Important Announcements

On Dec. 9, 2025, the U.S. Department of Education announced a proposed settlement agreement that would end the Saving on a Valuable Education (SAVE) Plan. The settlement must be approved by the court before it can be implemented. Borrowers can use the Loan Simulator to begin exploring other repayment options. For more information, visit StudentAid.gov/courtactions.

On Oct. 30, 2025, the U.S. Department of Education published final Public Service Loan Forgiveness (PSLF) program regulations that will be effective on July 1, 2026. We'll provide updates when the regulations are implemented. For now, there are no impacts to borrowers, payment counts, or discharges.

Visit StudentAid.gov/publicservice for more information about PSLF and current program requirements.

For more information about employer eligibility, visit StudentAid.gov/pslf/employer-search.

To apply for PSLF, use the PSLF Help Tool at StudentAid.gov/pslf.

Important Updates

PSLF and PSLF Buyback

The PSLF program is managed by the U.S. Department of Education not MOHELA. To learn more about your next steps, and general information on the programs, visit Studentaid.gov/PSLF or Studentaid.gov/PSLFbuyback.

SAVE (Saving On A Valuable Education)

On August 1, 2025, interest began accruing on the SAVE Administrative Forbearance. Visit StudentAid.gov/SAVE to learn more. You can leave the forbearance by switching to an eligible repayment plan using Loan Simulator.

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Federal Student Loan Interest Rates

