"Date Made" is the date the lender disbursed the first
(or only) installment of loan proceeds by check or EFT.
Stafford Loans
Stafford Loans made on or after
07/01/06 receive a fixed interest rate
for the life of the loan based on the date the loan is made.
See the table below for current rates on older variable rate loans.
Variable Interest Rates
for 07/01/08 - 06/30/09
Date Made
Special Conditions
Variable Rate
07/01/98 - 06/31/06
During in-school, grace, or
deferment periods
3.61%
During the repayment period
4.21%
07/01/95 - 06/30/98
During in-school, grace, or
deferment periods
4.41%
During the repayment period
5.01%
07/01/94 - 06/30/95
Period of enrollment
included or began on or after 07/01/94
5.01%
No previous loans
outstanding and period of enrollment ended prior to 07/01/94
5.01%
10/01/92 - 06/30/94
No previous loans
outstanding
5.01%
After 07/22/92
Made at the 8/10 percent
split rate to borrowers with prior loans outstanding (not yet in
the fifth year of repayment)
5.01%
Made at the 8/10 percent
split rate to borrowers with prior loans outstanding (now in or
past the fifth year of repayment)
5.01%
Made at a fixed rate of 7
percent and converted to a variable rate effective 01/01/95
5.01%
Made at a fixed rate of 8
percent and converted to a variable rate effective 01/01/95
5.01%
Made at a fixed rate of 9
percent and converted to a variable rate effective 01/01/95
5.01%
Before 07/23/92 or first
loan was made 07/23/92 - 09/30/92
Made at the 8/10 percent
split rate and converted to a variable rate effective 01/01/95 or
converted at the 49th month after the end of the grace period
5.16%
SLS and PLUS Loans
PLUS Loans for parents and PLUS
Loans for graduate and professional students made on or after
07/01/06 receive a fixed interest rate of 8.50%. See the table
below for current rates on older variable loans.
Variable Interest Rates
for 07/01/08 - 06/30/09
Date Made
Special Conditions
Variable Rate
07/01/98 - 06/30/06
None
5.01%
07/01/94 - 06/30/98
None
5.67%
10/01/92 - 06/30/94
None
5.67%
Before 10/01/92
None
5.82%
Consolidation Loans
Consolidation Loans from applications received on or after
10/01/98 receive a fixed interest rate based on the weighted
average of the statutory interest rates of the loans being
consolidated rounded up to the nearest 1/8%, or 8.25% whichever is
less.
Variable Interest Rates
for 07/01/08 - 06/30/09
Date Made
Special Conditions
Variable Rate
After 11/12/97
Applications received
11/13/97 -
09/30/98 (excluding HEAL)
5.01%
After 11/12/97
HEAL portion only
4.71%
EXTRA Education Loans
EXTRA Education Loans receive a variable interest rate
for the life of the loan based on the date the loan is made. Accrued,
unpaid interest is capitalized at repayment.
Date Made
Interest Rate Valid Until
Variable Rate
Before 07/01/08
12/31/08
5.00%
On or after 07/01/08
12/31/08
6.88%
Available for certain undergraduate, graduate and
postgraduate programs at an eligible NC college or university.
