Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program Prior to July 1, 2013, 46424-46426 [2014-18785]
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46424
Federal Register / Vol. 79, No. 153 / Friday, August 8, 2014 / Notices
The last row in Chart 3 refers to
portions of Federal Consolidation Loans
attributable to loans made by the U.S.
Department of Health and Human
Services under subpart I of part A of
title VII of the Public Health Service
Act.
CHART 4—FIXED-RATE CONSOLIDATION LOANS
First disbursed
on or after
First disbursed
before
Max. rate
(percent)
Rate
7/1/1994
........................
7/1/1994
* 11/13/1997
........................
10/1/1998
7/1/2010
8.25
Weighted average of rates on the loans included in the consolidation, rounded to nearest
whole percent, but not less than 9.00%.
Weighted average of rates on the loans included in the consolidation, rounded upward to
nearest whole percent.
Weighted average of rates on the loans included in the consolidation, rounded to the nearest
higher 1/8 of 1 percent.
CHART 5—FIXED-RATE FEDERAL SUBSIDIZED AND UNSUBSIDIZED STAFFORD AND PLUS LOANS
First disbursed
on or after
Loan type
Student grade level
Subsidized ...............................
Subsidized ...............................
Subsidized ...............................
Subsidized ...............................
Unsubsidized ...........................
PLUS .......................................
7/1/2006
7/1/2008
7/1/2009
7/1/2006
7/1/2006
7/1/2006
7/1/2008
7/1/2009
7/1/2010
7/1/2010
7/1/2010
7/1/2010
Undergraduate Students ...........................................................
Undergraduate Students ...........................................................
Undergraduate Students ...........................................................
Graduate/Professional Students ................................................
All Students ...............................................................................
Parents and Graduate/Professional Students ...........................
Note: No new loans have been made under
the FFEL Program since June 30, 2010.
Electronic Access to This Document:
The official version of this document is
the document published in the Federal
Register. Free Internet access to the
official edition of the Federal Register
and the Code of Federal Regulations is
available via the Federal Digital System
at: www.gpo.gov/fdsys. At this site you
can view this document, as well as all
other documents of this Department
published in the Federal Register, in
text or Adobe Portable Document
Format (PDF). To use PDF you must
have Adobe Acrobat Reader, which is
available free at the site.
You may also access documents of the
Department published in the Federal
Register by using the article search
feature at: www.federalregister.gov.
Specifically, through the advanced
search feature at this site, you can limit
your search to documents published by
the Department.
Program Authority: 20 U.S.C. 1071 et seq.
Dated: August 5, 2014.
James W. Runcie,
Chief Operating Officer, Federal Student Aid.
mstockstill on DSK4VPTVN1PROD with NOTICES
First disbursed
before
[FR Doc. 2014–18787 Filed 8–7–14; 8:45 am]
BILLING CODE 4000–01–P
VerDate Mar<15>2010
16:51 Aug 07, 2014
Jkt 232001
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates of
Federal Student Loans Made Under the
William D. Ford Federal Direct Loan
Program Prior to July 1, 2013
Federal Student Aid,
Department of Education.
ACTION: Notice.
AGENCY:
Catalog of Federal Domestic Assistance
(CFDA) Number: 84.268.
DATES:
This notice is effective August 8,
2014.
In accordance with section
455(b)(9) of the Higher Education Act of
1965, as amended, the Chief Operating
Officer for Federal Student Aid
announces the interest rates for the
period July 1, 2014, through June 30,
2015, for loans made under the William
D. Ford Federal Direct Loan (Direct
Loan) Program prior to July 1, 2013. The
Chief Operating Officer takes this action
to give notice of Direct Loan interest
rates to the public.
FOR FURTHER INFORMATION CONTACT: Ian
Foss, U.S. Department of Education, 830
First Street NE., Room 114I1,
Washington, DC 20202. Telephone:
(202) 377–3681 or by email: ian.foss@
ed.gov.