2025 - 2026 William D. Ford Loan Program Interest Rates History

Stafford Loans

91-Day T-Bill = 4.36%

Fixed rates have an index of 10-year Treasury Note = 4.342%

Qualifying Conditions Factor Cap 24-25 Rate 25-26 Rate
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2025 and 6/30/2026 (Any Status) - Fixed N/A 6.39% N/A 6.39%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2025 and 6/30/2026 (Any Status) - Fixed N/A 6.39% N/A 6.39%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2025 and 6/30/2026 (Any Status) - Fixed N/A 7.94% N/A 7.94%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2024 and 6/30/2025 (Any Status) - Fixed N/A 6.53% 6.53% 6.53%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2024 and 6/30/2025 (Any Status) - Fixed N/A 6.53% 6.53% 6.53%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2024 and 6/30/2025 (Any Status) - Fixed N/A 8.08% 8.08% 8.08%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2023 and 6/30/2024 (Any Status) - Fixed N/A 5.50% 5.50% 5.50%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2023 and 6/30/2024 (Any Status) - Fixed N/A 5.50% 5.50% 5.50%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2023 and 6/30/2024 (Any Status) - Fixed N/A 7.05% 7.05% 7.05%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2022 and 6/30/2023 (Any Status) - Fixed N/A 4.99% 4.99% 4.99%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2022 and 6/30/2023 (Any Status) - Fixed N/A 4.99% 4.99% 4.99%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2022 and 6/30/2023 (Any Status) - Fixed N/A 6.54% 6.54% 6.54%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2021 and 6/30/2022 (Any Status) - Fixed N/A 3.73% 3.73% 3.73%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2021 and 6/30/2022 (Any Status) - Fixed N/A 3.73% 3.73% 3.73%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2021 and 6/30/2022 (Any Status) - Fixed N/A 5.28% 5.28% 5.28%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2020 and 6/30/2021 (Any Status) - Fixed N/A 2.75% 2.75% 2.75%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2020 and 6/30/2021 (Any Status) - Fixed N/A 2.75% 2.75% 2.75%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2020 and 6/30/2021 (Any Status) - Fixed N/A 4.30% 4.30% 4.30%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2019 and 6/30/2020 (Any Status) - Fixed N/A 4.53% 4.53% 4.53%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2019 and 6/30/2020 (Any Status) - Fixed N/A 4.53% 4.53% 4.53%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2019 and 6/30/2020 (Any Status) - Fixed N/A 6.08% 6.08% 6.08%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2018 and 6/30/2019 (Any Status) - Fixed N/A 5.05% 5.05% 5.05%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2018 and 6/30/2019 (Any Status) - Fixed N/A 5.05% 5.05% 5.05%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2018 and 6/30/2019 (Any Status) - Fixed N/A 6.60% 6.60% 6.60%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2017 and 6/30/2018 (Any Status) - Fixed N/A 4.45% 4.45% 4.45%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2017 and 6/30/2018 (Any Status) - Fixed N/A 4.45% 4.45% 4.45%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2017 and 6/30/2018 (Any Status) - Fixed N/A 6.00% 6.00% 6.00%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2016 and 6/30/2017 (Any Status) - Fixed N/A 3.76% 3.76% 3.76%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2016 and 6/30/2017 (Any Status) - Fixed N/A 3.76% 3.76% 3.76%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2016 and 6/30/2017 (Any Status) - Fixed N/A 5.31% 5.31% 5.31%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2015 and 6/30/2016 (Any Status) - Fixed N/A 4.29% 4.29% 4.29%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2015 and 6/30/2016 (Any Status) - Fixed N/A 4.29% 4.29% 4.29%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2015 and 6/30/2016 (Any Status) - Fixed N/A 5.84% 5.84% 5.84%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2014 and 6/30/2015 (Any Status) - Fixed N/A 4.66% 4.66% 4.66%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2014 and 6/30/2015 (Any Status) - Fixed N/A 4.66% 4.66% 4.66%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2014 and 6/30/2015 (Any Status) - Fixed N/A 6.21% 6.21% 6.21%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2013 and 6/30/2014 (Any Status) - Fixed N/A 3.86% 3.86% 3.86%
Undergraduate Unsubsidized Stafford Loans with first disbursement date between 7/1/2013 and 6/30/2014 (Any Status) - Fixed N/A 3.86% 3.86% 3.86%
Graduate / Professional student Unsubsidized Stafford Loans with first disbursement date between 7/1/2013 and 6/30/2014 (Any Status) - Fixed N/A 5.41% 5.41% 5.41%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2012 and 6/30/2013 (Any Status) - Fixed N/A 3.40% 3.40% 3.40%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2011 and 6/30/2012 (Any Status) - Fixed N/A 3.40% 3.40% 3.40%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2010 and 6/30/2011 (Any Status) - Fixed N/A 4.50% 4.50% 4.50%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2009 and 6/30/2010 (Any Status) - Fixed N/A 5.60% 5.60% 5.60%
Undergraduate Subsidized Stafford Loans with first disbursement date between 7/1/2008 and 6/30/2009 (Any Status) - Fixed N/A 6.00% 6.00% 6.00%
All Stafford Loans with first disbursement date on/after 7/1/2006, except Undergraduate Subsidized with first disbursement date between 7/1/2008 and 6/30/2012 (Any Status) - Fixed N/A 6.80% 6.80% 6.80%
Loans with first disbursement date between 7/1/1998 and 6/30/2006 (Repayment or Forbearance) - Variable 2.30% 8.25% 7.70% 6.66%
Loans with first disbursement date between 7/1/1998 and 6/30/2006 (In-School, Grace or Deferment) - Variable 1.70% 8.25% 7.10% 6.06%
Loans with first disbursement date between 7/1/1995 and 6/30/1998 (Repayment or Forbearance) - Variable 3.10% 8.25% 8.25% 7.46%
Loans with first disbursement date between 7/1/1995 and 6/30/1998 (In-School, Grace or Deferment) - Variable 2.50% 8.25% 7.90% 6.86%
Loans with first disbursement date between 7/1/1994 and 6/30/1995 (Any Status) - Variable 3.10% 8.25% 8.25% 7.46%


