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2013-2014 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.

The following table provides interest rates for new Direct Loans made on or after July 1, 2013 and before July 1, 2014. These rates will apply to all new Direct loans made during this time, even loans already disbursed before the passage of this Act.

 

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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