If you use a telecommunications
device for the deaf (TDD) or a text
telephone (TTY), call the Federal Relay
Service (FRS), toll free, at 1–800–877–
8339.
Individuals with disabilities can
obtain this document in an accessible
format (e.g., braille, large print,
SUMMARY:
PO 00000
Frm 00030
Fmt 4703
Sfmt 4703
Rate
(percent)
6.80
6.00
5.60
6.80
6.80
8.50
audiotape, or compact disc) on request
to the contact person listed under FOR
FURTHER INFORMATION CONTACT.
SUPPLEMENTARY INFORMATION: Section
455(b) of the Higher Education Act of
1965, as amended (HEA) (20 U.S.C.
1087e(b)), provides formulas for
determining the interest rates charged to
borrowers for loans made under the
Direct Loan Program including: Federal
Direct Subsidized Stafford Loans (Direct
Subsidized Loans); Federal Direct
Unsubsidized Stafford Loans (Direct
Unsubsidized Loans); Federal Direct
PLUS Loans (Direct PLUS Loans); and
Federal Direct Consolidation Loans
(Direct Consolidation
Loans)(collectively, ‘‘Direct Loans.’’).
The Direct Loan Program includes
loans with variable interest rates and
loans with fixed interest rates. Most
loans made under the Direct Loan
Program before July 1, 2006, have
variable interest rates that change each
year. In most cases, the variable interest
rate formula that applies to a particular
loan depends on the date of the first
disbursement of the loan. The variable
rates are determined annually and are
effective for each 12-month period
beginning July 1 of one year and ending
June 30 of the following year.
Under section 455(b) of the HEA,
Direct Loans first disbursed on or after
July 1, 2006, have a fixed interest rate.
In the case of some Direct
Consolidation Loans, the interest rate is
determined by the date on which the
Direct Consolidation Loan application
was received. Direct Consolidation
E:\FR\FM\08AUN1.SGM
08AUN1
46425
Federal Register / Vol. 79, No. 153 / Friday, August 8, 2014 / Notices
Loans for which the application was
received on or after February 1, 1999,
have a fixed interest rate. This fixed rate
is based on the weighted average of the
loans that are consolidated, rounded up
to the nearest higher 1/8 of one percent.
Direct Consolidation Loans for which
the application was received on or after
February 1, 1999, and prior to July 1,
2013, have a maximum interest rate of
8.25 percent.
Under section 455(b) of the HEA, the
Direct Loan variable interest rates are
based on formulas that use the bond
equivalent rates of the 91-day Treasury
bills auctioned at the final auction held
before June 1 of each year, plus a
statutory add-on percentage. These
formulas apply to: all Direct Subsidized
Loans and Direct Unsubsidized Loans;
Direct Consolidation Loans for which
the application was received on or after
July 1, 1998, and before February 1,
1999; and Direct PLUS Loans disbursed
on or after July 1, 1998. In each case, the
calculated rate is capped by a maximum
made under the Direct Loan Program
prior to July 1, 2013. We published a
separate notice containing the interest
rates for Direct Loans made for the
current award year on July 1, 2014 (See
79 FR 37301).
Chart 1 contains information on the
interest rates for variable-rate Direct
Subsidized and Direct Unsubsidized
Loans.
Chart 2 contains information on the
interest rates for variable-rate Direct
PLUS Loans.
Chart 3 contains information on the
interest rates for variable-rate Direct
Subsidized Consolidation Loans and
Direct Unsubsidized Consolidation
Loans.
Chart 4 contains information on the
interest rates for variable-rate Direct
PLUS Consolidation Loans.
Chart 5 contains information on the
interest rates for fixed-rate Direct
Subsidized, Direct Unsubsidized, and
Direct PLUS Loans, and Direct
Consolidation Loans.
interest rate. The bond equivalent rate of
the 91-day Treasury bills auctioned on
May 27, 2014, which is used to calculate
the interest rates on these loans, is 0.03
percent.
