What was the interest rate on federal student loans in 2006?

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Hoyt Durgan asked a question: What was the interest rate on federal student loans in 2006?
Asked By: Hoyt Durgan
Date created: Wed, Jan 27, 2021 7:00 PM
Date updated: Wed, Jun 22, 2022 2:38 PM

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  • Interest rates were fixed at 7.9% from 2006 to 2013 until the Bipartisan Student Loan Certainty Act came around. After that, Congress set rates to the high-yield 10-year Treasury note plus 4.6%. Both Federal PLUS and Perkins Loans are no longer available. They held the same rates until the end of their programs:

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The interest rates on federal student loans are among the lowest interest rates available ...

Federal student loans first disbursed on or after July 1, 2006, will be fixed at a 6.8 percent interest rate for the life of the loan. The fixed 6.8 percent interest rate will apply to both in-school/grace and repayment periods.

Federal student loan interest rates were fixed at 6.8% from 2006 to 2013. After that, the ...

Loan Interest Rates. Under current law, both Stafford and PLUS loan rates vary annually; the former is now 5.3%, the latter 6.1%. Under legislation enacted in 2001, both rates were scheduled to become fixed at higher rates on July 1, 2006—the Stafford, 6.8%, the PLUS, 7.9%. The Deficit Reduction Act increases the PLUS rate to 8.5%.

Interest Rates for Federal Student Loans. Interest rates are subject to change on July 1st of each year. All federal student loans first disbursed on or after July 1, 2006 have a fixed interest rate for the life of the loan. Below are charts detailing the changes in the FFEL and Direct Loan interest rates since July 1, 2006.

These cuts are available only to undergraduate students, not graduate students, and only for subsidized Stafford loans, not unsubsidized Stafford loans. Those loans remain at 6.8%. 2006-07: Replacement of separate variable in-school/grace and repayment rates on the Stafford Loan with a single fixed rate of 6.8%.

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