Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program, 5431-5433 [2013-01421]
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5431
Federal Register / Vol. 78, No. 17 / Friday, January 25, 2013 / Notices
available via the Federal Digital System
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Program Authority: 20 U.S.C. 9212.
Dated: January 22, 2013.
Johan Uvin,
Deputy Assistant Secretary for Policy and
Strategic Initiatives.
[FR Doc. 2013–01574 Filed 1–24–13; 8:45 am]
BILLING CODE 4000–01–P
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates of
Federal Student Loans Made Under the
William D. Ford Federal Direct Loan
Program
Federal Student Aid,
Department of Education.
ACTION: Notice.
AGENCY:
Catalog of Federal Domestic Assistance
(CFDA) Number: 84.268.
This notice is effective January
25, 2013.
SUMMARY: In accordance with by 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, 2012, through June 30,
2013, for loans made under the William
D. Ford Federal Direct Loan (Direct
Loan) Program. 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.
DATES:
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).
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
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
up to a maximum 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 29, 2012, which is used to calculate
the interest rates on these loans, is 0.086
percent, which is rounded to 0.09
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 22, 2012, which is used to
calculate the interest rate on these loans,
is 0.19 percent.
This notice includes five charts
containing specific information on the
calculation of the interest rates for loans
made under the Direct Loan Program.
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.
CHART 1—VARIABLE-RATE DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED LOANS
mstockstill on DSK4VPTVN1PROD with
Cohort
First disbursed on or
after
Index rate
First disbursed
before
7/1/1994 .......................
VerDate Mar<15>2010
18:39 Jan 24, 2013
Max. rate
(percent)
7/1/1995
Jkt 229001
8.25
PO 00000
Frm 00025
Margin
In-school,
grace,
deferment
(percent)
91-Day
T-Bill rate
(percent)
0.09
Fmt 4703
Sfmt 4703
Total rate
All other
periods
(percent)
3.10
E:\FR\FM\25JAN1.SGM
3.10
25JAN1
In-school,
grace,
deferment
(percent)
3.19
All other
periods
(percent)
3.19
5432
Federal Register / Vol. 78, No. 17 / Friday, January 25, 2013 / Notices
CHART 1—VARIABLE-RATE DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED LOANS—Continued
Cohort
First disbursed on or
after
Index rate
Max. rate
(percent)
First disbursed
before
7/1/1995 .......................
7/1/1998 .......................
7/1/1998
10/1/2006
Margin
In-school,
grace,
deferment
(percent)
91-Day
T-Bill rate
(percent)
8.25
8.25
0.09
0.09
Total rate
In-school,
grace,
deferment
(percent)
All other
periods
(percent)
2.50
1.70
3.10
2.30
All other
periods
(percent)
2.59
1.79
3.19
2.39
CHART 2 —VARIABLE-RATE DIRECT PLUS LOANS
Cohort
Index rate
Max. rate
(percent)
First disbursed
before
First disbursed on or after
91-Day
T-Bill rate
(percent)
9.00
8.25
1-Year constant treasury
maturity
(percent)
........................
0.09
0.19
........................
7/1/1994 ...................................................
7/1/1998 ...................................................
7/1/1998
10/1/2006
In the remaining 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
Margin
(percent)
Total rate
(percent)
3.10
3.10
3.29
3.19
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
First disbursed on or
after
Index rate
First disbursed
before
7/1/1994 .......................
7/1/1995 .......................
7/1/1998 .......................
10/1/1998 .....................
10/1/1998* ....................
Max. rate
(percent)
7/1/1995
7/1/1998
10/1/1998
10/1/1998*
2/1/1999*
Margin
In-school,
grace,
deferment
(percent)
91-Day
T-Bill rate
(percent)
8.25
8.25
8.25
8.25
8.25
0.09
0.09
0.09
0.09
0.09
Total rate
In-school,
grace,
deferment
(percent)
All other
periods
(percent)
3.10
2.50
1.70
1.70
2.30
3.10
3.10
2.30
2.30
2.30
All other
periods
3.19
2.59
1.79
1.79
2.39
3.19
3.19
2.39
2.39
2.39
CHART 4—VARIABLE-RATE DIRECT PLUS CONSOLIDATION LOANS
Cohort
Index rate
Max. rate
(percent)
First
disbursed
before
First disbursed
on or after
7/1/1994 ...........
7/1/1998 ...........
10/1/1998 .........
10/1/1998* ........
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)
......................
0.09
0.09
0.09
0.19
......................
......................
......................
In-school,
grace,
deferment
(percent)
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)
3.29
3.19
3.19
2.39
CHART 5—FIXED-RATE DIRECT SUBSIDIZED, DIRECT UNSUBSIDIZED, AND DIRECT PLUS LOANS
First disbursed
on or after
mstockstill on DSK4VPTVN1PROD with
Loan type
Student grade level
Subsidized ................
Subsidized ................
Subsidized ................
Subsidized ................
Subsidized ................
Subsidized ................
Unsubsidized ............
PLUS ........................