In addition, under section 455(b)(4) of
the HEA, the interest rate for Direct
PLUS Loans that were first disbursed on
or after July 1, 1994, and before July 1,
1998, is based on the weekly average of
the one-year constant maturity Treasury
yield, as published by the Board of
Governors of the Federal Reserve
System on the last day of the calendar
week ending on or before June 26 of
each year, plus a statutory add-on
percentage. The calculated rate is
capped by a maximum interest rate. The
weekly average of the one-year constant
maturity Treasury yield published on
June 20, 2014, which is used to
calculate the interest rate on these loans,
is 0.10 percent.
This notice includes five charts
containing specific information on the
calculation of the interest rates for loans
CHART 1—VARIABLE-RATE DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED LOANS
Cohort
First disbursed
on or after
Index rate
Max. rate
(percent)
First disbursed
before
7/1/1994 .......................
7/1/1995 .......................
7/1/1998 .......................
7/1/1995
7/1/1998
7/1/2006
8.25
8.25
8.25
Margin
In-school,
grace,
deferment
(percent)
91-Day
T-bill rate
(percent)
0.03
0.03
0.03
Total rate
All other
periods
(percent)
3.10
2.50
1.70
3.10
3.10
2.30
In-school,
grace,
deferment
(percent)
All other
periods
(percent)
3.13
2.53
1.73
3.13
3.13
2.33
CHART 2—VARIABLE-RATE DIRECT PLUS LOANS
Cohort
Index rate
First disbursed on or after
First disbursed
before
7/1/1994 ...................................................
7/1/1998 ...................................................
7/1/1998
7/1/2006
In Charts 3 through 5, an asterisk
following a date in a cohort field
indicates that the trigger for the rate to
apply is an application for a Direct
Consolidation Loan being received
Max. rate
(percent)
91-Day
T-bill rate
(percent)
9.00
8.25
1-Year constant treasury
maturity
(percent)
........................
0.03
0.13
........................
either ‘‘on or after’’ or ‘‘before’’ the date
in the cohort field. For example, the
fourth row in Chart 3 describes the
interest rate for Direct Subsidized and
Unsubsidized Consolidation Loans for
Margin
(percent)
Total Rate
(percent)
3.10
3.10
3.23
3.13
which the application was received
before October 1, 1998, and that were
first disbursed on or after October 1,
1998.
CHART 3—VARIABLE-RATE DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED CONSOLIDATION LOANS
mstockstill on DSK4VPTVN1PROD with NOTICES
Cohort
First disbursed
on or after
7/1/1994 .......................
7/1/1995 .......................
7/1/1998 .......................
10/1/1998 .....................
VerDate Mar<15>2010
Index rate
First disbursed
before
Max. rate
(percent)
7/1/1995
7/1/1998
10/1/1998
* 10/1/1998
16:51 Aug 07, 2014
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8.25
8.25
8.25
8.25
PO 00000
Frm 00031
Margin
In-school,
grace,
deferment
(percent)
91-Day
T-bill rate
(percent)
0.03
0.03
0.03
0.03
Fmt 4703
Sfmt 4703
Total rate
All other
periods
(percent)
3.10
2.50
1.70
1.70
E:\FR\FM\08AUN1.SGM
3.10
3.10
2.30
2.30
08AUN1
In-school,
grace,
deferment
(percent)
3.13
2.53
1.73
1.73
All other
periods
(percent)
3.13
3.13
2.33
2.33
46426
Federal Register / Vol. 79, No. 153 / Friday, August 8, 2014 / Notices
CHART 3—VARIABLE-RATE DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED CONSOLIDATION LOANS—Continued
Cohort
First disbursed
on or after
Index rate
Max. rate
(percent)
First disbursed
before
10/1/1998 * ...................
* 2/1/1999
Margin
In-school,
grace,
deferment
(percent)
91-Day
T-bill rate
(percent)
8.25
0.03
Total rate
In-school,
grace,
deferment
(percent)
All other
periods
(percent)
2.30
2.30
All other
periods
(percent)
2.33
2.33
CHART 4—VARIABLE-RATE DIRECT PLUS CONSOLIDATION LOANS
Cohort
Index rate
First disbursed on or after
7/1/1994 ...........................
