Rates and Fees
The interest rate for Direct PLUS is a fixed rate for all qualifying borrowers.
You can find information about interest rates for the PLUS Loan at the Federal Student Aid website.
The PLUS is subject to a 4.292% federal origination fee for loans first disbursed on or after October 1, 2014 and on or before September 30, 2015. 4.292% will be automatically deducted up-front from your approved PLUS loan total. When calculating what you need to borrow to cover an exact balance, please add in 4.292% to compensate for the fee. More information about origination fees can be found at the Federal Student Aid website.
2015-2016 Direct Loan Interest Rates
On Wednesday, May 13, 2015, the Treasury Department held a 10-year Treasury note auction. The chart below displays the resultant interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2015 and before July 1, 2016.
|Loan Type||Borrower Type||Fixed Interest Rate|
|Direct Subsidized Loans||Undergraduate Student||4.29%|
|Direct Unsubsidized Loans||Undergraduate Student||4.29%|
|Direct Unsubsidized Loans||Graduate Student||5.84%|
|Direct PLUS Loans||Graduate Student or Parents of Dependent Undergraduate Student||6.84%|