USA Funds Offers Resources for New Student Loan Interest Rates

Tools from USA Funds can help you counsel borrowers about new student loan interest ratesUSA Funds® offers printed and downloadable publications to help you counsel student loan borrowers on the interest rates on new federal student loans effective July 1.

Direct Subsidized Loans and Direct Unsubsidized Loans for undergraduates that have a first disbursement between July 1, 2014, and June 30, 2015, have a fixed interest rate of 4.66 percent. Direct Unsubsidized Loans to graduate and professional students have a fixed interest rate of 6.21 percent. Direct PLUS Loans have a fixed interest rate of 7.21 percent.

USA Funds offers:

  • An interest rate poster  available for download. The PDF lists the new Direct Loan rate for undergraduates and graduate/professional students as well as the PLUS loan rate.
  • A detailed table, available for download, providing interest rates for subsidized and unsubsidized federal student loans and PLUS loans disbursed between 2006 and 2014.
  • A Federal Student Loan Repayment Estimator table available for download and order. The publication lists repayment examples using the new interest rates — including monthly payment amounts, number of payments and total interest costs. Estimates are for loan balances ranging from $1,000 to $220,000. The table also provides examples under the maximum statutory interest rates for undergraduates and graduates and for PLUS loans.

Additionally, the USA Funds Student Loan Repayment Calculator permits borrowers to estimate their payments for a wide range of interest rates and loan balances. The tool provides in one calculator results for all the available repayment options, including income-based and Pay As You Earn.

Contact USA Funds to learn more about counseling borrowers about repayment and about USA Funds’ default prevention tools and solutions.