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]

Download as PDF 46422 Federal Register / Vol. 79, No. 153 / Friday, August 8, 2014 / Notices or statements should be submitted to Colonel Jeffrey R. Eckstein, DFO, via electronic mail, the preferred mode of submission, at the address listed in the mstockstill on DSK4VPTVN1PROD with NOTICES FOR FURTHER INFORMATION CONTACT section above. Each page of the comment or statement must include the author’s name, title or affiliation, address, and daytime phone number. The DFO will review all submitted written comments or statements and provide them to members of the Board for their consideration. Written comments or statements being submitted in response to the agenda set forth in this notice must be received by the DFO at least five business days prior to the meeting to be considered by the Board. The DFO will review all timely submitted written comments or statements with the Board Chairperson and ensure the comments are provided to all members of the Board before the meeting. Written comments or statements received after this date may not be provided to the Board until its next meeting. Verbal Comments: Pursuant to 41 CFR 102–3.140d, the Board is not obligated to allow a member of the public to speak or otherwise address the Board during the meeting. Members of the public will be permitted to make verbal comments during the Board meeting only at the time and in the manner described below. If a member of the public is interested in making a verbal comment at the open meeting, that individual must submit a request, with a brief statement of the subject matter to be addressed by the comment, at least five business days in advance to the Board’s DFO, via electronic mail, the preferred mode of submission, at the address listed in the FOR FURTHER INFORMATION CONTACT section. The DFO will log each request, in the order received, and in consultation with the Board Chair, determine whether the subject matter of each comment is relevant to the Board’s mission and/or the topics to be addressed in this public meeting. A 30minute period near the end of the meeting will be available for verbal public comments. Members of the public who have requested to make a verbal comment, and whose comments have been deemed relevant under the process described above, will be allotted no more than five minutes during this period, and will be invited to speak in the order in which their requests were 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 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 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. PO 00000 Frm 00028 Fmt 4703 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. E:\FR\FM\08AUN1.SGM 08AUN1 46423 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 VerDate Mar<15>2010 16:51 Aug 07, 2014 Jkt 232001 PO 00000 Frm 00029 Fmt 4703 Sfmt 4703 E:\FR\FM\08AUN1.SGM 08AUN1 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 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

Agencies

DEPARTMENT OF EDUCATION

[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

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.