Federal Student Loan Interest Rates for 2026-27
New federal undergraduate loans cost 6.52% in 2026-27. Graduate unsubsidized loans are 8.07% and PLUS loans are 9.07%.
U.S. Department of Education announcement GENERAL-26-33, June 4, 2026 · Last updated October 5, 2026 · Download CSV
Key numbers. Undergraduate Direct Loans 6.52%, graduate unsubsidized 8.07%, PLUS 9.07%. Rates are fixed for the life of each loan and apply to loans first disbursed July 1, 2026 to June 30, 2027.
| Loan type | 10-year Treasury high yield (May 12, 2026) | Add-on | Fixed rate 2026-27 | Maximum rate |
|---|---|---|---|---|
| Direct Subsidized and Direct Unsubsidized Loans, undergraduate students | 4.468% | 2.05% | 6.52% | 8.25% |
| Direct Unsubsidized Loans, graduate or professional students | 4.468% | 3.60% | 8.07% | 9.50% |
| Direct PLUS Loans, parents and graduate or professional students | 4.468% | 4.60% | 9.07% | 10.50% |
How the rate is set
Each year the rate is the high yield of the last 10-year Treasury Note auction before June 1 (4.468% at the May 12, 2026 auction) plus a fixed add-on set by law. Each rate has a cap: 8.25% for undergraduate loans, 9.50% for graduate unsubsidized loans and 10.50% for PLUS loans. Rates for loans issued in earlier years stay the same. Before you refinance a federal loan with a private lender, read what you give up and compare to these rates. Origination fees on federal loans are separate; see StudentAid.gov. Add-on columns are the statutory spread over the Treasury yield.
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Cite this page
Financialist Editorial Team. "Federal Student Loan Interest Rates for 2026-27." Financialist, October 5, 2026. https://financialist.com/research/federal-student-loan-interest-rates-2026-27
Free to quote with a link back.
Financialist Editorial Team. "Federal Student Loan Interest Rates for 2026-27." Financialist, October 5, 2026. https://financialist.com/research/federal-student-loan-interest-rates-2026-27
Free to quote with a link back.