Loan Changes

Changes to Loans for Graduate Students in 2015–16

Loan Fees

Because the Budget Control Act of 2011 (the sequester law) remains in effect, direct loan fees will be affected in the following ways:

For Subsidized and Unsubsidized Direct Loans:

  • Loans first disbursed on or after October 1, 2014, and before October 1, 2015, will have a loan fee of 1.073 percent.
  • Loans first disbursed on or after October 1, 2015, and before October 1, 2016, will have a loan fee of 1.068 percent.

For Direct PLUS Loans:

  • Loans first disbursed on or after October 1, 2014, and before October 1, 2015, will have a loan fee of 4.292 percent.
  • Loans first disbursed on or after October 1, 2015, and before October 1, 2016, will have a loan fee of 4.272 percent.

Loan Interest Rates

The recently enacted Bipartisan Student Loan Certainty Act of 2013 amends the Direct Loan interest rate section of the Higher Education Act of 1965. Under the law, the interest rate for all Direct Loans will be the sum of a 10-year Treasury Note index rate plus a statutory add-on determined by Congress. The rate will be set on the preceding June 1 for loans disbursed during any 12-month period beginning on July 1. Once established, the interest rate will apply for the life of the loan. The most recent interest rate information can be found at studentloans.gov