Amount charged to the borrower for the privilege of using the lender's money. Interest is usually calculated as a percentage of the principal balance of the loan. The percentage rate may be fixed for the life of the loan, or it may be variable, depending on the terms of the loan..
Academic Year 2007-2008 Loans Disbursed on or After July 1, 2006 |
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| Loan Program | Interest Rate in School, etc |
Interest Rate in Repayment |
Fixed/Variable |
| Federal Stafford Subsidized Loan | 6.8%* | 6.8%* | fixed |
| Federal Stafford Unsubsidized Loan | 6.8%* | 6.8%* | fixed |
| PLUS Loans | 8.5% | 8.5% | fixed |
| Federal Perkins Loan | 5.0% | 5.0% | fixed |
| Federal Nursing Loan | 5.0% | 5.0% | fixed |
| KU Endowment Loan | 5% | 5% | fixed |
| Alternative Loans | various depending on lender |
various depending on lender |
variable |
| *This rate is effective for loans disbursed on or after July 1, 2006. Stafford Loans disbursed prior to that date will continue to have a variable interest rate based on the 91-day T-bill + 1.7% not to exceed 8.25%. | >|||
Academic Year 2007-2008 Loans First Disbursed July 1, 1998 and June 30, 2006 |
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| Loan Program | Interest Rate in School, etc |
Interest Rate in Repayment |
Interest Rate in Repayment 07/01/2006-06/30/207 | Fixed/Variable |
| Federal Stafford Subsidized Loan | 6.62% | 7.22% | 7.14% | variable |
| Federal Stafford Unsubsidized Loan | 6.62% | 7.22% | 7.14% | variable |
| Federal Perkins Loan | 5.0% | 5.0% | 5.0% | fixed |
| Federal Nursing Loan | 5.0% | 5.0% | 5.0% | fixed |
| KU Endowment Loan | 5.0% | 5.0% | 5.0% | fixed |
| Alternative Loans | various depending on lender |
various depending on lender |
various depending on lender |
variable |
| PLUS loans | 8.2% | 8.2% | 7.94% | variable |
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