Skip to Content

Federal student loan interest rate increases for the 2024-2025 school year

(NBC, KYMA/KECY) - Student loan interest rates are on the rise, and it is the biggest jump in at least a decade.

On Tuesday the U.S. Department of Education said federal undergraduate loans will be 6.53% for the 2024-2025 school year. This year, the rate was 5.5%.

Graduate students can expect an interest rate of 8.08%, compared to the current 7.05%. In addition, for graduate students and parents, the rate goes to 9.08%, an increase from 8.05%.

Such rates are determined once a year, and based in part on the may auction of the 10-year treasury note.

The Treasury yield has climbed while the federal reserve has kept interest rates high until inflation comes down.

Article Topic Follows: Education

Jump to comments ↓

NBC News

Author Profile Photo

Dillon Fuhrman

If you have any story ideas, reach out to him at


KYMA KECY is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content