Annual Notice of Interest Rates of Federal Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010, 46422-46424 [2014-18787]
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46422
Federal Register / Vol. 79, No. 153 / Friday, August 8, 2014 / Notices
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Colonel Jeffrey R. Eckstein, DFO, via
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received by the DFO.
Jeffrey R. Eckstein,
Colonel, Corps of Engineers, Designated
Federal Officer.
[FR Doc. 2014–18767 Filed 8–7–14; 8:45 am]
BILLING CODE 3720–58–P
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DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates of
Federal Student Loans Made Under the
Federal Family Education Loan
Program Prior to July 1, 2010
Federal Student Aid,
Department of Education.
ACTION: Notice.
AGENCY:
Catalog of Federal Domestic
Assistance (CFDA) Number: 84.032.
SUMMARY: In accordance with section
427A 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 certain loans made under the
Federal Family Education Loan (FFEL)
Program prior to July 1, 2010. The Chief
Operating Officer takes this action to
give notice of FFEL Program loan
interest rates to the public.
DATES: This notice is effective August 8,
2014.
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
427A of the Higher Education Act of
1965, as amended (HEA) (20 U.S.C.
1077a), provides formulas for
determining the interest rates charged to
borrowers on loans made under the
Federal Family Education Loan (FFEL)
Program, including Federal Subsidized
and Unsubsidized Stafford Loans,
Federal PLUS Loans, and Federal
Consolidation Loans.
The FFEL Program includes loans
with variable interest rates and loans
with fixed interest rates. Most loans
made under the FFEL 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 usually
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.
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Sfmt 4703
Under section 427A(k) of the HEA,
FFEL Program loans first disbursed on
or after July 1, 2006, have a fixed
interest rate.
In the case of some Federal
Consolidation Loans, the interest rate is
determined by the date on which the
Federal Consolidation Loan application
was received. Federal Consolidation
Loans for which the application was
received on or after October 1, 1998,
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
up to a maximum rate of 8.25 percent.
FFEL variable interest rates are based
on formulas that use the bond
equivalent rate of the 91-day Treasury
bills auctioned at the final auction held
before June 1 of each year plus a
statutorily established add-on. These
formulas apply to: All Federal
Subsidized and Unsubsidized Stafford
Loans first disbursed before October 1,
1992, that have been converted to
variable rate loans; all Federal
Subsidized and Unsubsidized Stafford
Loans first disbursed on or after October
1, 1992, and before July 1, 2006; Federal
PLUS Loans first disbursed on or after
July 1, 1998, and before July 1, 2006;
and Federal Consolidation Loans for
which the Federal Consolidation Loan
application was received on or after
November 13, 1997, and before October
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.
For Federal PLUS loans first
disbursed before July 1, 1998, the
interest rate 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 interest rates for loans
made under the FFEL Program:
Chart 1 contains information on the
interest rates for Federal Subsidized and
Unsubsidized Stafford Loans that were
made as fixed-rate loans, but were
subsequently converted to variable-rate
loans.
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Federal Register / Vol. 79, No. 153 / Friday, August 8, 2014 / Notices
Chart 2 contains information on the
interest rates for variable-rate Federal
Subsidized and Unsubsidized Stafford
Loans.
Chart 5 contains information on the
interest rates for fixed-rate Federal
Subsidized and Unsubsidized Stafford
and PLUS Loans.
Chart 3 contains information on the
interest rates for variable-rate Federal
PLUS Loans.
Chart 4 contains information on the
interest rates for fixed-rate Federal
Consolidation Loans.
CHART 1—‘‘CONVERTED’’ VARIABLE-RATE FEDERAL SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS
Cohort
First disbursed
on or after
7/1/1988
7/23/1992
7/23/1992
7/23/1992
7/23/1992
7/23/1992
Original fixed interest rate
(percent)
First disbursed
before
7/23/1992
10/1/1992
7/1/1994
7/1/1994
7/1/1994
7/1/1994
8.00, increasing to 10.00 .........................................
8.00, increasing to 10.00 .........................................
7.00 ..........................................................................
8.00 ..........................................................................
9.00 ..........................................................................
8.00, increasing to 10.00 .........................................
