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Student Financial Services


Interest Rates and Fees

Interest rates and loan fees are subject to yearly changes implemented by the United States Congress. The information below is current as of June 24, 2019 for the 2019-2020 academic year.

All eligibility criteria including the submission of required documents and acceptance into an eligible program of study must be met by the required deadlines. Please consult with our Office of Student Financial Services about aid eligibility for non-degree certificate programs, as aid eligibility may differ from our degree offerings.

Federal Direct Loan Interest Rates

New Interest rates for loans first disbursed between July 1, 2019 and July 1, 2020:

Loan Type Borrower Type Fixed Interest Rate
Federal Direct Subsidized Loans Undergraduate Students 4.53%
Federal Direct Unsubsidized Loans Undergraduate Students 4.53%
Federal Direct Unsubsidized Loans Graduate/Professional Students 6.08%
Federal Direct PLUS Loans Parents of Dependent Undergraduate Students and Graduate/Professional Students 7.08%

All interest rates are fixed throughout the life of the loan.

Loan Fees

Loan Fees are a percentage of the principal amount charged for each Federal Direct Loan borrowed. The fee is subtracted proportionally from each disbursement of the loan. Please refer to your Master Promissory Note (MPN) and disclosure statement.

New loan fees for disbursements made starting October 1, 2019 and before October 1, 2020.

Federal Direct Subsidized Loans and Federal Direct Unsubsidized Loans will be 1.059%

(down from 1.062% for the October 1, 2018 and before October 1, 2019 period).

Federal Direct PLUS Loans (Parents and Graduate Students) will be 4.236%

(down from 4.248% for the October 1, 2018 and before October 1, 2019 period).

For prior interest rates and loan fees please refer to

The information contained on this site is subject to change without notice.

For further information, please contact:

Office of Student Financial Services
Levermore Hall, Lower Level
p – 516.877.3080
p – ext. 2240 (on campus only)
f – 516.877.3380
e –

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