Current student loan interest rates The interest rates for all new federal direct undergraduate student loans are 3.73%, up from 2.75% in 2020-21. Unsubsidized direct graduate student loan rates are 5.28%, up from 4.30%. Rates for PLUS loans, which are for graduate students and parents, are 6.28%, up from 5.30%.

Can I get a loan for my child’s college?

Direct PLUS Loans are federal loans that parents of dependent undergraduate students can use to help pay for college or career school. PLUS loans can help pay for education expenses not covered by other financial aid.

What is the average student loan debt interest rate?

Among all existing borrowers, 5.8% is the average student loan interest rate. For new undergraduate loans, the current federal interest rate is 2.75%.

What are the interest rates for education loans?

Concessional interest rates also apply for student who is pursuing their education at premier institutions. Simple interest will be charged through the study period and up to the commencement of repayment. Accumulated interest will be compounded at the start of repayment tenure and the applicable EMI will be fixed accordingly.

What’s the interest rate on a 3 month student loan?

For variable interest rate loans, the 3-Month LIBOR is 2.00% as of January 1, 2020.

What is the interest rate for girl student?

0.50% concession for girl students. Concessional interest rates also apply for student who is pursuing their education at premier institutions. Simple interest will be charged through the study period and up to the commencement of repayment.

What’s the maximum amount you can put up for an education loan?

If the education loan applied for, is up to a certain amount (generally 7.5 lakhs), there is no security or collateral that the applicant needs to put up for the loan. However, above the stated amount, a security, that can be a fixed deposit or property that needs to be put up as collateral.