Old Direct Loans Get Variable Rate Refresh Nobody Asked For
Published Date: 9/10/2026
Notice
Summary
Federal Student Aid announces the interest rates for Federal Direct Stafford/Ford Loans (Direct Subsidized Loans), Federal Direct Unsubsidized Stafford/Ford Loans (Direct Unsubsidized Loans), and Federal Direct PLUS Loans (Direct PLUS Loan), Assistance Listing Number 84.268, with first disbursement dates before July 1, 2006, and for Federal Direct Consolidation Loans (Direct Consolidation Loans) for which the application was received before February 1, 1999. The rates announced in this notice are in effect for the period July 1, 2026, through June 30, 2027.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Variable Student Loan Rates Set for 2026–2027
If you have a variable-rate Federal Direct loan first disbursed before July 1, 2006, or a Direct Consolidation loan with application received before February 1, 1999, your interest rate for July 1, 2026 through June 30, 2027 is set by formulas in the Higher Education Act. The notice states the 91-day Treasury bill rate used is 3.68% and the weekly average one‑year Treasury yield used is 3.99%, and it shows resulting example rates such as 5.38% (in‑school) and 5.98% (other statuses) for certain Subsidized/Unsubsidized cohorts, 6.78% for PLUS loans disbursed 07/01/98–07/01/06, and 7.09% for older PLUS cohorts.
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Key Dates
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Previous: 2026-18493, Annual Notice of Interest Rates for Fixed-Rate Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program
Federal Student Aid announces the interest rates for Federal Direct Stafford/Ford Loans (Direct Subsidized Loans), Federal Direct Unsubsidized Stafford/Ford Loans (Direct Unsubsidized Loans), and Federal Direct PLUS Loans (Direct PLUS Loans) made under the William D. Ford Federal Direct Loan (Direct Loan) Program, Assistance Listing Number 84.268, with first disbursement dates on or after July 1, 2026, and before July 1, 2027.
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