7/1/1998 ...........................
10/1/1998 .........................
10/1/1998 * .......................
Max. rate
(percent)
First
disbursed
before
7/1/1998
10/1/1998
* 10/1/1998
* 2/1/1999
9.00
9.00
9.00
8.25
Margin
91-Day
T-bill rate
(percent)
1-Year constant treasury maturity
(percent)
....................
0.03
0.03
0.03
In-school,
grace,
deferment
(percent)
0.10
....................
....................
....................
Total rate
All other
periods
(percent)
3.10
3.10
3.10
2.30
3.10
3.10
3.10
2.30
In-school,
grace,
deferment
(percent)
All other
periods
(percent)
3.20
3.13
3.13
2.33
3.20
3.13
3.13
2.33
CHART 5—FIXED-RATE DIRECT SUBSIDIZED, DIRECT UNSUBSIDIZED, DIRECT PLUS LOANS, AND DIRECT CONSOLIDATION
LOANS
Loan type
Student grade level
Subsidized ......................................
Subsidized ......................................
Subsidized ......................................
Subsidized ......................................
Subsidized ......................................
Subsidized ......................................
Unsubsidized ..................................
PLUS ..............................................
Undergraduates .............................
Undergraduates .............................
Undergraduates .............................
Undergraduates .............................
Undergraduates .............................
Graduate/Professional Students ....
All ...................................................
Parents
and
Graduate/Professionals.
All ...................................................
Consolidation ..................................
First disbursed
on or after
First disbursed
before
7/1/2006
7/1/2008
7/1/2009
7/1/2010
7/1/2011
7/1/2006
7/1/2006
7/1/2006
7/1/2008
7/1/2009
7/1/2010
7/1/2011
7/1/2013
7/1/2012
7/1/2013
7/1/2013
6.80%
6.00%
5.60%
4.50%
3.40%
6.80%
6.80%
7.90%
2/1/1999
7/1/2013
Weighted average of rates on the
loans included in the consolidation, rounded to 1/8 of 1 percent,
up to 8.25 percent.
mstockstill on DSK4VPTVN1PROD with NOTICES
Note: Interest rates for Direct Loans first
disbursed on or after July 1, 2013, are
published in a separate Federal Register
notices, as follows:
• For Direct Loans first disbursed on or
after July 1, 2013, and prior to July 1, 2014,
see 78 FR 59011.
• For Direct Loans first disbursed on or
after July 1, 2014, and prior to July 1, 2014,
see 79 FR 37301.
You may also access documents of the
Department published in the Federal
Register by using the article search
feature at: www.federalregister.gov.
Specifically, through the advanced
search feature at this site, you can limit
your search to documents published by
the Department.
Electronic Access to This Document:
The official version of this document is
the document published in the Federal
Register. Free Internet access to the
official edition of the Federal Register
and the Code of Federal Regulations is
available via the Federal Digital System
at: www.gpo.gov/fdsys. At this site you
can view this document, as well as all
other documents of this Department
published in the Federal Register, in
text or Adobe Portable Document
Format (PDF). To use PDF you must
have Adobe Acrobat Reader, which is
available free at the site.
Dated: August 5, 2014.
James W. Runcie,
Chief Operating Officer Federal Student Aid.
VerDate Mar<15>2010
17:40 Aug 07, 2014
Jkt 232001
Program Authority: 20 U.S.C. 1087 et seq.
[FR Doc. 2014–18785 Filed 8–7–14; 8:45 am]
BILLING CODE 4000–01–P
PO 00000
Frm 00032
Fmt 4703
Sfmt 4703
Rate
DEPARTMENT OF EDUCATION
Final Waiver and Extension of the
Project Period; Training and Advisory
Services—Equity Assistance Centers
Program
Office of Elementary and
Secondary Education, Department of
Education.
ACTION: Final waiver and extension of
the project period.
