Federal Student Aid · fixed rates
Student loan interest rates 2026-27, 6.52% for undergrads.
The Department of Education set the 2026-27 fixed rates in a Federal Register notice. Pick a loan type and amount to see first-year interest and a 10-year payment.
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Result
The 2026-27 rates
The Department of Education's notice of September 10, 2026 sets these fixed rates for Direct Loans first disbursed on or after July 1, 2026 and before July 1, 2027:
| Loan | Borrower | Add-on | Cap | Rate |
|---|---|---|---|---|
| Direct Subsidized and Unsubsidized | Undergraduate | 2.05 | 8.25 | 6.52% |
| Direct Unsubsidized | Graduate or professional | 3.60 | 9.50 | 8.07% |
| Direct PLUS | Parents of dependent undergraduates | 4.60 | 10.50 | 9.07% |
The rate is the high yield of the 10-year Treasury note at the final auction before June 1, plus a statutory add-on for the loan type, up to the statutory maximum (20 U.S.C. 1087e(b)). The May 12, 2026 auction produced a high yield of 4.468%, which the Department rounded to 4.47% for the notice. Each rate is fixed for the life of the loan; loans first disbursed in a different July 1 to June 30 year can carry different rates. Graduate and professional students are not eligible for Direct Subsidized Loans, and new Grad PLUS loans ended on July 1, 2026 (see the graduate borrowing limits).
How the rates have moved
| First disbursed | Undergraduate | Graduate | PLUS |
|---|---|---|---|
| July 1, 2026 to June 30, 2027 | 6.52% | 8.07% | 9.07% |
| 2025-26 | 6.39% | 7.94% | 8.94% |
| 2024-25 | 6.53% | 8.08% | 9.08% |
| 2023-24 | 5.50% | 7.05% | 8.05% |
| 2022-23 | 4.99% | 6.54% | 7.54% |
| 2021-22 | 3.73% | 5.28% | 6.28% |
| 2020-21 | 2.75% | 4.30% | 5.30% |
The 2026-27 undergraduate rate is 0.13 percentage points above last year's 6.39%. The notice lists every year back to July 1, 2013.
How the calculator works
It applies the rate for the loan type you choose. First-year interest is the amount times the rate, a simple annual figure before any payments. The 10-year payment uses the standard fixed-payment formula over 120 months, and the total shows what you would pay overall. Borrowing $10,000 as an undergraduate at 6.52% gives $652.00 of interest in the first year, a payment of about $113.65 a month and about $13,637.97 paid over 10 years. The same $10,000 at the 9.07% PLUS rate costs $907.00 in the first year and about $127.05 a month.
Other fixed rates in the notice
- Loans first disbursed July 1, 2006 to June 30, 2013: fixed rates set in the statute, such as 6.80% for unsubsidized loans and 7.90% for PLUS loans, and subsidized undergraduate rates of 3.40% to 6.80% depending on the date.
- Direct Consolidation Loans (application on or after February 1, 1999) carry the weighted average of the rates on the loans consolidated, rounded up to the nearest one-eighth of one percent. See the consolidation rate calculator.
- Older variable-rate loans (first disbursed before July 1, 2006) are announced in a separate notice.
Limits of this page
It shows federal Direct Loan rates only. It does not include private loan rates, fees, or interest that accrues while you are in school. For the daily mechanics, use the interest accrual calculator, and for the tax side the student loan interest deduction calculator. Your loan agreement states your actual rate.
FAQ
What is the federal student loan interest rate for 2026-27?
For Direct Loans first disbursed July 1, 2026 to June 30, 2027: 6.52% for undergraduate Subsidized and Unsubsidized loans, 8.07% for graduate and professional Unsubsidized loans, and 9.07% for Direct PLUS loans.
How are federal student loan rates set?
Each year the rate is the high yield of the 10-year Treasury note at the final auction before June 1, plus a statutory add-on (2.05, 3.60 or 4.60 percentage points), up to a cap of 8.25%, 9.50% or 10.50%.
Is the rate fixed?
Yes. The rate determined for any loan is fixed for the life of the loan. Loans disbursed in a later July 1 to June 30 year may carry a different rate.
Why is the rate 4.47% in the notice when the auction was 4.468%?
The Department rounded the May 12, 2026 auction's 4.468% high yield to 4.47% before adding the statutory add-ons.
Did rates go up or down from last year?
Up. The undergraduate rate rose from 6.39% to 6.52%, graduate from 7.94% to 8.07%, and PLUS from 8.94% to 9.07%.
What rate do consolidation loans carry?
The weighted average of the rates on the consolidated loans, rounded up to the nearest one-eighth of one percent.
Does this include origination fees?
No. This page covers the interest rate only.
Sources
Retrieved 2026-11-02. Each link was opened and checked against the claim next to it.
- Federal Register, Annual Notice of Interest Rates for Fixed-Rate Federal Student Loans (September 10, 2026): Chart 1 rates, May 12, 2026 auction result and rounding, history chart, consolidation rule
- 20 U.S.C. 1087e, Terms and conditions of loans: Subsection (b)(8): add-ons, caps and the fixed-for-life rule
Not legal or financial advice
This page is general information, not legal or financial advice. Rules change and individual circumstances differ; confirm what applies to you with the agency or servicer named in the sources. Everything runs in your browser; nothing you enter is sent anywhere.