Mapping Your Future: Direct Loan fees for 2020-21 announced



COVID-19 information and resources
StudentAidPandemic.org

Newsroom

Direct Loan fees for 2020-21 announced

By Catherine Mueller

June 25, 2020

The Department of Education this week announced the new fees to be charged to borrowers under the Direct Loan Program.

According to a June 23 Electronic Announcement, the new fees for 10/1/2020 through 9/30/2021 will be:

  • 1.057% for Federal Direct Stafford Loans
  • 4.228% for Federal Direct PLUS Loans

In addition to the sequester-required changes to Direct Loan Fees, the announcement also includes information about the sequester-required changes in the percentage reduction that institutions must apply to award in the Iraq-Afghanistan Service Grant and TEACH Grant programs where the first disbursement is on or after Oct. 1, 2020.