Note: The FFEL Program loans represented
by the second row of the chart were only
made to ‘‘new borrowers’’ on or after July 23,
1992. Whether the FFEL Program loans
represented by the third through sixth rows
of the chart were made to a specific borrower
91-Day
T-bill rate
(percent)
Max. rate
(percent)
10.00
10.00
7.00
8.00
9.00
10.00
depends on the interest rate on a borrower’s
existing loans at the time that the borrower
received the loans between July 23, 1992 and
prior to July 1, 1994.
In Charts 2 and 3, a dagger following
a date in a cohort field indicates that the
Margin
(percent)
0.03
0.03
0.03
0.03
0.03
0.03
3.25
3.25
3.10
3.10
3.10
3.10
Total rate
(percent)
3.28
3.28
3.13
3.13
3.13
3.13
trigger for the rate to apply is a period
of enrollment for which the loan was
intended either ‘‘ending before’’ or
‘‘beginning on or after’’ the date in the
cohort field.
CHART 2—VARIABLE-RATE FEDERAL SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS
Cohort
Margin
First disbursed
on or after
First disbursed
before
10/1/1992
7/1/1994
7/1/1994
7/1/1995
7/1/1998
91-Day
T-bill rate
(percent)
Max. rate
(percent)
7/1/1994
7/1/1994 †
7/1/1995
7/1/1998
7/1/2006
9.00
9.00
8.25
8.25
8.25
Note: The FFEL Program loans represented
in the first row in Chart 2 were only made
to ‘‘new borrowers’’ on or after October 1,
1992. The FFEL Program loans represented in
the second row in Chart 2 were only made
to ‘‘new borrowers’’ on or after July 1, 1994.
The FFEL Program loans represented in the
third row in Chart 2 must—in addition to
having been first disbursed on or after July
In-school,
grace,
deferment
(percent)
0.03
0.03
0.03
0.03
0.03
Total rate
In-school,
grace,
deferment
(percent)
All other
periods
(percent)
3.10
3.10
3.10
2.50
1.70
1, 1994, and before July 1, 1995—have been
made for a period of enrollment that began
on or included July 1, 1994.
In Charts 3 and 4, an asterisk
following a date in a cohort field
indicates that the relevant trigger is an
application for a Federal Consolidation
Loan being received either ‘‘on or after’’
3.10
3.10
3.10
3.10
2.30
3.13
3.13
3.13
2.53
1.73
All other
periods
(percent)
3.13
3.13
3.13
3.13
2.33
or ‘‘before’’ the date in the cohort field.
For example, the sixth row in Chart 3
describes the interest rate for a Federal
Consolidation Loan for which the
application was received on or after
November 13, 1997, but before October
1, 1998.
CHART 3—VARIABLE-RATE FEDERAL PLUS, SLS, AND CONSOLIDATION LOANS
Cohort
Index rate
mstockstill on DSK4VPTVN1PROD with NOTICES
Loan type
First disbursed
on or after
PLUS and SLS .............
SLS ..............................
PLUS ............................
PLUS ............................
PLUS ............................
Consolidation ...............
HHS Portion of Consolidation ........................
........................
10/1/1992
10/1/1992
7/1/1994
7/1/1998
* 11/13/1997
........................
91-Day
T-bill rate
(percent)
1-Year constant treasury
maturity
(percent)
12.00
11.00
10.00
9.00
9.00
8.25
........................
........................
........................
........................
0.03
0.03
0.10
0.10
0.10
0.10
........................
........................
3.25
3.10
3.10
3.10
3.10
3.10
3.35
3.20
3.20
3.20
3.13
3.13
........................
0.03
........................
3.00
3.03
10/1/1992
† 7/1/1994
7/1/1994
7/1/1998
7/1/2006
* 10/1/1998
........................
Max. rate
(percent)
First disbursed
before
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Margin
(percent)
Total rate
(percent)
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
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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
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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:
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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
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Agencies
[Federal Register Volume 79, Number 153 (Friday, August 8, 2014)]
[Notices]
[Pages 46422-46424]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-18787]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates of Federal Student Loans Made
Under the Federal Family Education Loan Program Prior to July 1, 2010
AGENCY: Federal Student Aid, Department of Education.
