Loan Fees

Direct Subsidized and Unsubsidized Loans with a first disbursement date after October 1, 2023, have a loan fee of 1.057%. The loan fee for Direct PLUS (Parent and Graduate borrowers) is 4.228%. The fee is deducted from the loan funds the university receives.

Interest Rates for Direct Loans

Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2013 have fixed interest rates that are determined in accordance with formulas specified in sections 455(b)(8)(A) through (C) of the Higher Education Act of 1965, as amended (HEA).

See the table below for the interest rates for loans first disbursed after July 1, 2024 or July 1, 2025.

Loan TypeStudent Grade Level2024-2025 Fixed Interest Rate2025-2026 Fixed Interest Rate
Direct SubsidizedUndergraduate6.53%6.39%
Direct UnsubsidizedUndergraduate6.53%6.53%
Direct UnsubsidizedGraduate8.08%7.94%
Direct PLUSParents of Undergraduates and Graduate/Professional Students9.08%8.94%