Interest Rates

The interest rate on subsidized Stafford Loans first disbursed from
July 1, 2008 – June 30, 2009 will have a fixed rate of 6.00%.

The interest rate on unsubsidized Stafford Loans first disbursed from             
July 1, 2008 – June 30, 2009 will have a fixed rate of 6.8%.

Visit Great Lakes Higher Education Corporation’s website to get an up-to-date listing of the current FFELP (Federal Family Education Loan Program) interest rates. On the borrower tab of that website, use the About Applications & Loans title at the top portion of the site for general information.

Loan Origination Fees

Stafford Loans have a standard origination fee of 1.5% of the loan amount.
Beginning July 1, 2008 the new standard origination fee will be 1%.