Parent and Student Plus Loans

91-Day T-Bill = 4.36% and 1-Year Constant Maturity Treasury Yield = 4.09%

Fixed have an index of 10-year Treasury Note = 4.342%

Qualifying Conditions Factor Cap 24-25 Rate 25-26 Rate
Loans first disbursed between 7/1/2025 and 7/1/2026 - Fixed N/A 8.94% N/A 8.94%
Loans first disbursed between 7/1/2024 and 7/1/2025 - Fixed N/A 9.08% N/A 9.08%
Loans first disbursed between 7/1/2023 and 7/1/2024 - Fixed N/A 8.05% 8.05% 8.05%
Loans first disbursed between 7/1/2022 and 7/1/2023 - Fixed N/A 7.54% 7.54% 7.54%
Loans first disbursed between 7/1/2021 and 7/1/2022 - Fixed N/A 6.28% 6.28% 6.28%
Loans first disbursed between 7/1/2020 and 7/1/2021 - Fixed N/A 5.30% 5.30% 5.30%
Loans first disbursed between 7/1/2019 and 7/1/2020 - Fixed N/A 7.08% 7.08% 7.08%
Loans first disbursed between 7/1/2018 and 7/1/2019 - Fixed N/A 7.60% 7.60% 7.60%
Loans first disbursed between 7/1/2017 and 7/1/2018 - Fixed N/A 7.00% 7.00% 7.00%
Loans first disbursed between 7/1/2016 and 7/1/2017 - Fixed N/A 6.31% 6.31% 6.31%
Loans first disbursed between 7/1/2015 and 7/1/2016 - Fixed N/A 6.84% 6.84% 6.84%
Loans first disbursed between 7/1/2014 and 7/1/2015 - Fixed N/A 7.21% 7.21% 7.21%
Loans first disbursed between 7/1/2013 and 7/1/2014 - Fixed N/A 6.41% 6.41% 6.41%
Loans with a first disbursement date between 7/1/2006 and 6/30/2013 (Any Status) - Fixed N/A 7.90% 7.90% 7.90%
Loans with a first disbursement date between 7/1/1998 and 6/30/2006 (Any Status) - Variable 3.10% 9.00% 8.50% 7.46%
Loans with a first disbursement date before 7/1/1998 (Any Status) - Variable 3.10% 9.00% 8.20% 7.19%


Subsidized and Unsubsidized Consolidation Loans

91-Day T-Bill = 4.36%

Loans for which the application was received on or after 2/1/1999 (any status) will have a fixed interest rate of the lesser of 8.25 percent or the weighted average of the loans consolidated, rounded to the next higher 1/8 of one percent.

Qualifying Conditions Factor Cap 24-25 Rate 25-26 Rate
Loans for which the application was received between 10/01/1998 and 1/31/1999 (Any Status) - Variable 2.30% 8.25% 7.70% 6.66%
Loans with first disbursement date between 7/1/1998 and 9/30/1998 and loans with first disbursement date on or after 10/1/1998 for which the application was received before 10/1/1998 (Repayment or Forbearance Status) - Variable 2.30% 8.25% 7.70% 6.66%
Loans with first disbursement date between 7/1/1998 and 9/30/1998 and loans with first disbursement date on or after 10/1/1998 for which the application was received before 10/1/1998 (In-School, Grace, or Deferment Status) - Variable 1.70% 8.25% 7.10% 6.06%
Loans with first disbursement date between 7/1/1995 and 6/30/1998 (Repayment or Forbearance Status) - Variable 3.10% 8.25% 8.25% 7.46%
Loans with first disbursement date between 7/1/1995 and 6/30/1998 (In School, Grace, or Deferment) - Variable 2.50% 8.25% 7.90% 6.86%
Loans with first disbursement date between 7/1/1994 and 6/30/1995 (Any Status) - Variable 3.10% 8.25% 8.25% 7.46%


Plus Consolidation Loans

91-Day T-Bill = 4.360%

Loans for which the application was received on or after 2/1/1999 (any status) will have a fixed interest rate of the lesser of 8.25 percent or the weighted average of the loans consolidated, rounded to the next higher 1/8 of one percent.

Qualifying Conditions Factor Cap 24-25 Rate 25-26 Rate
Loans for which the application was received between 10/01/1998 and 1/31/1999 (Any Status) - Variable 2.30% 8.25% 7.70% 6.66%
Loans with first disbursement date between 7/1/1998 and 9/30/1998 and loans with first disbursement date on or after 10/1/1998 for which the application was received before 10/1/1998 (Any Status) - Variable 3.10% 9.00% 8.50% 7.46%