ACTION: Notice.
-----------------------------------------------------------------------
Catalog of Federal Domestic Assistance (CFDA) Number: 84.032.
SUMMARY: In accordance with section 427A 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 certain loans made under the Federal Family Education
Loan (FFEL) Program prior to July 1, 2010. The Chief Operating Officer
takes this action to give notice of FFEL Program loan interest rates to
the public.
DATES: This notice is effective August 8, 2014.
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 427A of the Higher Education Act of
1965, as amended (HEA) (20 U.S.C. 1077a), provides formulas for
determining the interest rates charged to borrowers on loans made under
the Federal Family Education Loan (FFEL) Program, including Federal
Subsidized and Unsubsidized Stafford Loans, Federal PLUS Loans, and
Federal Consolidation Loans.
The FFEL Program includes loans with variable interest rates and
loans with fixed interest rates. Most loans made under the FFEL 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 usually 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 427A(k) of the HEA, FFEL Program loans first
disbursed on or after July 1, 2006, have a fixed interest rate.
In the case of some Federal Consolidation Loans, the interest rate
is determined by the date on which the Federal Consolidation Loan
application was received. Federal Consolidation Loans for which the
application was received on or after October 1, 1998, 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 up to a maximum rate of 8.25 percent.
FFEL variable interest rates are based on formulas that use the
bond equivalent rate of the 91-day Treasury bills auctioned at the
final auction held before June 1 of each year plus a statutorily
established add-on. These formulas apply to: All Federal Subsidized and
Unsubsidized Stafford Loans first disbursed before October 1, 1992,
that have been converted to variable rate loans; all Federal Subsidized
and Unsubsidized Stafford Loans first disbursed on or after October 1,
1992, and before July 1, 2006; Federal PLUS Loans first disbursed on or
after July 1, 1998, and before July 1, 2006; and Federal Consolidation
Loans for which the Federal Consolidation Loan application was received
on or after November 13, 1997, and before October 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.
For Federal PLUS loans first disbursed before July 1, 1998, the
interest rate 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 interest rates for loans made under the FFEL
Program:
Chart 1 contains information on the interest rates for Federal
Subsidized and Unsubsidized Stafford Loans that were made as fixed-rate
loans, but were subsequently converted to variable-rate loans.
[[Page 46423]]
Chart 2 contains information on the interest rates for variable-
rate Federal Subsidized and Unsubsidized Stafford Loans.
Chart 3 contains information on the interest rates for variable-
rate Federal PLUS Loans.
Chart 4 contains information on the interest rates for fixed-rate
Federal Consolidation Loans.
Chart 5 contains information on the interest rates for fixed-rate
Federal Subsidized and Unsubsidized Stafford and PLUS Loans.
Chart 1--``Converted'' Variable-Rate Federal Subsidized and Unsubsidized Stafford Loans
----------------------------------------------------------------------------------------------------------------
Cohort
------------------------------- 91-Day T-
First First Original fixed interest rate Max. rate bill rate Margin Total rate
disbursed on disbursed (percent) (percent) (percent) (percent) (percent)
or after before
----------------------------------------------------------------------------------------------------------------
7/1/1988 7/23/1992 8.00, increasing to 10.00... 10.00 0.03 3.25 3.28
7/23/1992 10/1/1992 8.00, increasing to 10.00... 10.00 0.03 3.25 3.28
7/23/1992 7/1/1994 7.00........................ 7.00 0.03 3.10 3.13
7/23/1992 7/1/1994 8.00........................ 8.00 0.03 3.10 3.13
7/23/1992 7/1/1994 9.00........................ 9.00 0.03 3.10 3.13
7/23/1992 7/1/1994 8.00, increasing to 10.00... 10.00 0.03 3.10 3.13
----------------------------------------------------------------------------------------------------------------
Note: The FFEL Program loans represented by the second row of
the chart were only made to ``new borrowers'' on or after July 23,
1992. Whether the FFEL Program loans represented by the third
through sixth rows of the chart were made to a specific borrower
depends on the interest rate on a borrower's existing loans at the
time that the borrower received the loans between July 23, 1992 and
prior to July 1, 1994.
