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)
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.
