What is the interest rate on student loans?
For any Stafford Student loans taken after July 1, 2006, the interest rate is fixed at 6.8 %. Any loans prior to that date may be at a variable rate. It is important to take all Student loans with the same lender code so that you have one payment upon repayment. You will be notified of any interest rate changes throughout the life of your loans.
Rowan participates in the Direct Student Loan Program. Student Loans made under the Direct student loan program carry a fix rate of interest. For loans disbursed after June 30, 2009 the rate is 5.6% for the Direct Subsidized Stafford Loan and 6.8% for the Direct Unsubsidized Stafford Loan. Parents who borrow from the Direct PLUS loan are charged interest at a fixed rate of 7.9% with a 2.5% processing fee.
Rowan participates in the Direct Student Loan Program. Student loans made under the Direct Loans student loan program carry a fixed rate of interest. For undergraduate student loans disbursed after June 30, 2010 the rate is 4.5% for the Direct Subsidized Stafford loan and 6.8% for the Direct Unsubsidized Stafford loan. For undergraduate student loans disbursed after June 30, 2011 the rate is 3.4% for the Direct Subsidized Stafford loan and 6.8% for the Direct Unsubsidized Stafford loan. For Direct Subsidized and Unsubsidized Stafford loans for the Graduate/Professional student the interest rate is 6.8%. Parents who borrow from the Direct PLUS loan are charged interest at a fixed rate of 7.9% with a 2.5% Origination Fee.
