December 22, 2007

What is the PLUS Loan interest rate currently?

Posted in Graduate Students, Parent PLUS Loans at 7:20 AM by Joe From Boston

I’ve heard this question a lot recently, so I thought I’d address it directly.

What is the PLUS Loan’s interest rate? PLUS Loans disbursed after July 1, 2006 currently have a fixed interest rate of 8.50%. This rate will remain fixed from July 1, 2007 to Jul 31, 2008. In May of 2008, Congress will decide whether or not to change the interest rate. They often change it yearly, but recently the changes have been small.

The same rate applies to GradPLUS Loans, which are available for graduate students.