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Student loan rates (2026–27)

Federal Direct Loans (first disbursed July 1, 2026 – June 30, 2027)

• Direct Subsidized & Unsubsidized (undergraduate)6.52% fixed (10-yr Treasury 4.468% + 2.05% add-on; cap 8.25%) · fee 1.057%
• Direct Unsubsidized (graduate/professional)8.07% fixed (10-yr Treasury 4.468% + 3.6% add-on; cap 9.5%) · fee 1.057%
• Direct PLUS (parents & grad/professional)9.07% fixed (10-yr Treasury 4.468% + 4.6% add-on; cap 10.5%) · fee 4.228%

Rates: ED/FSA electronic announcement, 2026-06-04 and Federal Register notice 2026-09-10. Fees: Origination fees for loans first disbursed Oct 1, 2020 – Sep 30, 2027 (FY27 sequester announcement, 2026-05-13).

Private student loan refinancing

Refinancing federal loans with a private lender replaces them with a private loan, so federal repayment and forgiveness programs no longer apply to that debt. Compare the rate drop against what you give up.

• SoFi
  Fixed APR 4.49%–10.99%Variable APR not found

  5-year fixed 4.49%–10.99% APR shown (with all discounts); other terms start higher; no origination fees sofi.com, 2026-10-12

• Splash Financial
  Fixed APR 4.29%–11.37%Variable APR 4.74%–11.37%

  Marketplace (loans from partner lenders); terms 2–7 years shown in example splashfinancial.com, 2026-10-12

• Earnest
  Fixed APR not foundVariable APR not found

  Lowest starting rates shown: 4.45% and 6.28% (incl. 0.25% autopay); 'No fees of any kind'; full ranges not found earnest.com, 2026-10-12

• ELFI
  Fixed APR not foundVariable APR not found

  Starting APRs shown: fixed from 4.29%, variable from 4.74%; terms 5–20 years; origination fee 0% (ELFI refinance terms page). Maximum rates not found. elfi.com, 2026-10-12

Student loan refinance break-even →

Not financial advice. Published ranges from each lender's own page with the date we read it; your offer depends on credit, income and state. No lender pays for inclusion or rank.

FAQ

What is the 2026–27 federal student loan rate?

6.52% for undergraduate Direct Subsidized/Unsubsidized, 8.07% for graduate Unsubsidized, 9.07% for PLUS, for loans first disbursed July 1, 2026 – June 30, 2027 (ED/FSA).

Estimates, not financial advice. Taxes, insurance, PMI and fees vary by lender, county and city; confirm with your lender, dealer and state agency before acting.