AGENCY:
For the 36-month projects
funded in fiscal year (FY) 2011 under
the Training and Advisory Services—
Equity Assistance Centers (EACs)
program, the Secretary waives the
requirements that generally prohibit
project period extensions involving the
obligation of additional Federal funds.
The Secretary also extends the project
period of these grants for up to an
additional 24 months. This enables the
10 current grantees under the EACs
program to continue to receive Federal
SUMMARY:
E:\FR\FM\08AUN1.SGM
08AUN1
]]>Agencies
[Federal Register Volume 79, Number 153 (Friday, August 8, 2014)]
[Notices]
[Pages 46424-46426]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-18785]
-----------------------------------------------------------------------
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates of Federal Student Loans Made
Under the William D. Ford Federal Direct Loan Program Prior to July 1,
2013
AGENCY: Federal Student Aid, Department of Education.
ACTION: Notice.
-----------------------------------------------------------------------
Catalog of Federal Domestic Assistance (CFDA) Number: 84.268.
DATES: This notice is effective August 8, 2014.
SUMMARY: In accordance with section 455(b)(9) of the Higher Education
Act of 1965, as amended, the Chief Operating Officer for Federal
Student Aid announces the interest rates for the period July 1, 2014,
through June 30, 2015, for loans made under the William D. Ford Federal
Direct Loan (Direct Loan) Program prior to July 1, 2013. The Chief
Operating Officer takes this action to give notice of Direct Loan
interest rates to the public.
FOR FURTHER INFORMATION CONTACT: Ian Foss, U.S. Department of
Education, 830 First Street NE., Room 114I1, Washington, DC 20202.
Telephone: (202) 377-3681 or by email: ian.foss@ed.gov.
If you use a telecommunications device for the deaf (TDD) or a text
telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1-
800-877-8339.
Individuals with disabilities can obtain this document in an
accessible format (e.g., braille, large print, audiotape, or compact
disc) on request to the contact person listed under FOR FURTHER
INFORMATION CONTACT.
SUPPLEMENTARY INFORMATION: Section 455(b) of the Higher Education Act
of 1965, as amended (HEA) (20 U.S.C. 1087e(b)), provides formulas for
determining the interest rates charged to borrowers for loans made
under the Direct Loan Program including: Federal Direct Subsidized
Stafford Loans (Direct Subsidized Loans); Federal Direct Unsubsidized
Stafford Loans (Direct Unsubsidized Loans); Federal Direct PLUS Loans
(Direct PLUS Loans); and Federal Direct Consolidation Loans (Direct
Consolidation Loans)(collectively, ``Direct Loans.'').
The Direct Loan Program includes loans with variable interest rates
and loans with fixed interest rates. Most loans made under the Direct
Loan Program before July 1, 2006, have variable interest rates that
change each year. In most cases, the variable interest rate formula
that applies to a particular loan depends on the date of the first
disbursement of the loan. The variable rates are determined annually
and are effective for each 12-month period beginning July 1 of one year
and ending June 30 of the following year.
Under section 455(b) of the HEA, Direct Loans first disbursed on or
after July 1, 2006, have a fixed interest rate.
In the case of some Direct Consolidation Loans, the interest rate
is determined by the date on which the Direct Consolidation Loan
application was received. Direct Consolidation
[[Page 46425]]
Loans for which the application was received on or after February 1,
1999, have a fixed interest rate. This fixed rate is based on the
weighted average of the loans that are consolidated, rounded up to the
nearest higher 1/8 of one percent. Direct Consolidation Loans for which
the application was received on or after February 1, 1999, and prior to
July 1, 2013, have a maximum interest rate of 8.25 percent.
Under section 455(b) of the HEA, the Direct Loan variable interest
rates are based on formulas that use the bond equivalent rates of the
91-day Treasury bills auctioned at the final auction held before June 1
of each year, plus a statutory add-on percentage. These formulas apply
to: all Direct Subsidized Loans and Direct Unsubsidized Loans; Direct
Consolidation Loans for which the application was received on or after
July 1, 1998, and before February 1, 1999; and Direct PLUS Loans
disbursed on or after July 1, 1998. In each case, the calculated rate
is capped by a maximum interest rate. The bond equivalent rate of the
91-day Treasury bills auctioned on May 27, 2014, which is used to
calculate the interest rates on these loans, is 0.03 percent.
