2020-21 Academic Year
- Interest Rate is 5.30% (For Direct PLUS Loans first disbursed on or after July 1, 2020 and before July 1, 2021)
These are fixed inter rates for the life of the loan.
Understand net vs. gross Federal Direct Loan amounts
There is a 4.248% loan origination fee (for loans first disbursed on or after October 1, 2020 and before October 1, 2021) on all Direct PLUS Loans. The loan fee will be proportionately deducted from each loan disbursement.
|Net Loan (amount requested)||$10,000|
|Loan Origination Fee (4.272%)||- 4.228%|
|Gross Amount (amount disbursed)||= $9,577|
More information on Federal Direct PLUD loan fees and interest rates is available here.