What are the loan interest rates?
A. Interest rates vary with the type of loan. For specific rates, please see the chart below for the 2008-2009 school year.Perkins Undergraduate 5.0%Stafford Subsidized Undergraduate 6.0%*Graduate 6.8%Stafford Unsubsidized Undergraduate 6.8%Graduate 6.8%*Over the next three years, the subsidized Stafford rates for undergraduate students will continue to decrease, from 5.60% in 2009-2010 to 4.50% in 2010-2011, and then to 3.40% in 2011-2012.Parent PLUS Loan Undergraduate 8.5%Graduate PLUS Loan Graduate 8.5%Private and alternative loans have variable rates based either on the prime interest rate or the three-month LIBOR (London Inter-Bank Offer Rate) and the credit scores of the applicants. To learn more about prime and LIBOR, and to see their current rates, visit www.bloomberg.com/markets/rates/keyrates.html.
A. Interest rates vary with the type of loan. For specific rates, please see the chart below for the 2008-2009 school year.Perkins Undergraduate5.0%Stafford SubsidizedUndergraduate6.0%*Graduate6.8%Stafford UnsubsidizedUndergraduate6.8%Graduate6.8%*Over the next three years, the subsidized Stafford rates for undergraduate students will continue to decrease, from 5.60% in 2009-2010 to 4.50% in 2010-2011, and then to 3.40% in 2011-2012.Parent PLUS LoanUndergraduate8.5%Graduate PLUS LoanGraduate8.5%Private and alternative loans have variable rates based either on the prime interest rate or the three-month LIBOR (London Inter-Bank Offer Rate) and the credit scores of the applicants. To learn more about prime and LIBOR, and to see their current rates, visit www.bloomberg.com/markets/rates/keyrates.html.
