The present disclosure describes systems and methods for the granular, interference aware selection of modulation and coding schemes (MCS) per-sub-band, per-stream, and in some examples, per-user. In some examples, channel condition metrics regarding wireless communication conditions, including interference conditions, from a communication node of a wireless access system may be received. Based at least on the received channel condition metrics indicative of interference, a multidimensional interference margin generator may determine a per-sub-band per-stream margin. A modulation and coding scheme may be selected based on the per-sub-band per-stream margin. In some examples, the selected modulation and coding scheme may be transmitted to various modulators/demodulators, encoders/decoders, and/or other communication nodes within the wireless access system. In some examples, a scheduler may select an allocation based at least on the per-sub-band per-stream margin.