In Charts 2 and 3, a dagger following a date in a cohort field
indicates that the trigger for the rate to apply is a period of
enrollment for which the loan was intended either ``ending before'' or
``beginning on or after'' the date in the cohort field.
Chart 2--Variable-Rate Federal Subsidized and Unsubsidized Stafford Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Margin Total rate
--------------------------------------- ---------------------------------------------------------------------------
Max. rate 91-Day T-bill In-school, grace, In-school, grace,
First disbursed on First disbursed (percent) rate (percent) deferment All other periods deferment All other periods
or after before (percent) (percent) (percent) (percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1992 7/1/1994 9.00 0.03 3.10 3.10 3.13 3.13
7/1/1994 7/1/1994 [dagger] 9.00 0.03 3.10 3.10 3.13 3.13
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
--------------------------------------------------------------------------------------------------------------------------------------------------------
Note: The FFEL Program loans represented in the first row in
Chart 2 were only made to ``new borrowers'' on or after October 1,
1992. The FFEL Program loans represented in the second row in Chart
2 were only made to ``new borrowers'' on or after July 1, 1994. The
FFEL Program loans represented in the third row in Chart 2 must--in
addition to having been first disbursed on or after July 1, 1994,
and before July 1, 1995--have been made for a period of enrollment
that began on or included July 1, 1994.
In Charts 3 and 4, an asterisk following a date in a cohort field
indicates that the relevant trigger is an application for a Federal
Consolidation Loan being received either ``on or after'' or ``before''
the date in the cohort field. For example, the sixth row in Chart 3
describes the interest rate for a Federal Consolidation Loan for which
the application was received on or after November 13, 1997, but before
October 1, 1998.
Chart 3--Variable-Rate Federal PLUS, SLS, and Consolidation Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate
-------------------------------- --------------------------------
1-Year
Loan type First First Max. rate constant Margin Total rate
disbursed on disbursed (percent) 91-Day T-bill treasury (percent) (percent)
or after before rate (percent) maturity
(percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
PLUS and SLS............................ .............. 10/1/1992 12.00 .............. 0.10 3.25 3.35
SLS..................................... 10/1/1992 [dagger] 7/1/ 11.00 .............. 0.10 3.10 3.20
1994
PLUS.................................... 10/1/1992 7/1/1994 10.00 .............. 0.10 3.10 3.20
PLUS.................................... 7/1/1994 7/1/1998 9.00 .............. 0.10 3.10 3.20
PLUS.................................... 7/1/1998 7/1/2006 9.00 0.03 .............. 3.10 3.13
Consolidation........................... * 11/13/1997 * 10/1/1998 8.25 0.03 .............. 3.10 3.13
HHS Portion of Consolidation............ .............. .............. .............. 0.03 .............. 3.00 3.03
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 46424]]
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 First
disbursed on disbursed Max. rate Rate
or after before (percent)
------------------------------------------------------------------------
7/1/1994 .............. Weighted average of
rates on the loans
included in the
consolidation, rounded
to nearest whole
percent, but not less
than 9.00%.
7/1/1994 * 11/13/1997 .............. Weighted average of
rates on the loans
included in the
consolidation, rounded
upward to nearest whole
percent.
10/1/1998 7/1/2010 8.25 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 First
Loan type Student grade level disbursed on disbursed Rate
or after before (percent)
----------------------------------------------------------------------------------------------------------------
Subsidized............................. Undergraduate Students.... 7/1/2006 7/1/2008 6.80
Subsidized............................. Undergraduate Students.... 7/1/2008 7/1/2009 6.00
Subsidized............................. Undergraduate Students.... 7/1/2009 7/1/2010 5.60
Subsidized............................. Graduate/Professional 7/1/2006 7/1/2010 6.80
Students.
Unsubsidized........................... All Students.............. 7/1/2006 7/1/2010 6.80
PLUS................................... Parents and Graduate/ 7/1/2006 7/1/2010 8.50
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.
[FR Doc. 2014-18787 Filed 8-7-14; 8:45 am]
BILLING CODE 4000-01-P