Loan fees are based on the rate in effect on the date the loan is disbursed. The origination fee on the Federal PLUS loan is about 4.2%, four times the fee on Federal Stafford loans. The most recent interest rates are: Borrowerįederal Direct loan borrowers pay an origination fee. The interest rates are set according to this formula: Borrower The relief period is in effect through at least September 30, 2021. Keep in mind, however, that you are not required to pay interest or make payments on any Federal Direct Loan during the current COVID-19 relief period. The interest rate on the Federal PLUS Loan is the same for both Federal Parent PLUS Loans and Federal Grad PLUS Loans. The new interest rate is based on the last 10-year Treasury Note Auction in May. The interest rates on Federal PLUS Loans are fixed rates that change only for new loans each July 1. After interest is capitalized, interest will be charged on the interest, causing the loan to grow faster. If the interest is not paid as it accrues, it will be added to the loan balance (capitalized) when the loan enters repayment. The federal government does not pay the interest on the Federal PLUS Loan. Interest begins accruing immediately after disbursement. The Federal PLUS Loan is an unsubsidized loan.
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