Educational Loan Programs

Debt AlertA reminder about Loans!

It is important that if you expect to have your loan available for the First fall payment, you must have your Loan Application filed with us on or before July 1st. (We must, of course, have your Federal Student Aid Report, before we can process the Loan!!) You must also be a fully accepted student.

If you are on the payment plan, you are responsible for making payments on or by the due date, regardless of whether or not your loan has been processed.

Please visit: https://studentaid.gov/understand-aid/types/loans/interest-rates for more information and to see interest rates and loan fees for loans disbursed prior to July 1, 2021.

Federal Direct Student Loans 2021-2022 Interest Rates

Effective for Loans With a First Disbursement on or After July 1, 2021

Loan Type

Student Grade Level

Cohort

2021-2022 Fixed Interest Rate

First Disbursed On/After

First Disbursed Before

Direct Subsidized Loans

Undergraduate Students

7/1/21

7/1/22

3.73%

Direct Unsubsidized Loans

Undergraduate Students

7/1/21

7/1/22

3.73%

Direct Unsubsidized Loans

Graduate/Professional Students

7/1/21

7/1/22

5.28%

Direct PLUS Loans

Parents of Dependent Undergraduate Students and Graduate/Professional Students

7/1/21

7/1/22

6.28%

Direct Consolidation Loans

N/A

Consolidation Loan Application Received on or after July 1, 2021

Interest rate remains the weighted average of the interest rates of the loans included in the consolidation, rounded up to the next higher one-eighth of one percent.  

Origination Fees

For loans first disbursed on or after October 1, 2020:
Stafford: 1.057%
PLUS: 4.228%

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