Important Announcements

Starting on July 1, 2026, the interest rate reduction for borrowers enrolled in auto pay will go from 0.25% to 1%. This reduction is available to borrowers with Direct Loans disbursed on or after July 1st, 2012. Visit StudentAid.gov to learn more and enroll by 11:59 p.m. ET on Sept. 30, 2026, to receive the temporary benefit through June 30, 2028.

On March 10, 2026, a court order ended the Saving on a Valuable Education (SAVE) Plan. The U.S. Department of Education will contact impacted borrowers, who can explore and apply for other repayment plans. 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 Update

Repayment Plan Changes Starting July 1, 2026

The newest repayment plans—the Repayment Assistance Plan (RAP) and Tiered Standard Plan—are available effective July 1, 2026. Visit StudentAid.gov/bigupdates to learn more about these new repayment plans and other changes to the federal student aid programs. To apply, visit Studentaid.gov/repayment-calculator.

SAVE Plan is Ending

Borrowers who enrolled in or applied for the Saving on a Valuable Education (SAVE) Plan and have loans in forbearance must select a new repayment plan after receiving a notice from MOHELA. No need to call! For a quick and easy path to change plans or explore your options, log in to your Studentaid.gov account, and use the Repayment Calculator. For more information, visit our FAQ page.

Agents can't process IDR plans

If you are calling MOHELA to request an income-driven repayment plan including the new RAP plan, please know that our phone agents cannot sign you up for those plans. Visit Studentaid.gov/IDR to apply today.

If you've recently submitted an application on Studentaid.gov, it may take up to a few days for MOHELA to receive your application. You will be notified once your application is processed. Thank you for your patience.

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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%