In addition, under section 455(b)(4) of the HEA, the interest rate
for Direct PLUS Loans that were first disbursed on or after July 1,
1994, and before July 1, 1998, is based on the weekly average of the
one-year constant maturity Treasury yield, as published by the Board of
Governors of the Federal Reserve System on the last day of the calendar
week ending on or before June 26 of each year, plus a statutory add-on
percentage. The calculated rate is capped by a maximum interest rate.
The weekly average of the one-year constant maturity Treasury yield
published on June 20, 2014, which is used to calculate the interest
rate on these loans, is 0.10 percent.
This notice includes five charts containing specific information on
the calculation of the interest rates for loans made under the Direct
Loan Program prior to July 1, 2013. We published a separate notice
containing the interest rates for Direct Loans made for the current
award year on July 1, 2014 (See 79 FR 37301).
Chart 1 contains information on the interest rates for variable-
rate Direct Subsidized and Direct Unsubsidized Loans.
Chart 2 contains information on the interest rates for variable-
rate Direct PLUS Loans.
Chart 3 contains information on the interest rates for variable-
rate Direct Subsidized Consolidation Loans and Direct Unsubsidized
Consolidation Loans.
Chart 4 contains information on the interest rates for variable-
rate Direct PLUS Consolidation Loans.
Chart 5 contains information on the interest rates for fixed-rate
Direct Subsidized, Direct Unsubsidized, and Direct PLUS Loans, and
Direct Consolidation Loans.
Chart 1--Variable-Rate Direct Subsidized and Direct Unsubsidized Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate Margin Total rate
--------------------------------------------------------- -------------------------------------------------------------------------------
Max. rate In-school, In-school,
First (percent) 91-Day T-bill grace, All other grace, All other
First disbursed on or after disbursed rate (percent) deferment periods deferment periods
before (percent) (percent) (percent) (percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994................................ 7/1/1995 8.25 0.03 3.10 3.10 3.13 3.13
7/1/1995................................ 7/1/1998 8.25 0.03 2.50 3.10 2.53 3.13
7/1/1998................................ 7/1/2006 8.25 0.03 1.70 2.30 1.73 2.33
--------------------------------------------------------------------------------------------------------------------------------------------------------
Chart 2--Variable-Rate Direct PLUS Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate
------------------------------------------------------------------------- --------------------------------
1-Year
First Max. rate constant Margin Total Rate
First disbursed on or after disbursed (percent) 91-Day T-bill treasury (percent) (percent)
before rate (percent) maturity
(percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994................................................ 7/1/1998 9.00 .............. 0.13 3.10 3.23
7/1/1998................................................ 7/1/2006 8.25 0.03 .............. 3.10 3.13
--------------------------------------------------------------------------------------------------------------------------------------------------------
In Charts 3 through 5, an asterisk following a date in a cohort
field indicates that the trigger for the rate to apply is an
application for a Direct Consolidation Loan being received either ``on
or after'' or ``before'' the date in the cohort field. For example, the
fourth row in Chart 3 describes the interest rate for Direct Subsidized
and Unsubsidized Consolidation Loans for which the application was
received before October 1, 1998, and that were first disbursed on or
after October 1, 1998.
