The student loan interest rates for the 2019/20 academic year have just been announced. Interest rates for the Federal Direct Loan program are set each year based on the 10-Year Treasury Note rate as of June 1. The Treasury Department just held its last T-Note auction scheduled prior to that June 1 date, so rates are now locked in.
Without further ado, interest rates for the 2019/20 school year will be:
- Subsidized and Unsubsidized Direct Loans for undergraduate students: 4.529%
- Unsubsidized Direct Loans for graduate students: 6.079%
- Direct PLUS Loans for graduate student and parents of undergraduate students: 7.079%
To learn more, visit the Insider blog at blog.getintocollege.com.