Loan Information Charts
Loan Comparison Charts
| Federal Direct Unsubsidized | Federal Direct PLUS (Grad PLUS) | Campus-based | Private | |
| Lender | Federal government | Federal government | School | Private lender |
| Eligibility | Based on COA | Based on COA | See FAO for details | Credit based, varies by lender |
| Citizenship | U.S. citizen or permanent resident | U.S. citizen or permanent resident | See FAO for details | Usually U.S. citizen or permanent resident unless cosigner is citizen or permanent resident |
| Annual Limit | $40,500 | COA less other aid | See FAO for details | Varies by lender |
| Interest Subsidy | None | None | Often interest free during school, see FAO for details | None |
| Interest Rate | Rate changes on new loans each July 1, then fixed for life of loan | Rate changes on new loans each July1, then fixed for life of loan, rate always 1% higher than Direct Unsubsidized | Usually fixed, see FAO for details | Fixed or variable |
| Grace Period | 6 months | No grace, but 6-month post enrollment deferment | Often 6-12 months, see FAO for details | Varies by lender |
| Repayment Plans | Multiple plans, including time-driven and income-driven | Multiple plans, including time-driven and income-driven | Often 10 years, see FAO for details | Varies by lender |
| Eligible for Public Service Loan Forgiveness | Yes, assuming other requirements met | Yes, assuming other requirements met | No | No |
| Postponement Options | Multiple options | Multiple options | See FAO details | Varies by lender |
Interest Rate Chart
| Academic Year | Direct sub and unsub for undergraduates | Direct unsub | Direct PLUS (Grad PLUS) |
| 2024-2025 | 6.53% | 8.08% | 9.08% |
| 2023-2024 | 5.50% | 7.05% | 8.05% |
| 2022-2023 | 4.99% | 6.54% | 7.54% |
| 2021-2022 | 3.73% | 5.28% | 6.28% |
| 2020-2021 | 2.75% | 4.30% | 5.30% |
| 2019-2020 | 4.53% | 6.08% | 7.08% |
| 2018-2019 | 5.05% | 6.59% | 7.59% |
Download the Interest-Rate-Chart-Summer-2024
* Interest rates change on new loans disbursed on or after July 1 each year, then fixed for the life of the loan.
* Direct PLUS always 1% higher than direct unsubsidized.
* Rates on direct loans were 0% during the period covered by the CARES Act (March 2020 to September 2023).
* Undergraduate rates shown for the benefit of borrowers with predental loans.
* AAMC/ADEA Dental Loan Organizer and Calculator uploads correct rates when using the upload feature.
* Maximum interest rates 9.50% and 10.5% for direct unsub and direct PLUS respectively.