Old Student Loan Rates Set for 2025-2026: Plan Your Payments
Published Date: 3/2/2026
Notice
Summary
If you have an old federal student loan made before July 1, 2010, your interest rate for the next year (July 1, 2025 to June 30, 2026) has been set. These rates can change every year and affect how much you pay. This notice tells you the new rates so you can plan your budget and payments with confidence.
Analyzed Economic Effects
5 provisions identified: 0 benefits, 5 costs, 0 mixed.
Annual FFEL variable rates announced
If you have a Federal Family Education Loan (FFEL) made before July 1, 2010, your variable interest rate for July 1, 2025 through June 30, 2026 has been set. The notice explains rates are set from Treasury yields and reports key yields: the 91-day Treasury bill bond-equivalent rate is 4.36% (May 27, 2025), the weekly average one-year Treasury yield is 4.09% (week ending June 26, 2025), and the average 91-day T‑bill rate for the quarter ending June 30, 2025 is 4.34%.
Stafford loan variable rates for 2025–2026
If you have a variable-rate Subsidized or Unsubsidized Stafford loan made under FFEL, the notice lists cohort-specific interest rates for July 1, 2025 through June 30, 2026. For example, Stafford loans first disbursed on or after July 1, 1998 and before July 1, 2006 have rates of 6.06% (in-school, grace, deferment status) and 6.66% (any other status), while other Stafford cohorts shown in Chart 1 have interest rates including 6.86% and 7.46% depending on the cohort and status.
PLUS and SLS loan rates set at ~7.19–7.34%
If you have a variable-rate PLUS or Federal Supplemental Loan for Students (SLS) from the FFEL Program, your interest rate for July 1, 2025 through June 30, 2026 is based on the one‑year Treasury yield (4.09%) plus statutory add-ons. The charts show resulting interest rates of 7.19% for several PLUS and SLS cohorts and 7.34% for cohorts first disbursed before October 1, 1992.
Consolidation loan portions: HEAL vs non‑HEAL rates
If you have a Federal Consolidation Loan with variable rates, the notice lists separate rates for portions that repaid non‑HEAL loans and portions that repaid HEAL loans for July 1, 2025 through June 30, 2026. For the portion that repaid loans other than HEAL (applications received after 11/13/1997 and before 10/01/1998), the rate shown is 7.46%. For the portion that repaid HEAL loans (application received after 11/13/1997), the rate shown is 7.34%, and that HEAL portion has no statutory maximum interest rate.
Converted variable‑rate Stafford loan rates listed
If you have a ‘‘converted’’ variable‑rate Stafford loan (an older loan that later converted to a variable rate), this notice lists cohort-specific interest rates for July 1, 2025 through June 30, 2026. Chart 3 shows converted Stafford loan interest rates including 7.46% for several cohorts and 7.61% for other cohorts depending on the original fixed rate and cohort dates.
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