New FSA ID

Federal Student Aid has announced a new login process for all Federal Student Aid websites. The new FSA ID is comprised of a user-selected username and password, which replaces the Federal Student Aid PIN with a single sign-on process for most systems.

Click here for more details.

Federal Student Loan Interest Rates


Current Rate
2014-2015
New Rate
2015-2016
Undergraduate Direct Loans
Subsidized & Unsubsidized
4.66% 4.29%
Graduate Direct Loans 6.21% 5.84%
PLUS Loans
Graduate PLUS & Parent PLUS
7.21% 6.84%

Federal Student Loan Fees

Direct Loan Fees
2015-2016
Loan Type Impacted Loans Percent Fee Example
Direct Subsidized Loans and
Direct Unsubsidized Loans
FY 2015
First disbursed on or after October 1, 2014 and before October 1, 2015
1.073% $59.01 on a
$5,500 loan
FY 2016
First disbursed on or after October 1, 2015 and before October 1, 2016
1.068% $58.74 on a
$5,500 loan

Direct PLUS Loans
(Parent and Graduate/Professional Student)
FY 2015
First disbursed on or after October 1, 2014 and before October 1, 2015
4.292% $429.20 on a
$10,000 loan
FY 2016
First disbursed on or after October 1, 2015 and before October 1, 2016
4.272% $427.20 on a
$10,000 loan

Loan fee calculations that result in more than two decimal places must be
truncated (not rounded) to two digits after the decimal point (cents)