Loan Fees
Direct Subsidized and Unsubsidized Loans with a first disbursement date between October 1, 2020 and October 1, 2026, 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, 2025, for the 2526 academic year or July 1, 2026, for the 2627 academic year.
| Loan Type | Student Grade Level | 2025-2026 Fixed Interest Rate | 2026-2027 Fixed Interest Rate | Maximum Interest Rate |
|---|---|---|---|---|
| Direct Subsidized | Undergraduate | 6.39% | 6.39% | 8.25% |
| Direct Unsubsidized | Undergraduate | 6.39% | 6.53% | 8.25% |
| Direct Unsubsidized | Graduate | 7.94% | 7.94% | 9.50% |
| Direct PLUS | Parents of Undergraduates and Graduate/Professional Students | 8.94% | 8.94% | 10.50% |