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Last updated 5/6/2008. Good through 6/30/2008
Federal Family Education Loan Program (FFELP)


Stafford Loans

Stafford loans have a fixed rate that is set by the federal government. As of July 1, 2006, the Stafford loan interest rate is fixed at 6.8% for both in-school and repayment loans. Stafford loans disbursed prior to July 1, 2006 will remain at a variable rate, capped at 8.25%. Contact the AnchorBank Student Lending Office or Great Lakes Higher Education for those rates. AnchorBank also offers rate reductions in repayment. Please see our borrower benefits for details.

Recent legislation will be changing Stafford loan rates. Starting July 1, 2008, the undergraduate subsidized Stafford loan interest rate will be fixed at 6.00%.

Federal Stafford Loan
Current Interest Rate

Unsubsidized undergraduate and subsidized / unsubsidized graduate

Subsidized undergraduate (effective for loans disbursed 7/1/08 through 6/30/09)

6.80%

 

6.00%

Details and Disclosures

PLUS Loans


As of July 1, 2006, the PLUS loan interest rate is fixed at 8.5%. PLUS loans disbursed prior to July 1, 2006 will remain at a variable rate, capped at 9.0%. Contact the AnchorBank Student Lending office or Great Lakes Higher Education for those rates. AnchorBank also offers rate reductions in repayment. Please see our borrower benefits for details.
Federal Parent PLUS Loan
Current Interest Rate
Parent as borrower
8.50%
Details and Disclosures

Graduate PLUS Loans

Starting with the 2006-2007 school year, the new federal Graduate PLUS loan is available. The rate will be a fixed 8.5%. AnchorBank also offers rate reductions in repayment. See our borrower benefits on Graduate PLUS loans.

Federal Graduate PLUS Loan
Current Interest Rate
In-school, grace and deferment and repayment
8.50%
Details and Disclosures

Federal Consolidation Loans

Federal Consolidation Loan
Current Interest Rate
Interest Rate Cap
Used to combine loans and possibly extend repayment term
Weighted average of the interest rates on the loans being consolidated, rounded to the next 1/8%
8.25%
Details and Disclosures

Alternative Loans

Anchor Alternative from Campus Door
Current Interest Rate
Interest Rate Cap
Private student loan

Details and Disclosures

Range from Prime - 0.5% to Prime + 7.9%

None

 

© 2008 AnchorBank, fsb
AnchorBank, fsb, 25 West Main Street, Madison, WI
a subsidiary of Anchor BanCorp Wisconsin, Inc., a Wisconsin corporation.
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