Chart 3--Variable-Rate Direct Subsidized and Direct Unsubsidized Consolidation Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate Margin Total rate
--------------------------------------------------------- -------------------------------------------------------------------------------
Max. rate In-school, In-school,
First (percent) 91-Day T-bill grace, All other grace, All other
First disbursed on or after disbursed rate (percent) deferment periods deferment periods
before (percent) (percent) (percent) (percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994................................ 7/1/1995 8.25 0.03 3.10 3.10 3.13 3.13
7/1/1995................................ 7/1/1998 8.25 0.03 2.50 3.10 2.53 3.13
7/1/1998................................ 10/1/1998 8.25 0.03 1.70 2.30 1.73 2.33
10/1/1998............................... * 10/1/1998 8.25 0.03 1.70 2.30 1.73 2.33
[[Page 46426]]
10/1/1998 *............................. * 2/1/1999 8.25 0.03 2.30 2.30 2.33 2.33
--------------------------------------------------------------------------------------------------------------------------------------------------------
Chart 4--Variable-Rate Direct PLUS Consolidation Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate Margin Total rate
-------------------------------------------------------------- -----------------------------------------------------------------------------
1-Year
First Max. rate 91-Day T- constant In-school, All other In-school, All other
First disbursed on or after disbursed (percent) bill rate treasury grace, periods grace, periods
before (percent) maturity deferment (percent) deferment (percent)
(percent) (percent) (percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994........................................ 7/1/1998 9.00 ........... 0.10 3.10 3.10 3.20 3.20
7/1/1998........................................ 10/1/1998 9.00 0.03 ........... 3.10 3.10 3.13 3.13
10/1/1998....................................... * 10/1/1998 9.00 0.03 ........... 3.10 3.10 3.13 3.13
10/1/1998 *..................................... * 2/1/1999 8.25 0.03 ........... 2.30 2.30 2.33 2.33
--------------------------------------------------------------------------------------------------------------------------------------------------------
Chart 5--Fixed-Rate Direct Subsidized, Direct Unsubsidized, Direct PLUS Loans, and Direct Consolidation Loans
----------------------------------------------------------------------------------------------------------------
First First
Loan type Student grade level disbursed on disbursed Rate
or after before
----------------------------------------------------------------------------------------------------------------
Subsidized........................ Undergraduates....... 7/1/2006 7/1/2008 6.80%
Subsidized........................ Undergraduates....... 7/1/2008 7/1/2009 6.00%
Subsidized........................ Undergraduates....... 7/1/2009 7/1/2010 5.60%
Subsidized........................ Undergraduates....... 7/1/2010 7/1/2011 4.50%
Subsidized........................ Undergraduates....... 7/1/2011 7/1/2013 3.40%
Subsidized........................ Graduate/Professional 7/1/2006 7/1/2012 6.80%
Students.
Unsubsidized...................... All.................. 7/1/2006 7/1/2013 6.80%
PLUS.............................. Parents and Graduate/ 7/1/2006 7/1/2013 7.90%
Professionals.
Consolidation..................... All.................. 2/1/1999 7/1/2013 Weighted average of
rates on the loans
included in the
consolidation,
rounded to 1/8 of 1
percent, up to 8.25
percent.
----------------------------------------------------------------------------------------------------------------
Note: Interest rates for Direct Loans first disbursed on or
after July 1, 2013, are published in a separate Federal Register
notices, as follows:
For Direct Loans first disbursed on or after July 1,
2013, and prior to July 1, 2014, see 78 FR 59011.
For Direct Loans first disbursed on or after July 1,
2014, and prior to July 1, 2014, see 79 FR 37301.
Electronic Access to This Document: The official version of this
document is the document published in the Federal Register. Free
Internet access to the official edition of the Federal Register and the
Code of Federal Regulations is available via the Federal Digital System
at: www.gpo.gov/fdsys. At this site you can view this document, as well
as all other documents of this Department published in the Federal
Register, in text or Adobe Portable Document Format (PDF). To use PDF
you must have Adobe Acrobat Reader, which is available free at the
site.
You may also access documents of the Department published in the
Federal Register by using the article search feature at:
www.federalregister.gov. Specifically, through the advanced search
feature at this site, you can limit your search to documents published
by the Department.
Program Authority: 20 U.S.C. 1087 et seq.
Dated: August 5, 2014.
James W. Runcie,
Chief Operating Officer Federal Student Aid.
[FR Doc. 2014-18785 Filed 8-7-14; 8:45 am]
BILLING CODE 4000-01-P
