Loan Fees and Loan Interest Rates

Federal Direct Loan Fees and Loan Interest Rates

Most federal student loans have loan fees (otherwise known as origination fees) that are a percentage of the total loan amount. The loan fees are deducted from each loan disbursement you receive which means the amount of loan funds that credits to your Bursar student account will be less by the amount of the loan fees.

Loan fees are separate from the loan interest rate which is the rate at which the loan you borrow will accrue interest. This interest is paid to the loan lender (with Federal Direct Loans, the lender is the Department of Education) as a cost of borrowing the money. The interest rate impacts the total amount you repay so it’s important to understand both the loan fees and the loan interest rate when borrowing. For more information about loan interest rates specifically, go to!

Review the information below for specifics on what the loan fees are, what loan interest rates are, how loan fees are treated in the Cost of Attendance and more:

Loans first disbursed on or after October 1, 2021 and before October 1, 2022: 1.057%

Loans first disbursed on or after October 1, 2020 and before October 1, 2021: 1.057%

Loans first disbursed on or after October 1, 2020 and before October 1, 2022: 4.228%

Loans first disbursed on or after October 1, 2020 and before October 1, 2022: 4.228%

The loan interest rate depends on the type of loan, what type of borrower you are (i.e., Undergraduate, Graduate or Parent) and when your loan first disburses (i.e., releases to Bursar student account). Please see the information below:

*The interest rate displayed below applies to loans first disbursed after July 1, 2022 and before July 1, 2023.

Federal Direct Subsidized and Unsubsidized Loan for Undergraduate Students 4.99%
Federal Direct Unsubsidized Loan for Graduate/Professional Students 6.54%
Federal Direct PLUS Loan for Graduate/Professional Students 7.54%
Federal Direct PLUS Loan for Parent of Dependent Undergraduate Students 7.54%

Check out the additional helpful information about loan fees and loan interest rates at

Check out additional information we put together for you by going to our loans page. In addition, you may visit the for more information and resources.

Loan fees are included in your COA since they are a direct expense to you to attend college. Since loan fees vary for each borrower, loan fees will be added to a student’s COA (for the aid year in which the loan(s) are borrowed) after the loan(s) are accepted by the student and/or parent and the loan fees are calculated.

Loan fees added to the COA will be updated regularly to ensure that the loan fees included in the COA accurately reflect the loan fees associated with your and/or your parents’ (if applicable) loans borrowed for the year. This means that if you decide to borrow more or less after initially accepting loans, we will update your COA automatically.

Students who do not borrow Federal Direct Loans (including the PLUS loan for parents) will not have any loan fees added to their COA. In addition, loan fees associated with private loans cannot be included in the student’s COA.