MONEYSCHOOL'S Simplified Guide
to FAFSA and Federal Student Aid
Section 10: Loan Interest Rates, Award Limits,Fees and Repayment Time
The table below lists interest rates, annual award limits, fees and repayment time for various federal student loan programs. This information is subject to change and should be verified with the Office of Federal Student Aid. Annual award limits are shown for dependent undergraduate students. Limits for independent students and graduate or professional students are higher.
The standard term for repayment of all loans is 10 years, but the repayment schedule for some loans may be extended.
Federal |
Subsidized |
Unsubsidized |
PLUS |
PLUS |
5% Interest |
5.6% Interest after 7/1/09 1 |
6.8% Interest |
7.9% Interest |
8.5% Interest |
Maximum loan: amount $5,500 per Yr. |
Maximum loan: $3,500 1st Yr. |
Maximum loan: $5,500 per year less grants and subsidized loans |
Maximum loan: cost of attendance less other financial aid |
Maximum loan: cost of attendance less other financial aid |
No Loan Fee |
Loan Fee: 2% |
Loan Fee: 2% |
Loan Fee: 4% |
Loan Fee: lender option |
Time to repay: 10 Years |
Time to repay: |
Time to repay: |
Time to repay: |
Time to repay: |
.