2014-2015 Federal Direct Loan Interest Rates
New Federal Direct Loan Interest Rate Information
Congress passed and the President signed the Bipartisan Student Loan Certainty Act of 2013 (BSLCA), which ties federal student loan interest rates to financial markets. Under this Act, interest rates will be determined each June for new loans made for the upcoming award year, which runs from July 1 to the following June 30. Interest rates are variable based on financial markets annually; however, the interest rate for an individual award year will be fixed for the life of that loan. As a result, the new interest rates make the Federal Direct Loans considered "variable-fixed" loans.
To see a list of prior year(s) interest rates, please click here. The following table provides interest rates for new Direct Loans made on or after July 1, 2014 and before July 1, 2015.
If you would like more in-depth information about federal student loans, please review the Department of Education FAQs on the interest rates or watch the following video!
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