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
Undergraduate Students ...........................
Undergraduate Students ...........................
Undergraduate Students ...........................
Undergraduate Students ...........................
Undergraduate Students ...........................
Graduate/Professional Students ...............
All Students ...............................................
Parents and Graduate/Professional Students.
VerDate Mar<15>2010
18:39 Jan 24, 2013
Jkt 229001
PO 00000
Frm 00026
Fmt 4703
Sfmt 4703
Rate
6.80
6.00
5.60
4.50
3.40
6.80
6.80
7.90
E:\FR\FM\25JAN1.SGM
25JAN1
All other
periods
(percent)
3.29
3.19
3.19
2.39
5433
Federal Register / Vol. 78, No. 17 / Friday, January 25, 2013 / Notices
CHART 5—FIXED-RATE DIRECT SUBSIDIZED, DIRECT UNSUBSIDIZED, AND DIRECT PLUS LOANS—Continued
First disbursed
on or after
Loan type
Student grade level
Consolidation ...........
2/1/1999
7/1/2013
All ..............................................................
Note: Under the Budget Control Act of
2011 (Pub. L. 112–25) and effective for loan
periods beginning on or after July 1, 2012,
graduate and professional students are no
longer eligible for Direct Subsidized Loans.
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: January 18, 2013.
James W. Runcie,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2013–01421 Filed 1–24–13; 8:45 am]
BILLING CODE 4000–01–P
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates of
Federal Student Loans Made Under the
Federal Family Education Loan
Program
Federal Student Aid,
Department of Education.
ACTION: Notice.
AGENCY:
Catalog of Federal Domestic Assistance
(CFDA) Number: 84.032.
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, 2012, through June 30,
2013, for certain loans made under the
Federal Family Education Loan (FFEL)
Program. The Chief Operating Officer
SUMMARY:
mstockstill on DSK4VPTVN1PROD with
First disbursed
before
VerDate Mar<15>2010
18:39 Jan 24, 2013
Jkt 229001
takes this action to give notice of FFEL
Program loan interest rates to the public.
DATES: This notice is effective January
25, 2013.
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.
Section 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
PO 00000
Frm 00027
Fmt 4703
Sfmt 4703
Rate
Weighted average of rates on the loans
included in the consolidation, rounded
to 1⁄8 of 1 percent, up to 8.25 percent.
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 29,
2012, which is used to calculate the
interest rates on these loans, is 0.086
percent, which is rounded to 0.09
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 22, 2012, which is used to
calculate the interest rate on these loans,
is 0.19 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\25JAN1.SGM
25JAN1
]]>Agencies
[Federal Register Volume 78, Number 17 (Friday, January 25, 2013)]
[Notices]
[Pages 5431-5433]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-01421]
-----------------------------------------------------------------------
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates of Federal Student Loans Made
Under the William D. Ford Federal Direct Loan Program
AGENCY: Federal Student Aid, Department of Education.
ACTION: Notice.
-----------------------------------------------------------------------
Catalog of Federal Domestic Assistance (CFDA) Number: 84.268.
DATES: This notice is effective January 25, 2013.
SUMMARY: In accordance with by 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,
2012, through June 30, 2013, for loans made under the William D. Ford
Federal Direct Loan (Direct Loan) Program. 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).
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 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 up to a maximum 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 29, 2012, which is used to
calculate the interest rates on these loans, is 0.086 percent, which is
rounded to 0.09 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 22, 2012, which is used to calculate the interest
rate on these loans, is 0.19 percent.
This notice includes five charts containing specific information on
the calculation of the interest rates for loans made under the Direct
Loan Program.
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.
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 deferment periods deferment periods
before (percent) (percent) (percent) (percent) (percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994................................ 7/1/1995 8.25 0.09 3.10 3.10 3.19 3.19
[[Page 5432]]
7/1/1995................................ 7/1/1998 8.25 0.09 2.50 3.10 2.59 3.19
7/1/1998................................ 10/1/2006 8.25 0.09 1.70 2.30 1.79 2.39
--------------------------------------------------------------------------------------------------------------------------------------------------------
Chart 2 --Variable-Rate Direct PLUS Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate
------------------------------------------------------------------------- --------------------------------
1-Year
First Max. rate 91-Day T-Bill constant Margin Total rate
First disbursed on or after disbursed (percent) rate treasury (percent) (percent)
before (percent) maturity
(percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994................................................ 7/1/1998 9.00 .............. 0.19 3.10 3.29
7/1/1998................................................ 10/1/2006 8.25 0.09 .............. 3.10 3.19
--------------------------------------------------------------------------------------------------------------------------------------------------------
In the remaining 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 deferment periods deferment periods
before (percent) (percent) (percent) (percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994................................ 7/1/1995 8.25 0.09 3.10 3.10 3.19 3.19
7/1/1995................................ 7/1/1998 8.25 0.09 2.50 3.10 2.59 3.19
7/1/1998................................ 10/1/1998 8.25 0.09 1.70 2.30 1.79 2.39
10/1/1998............................... 10/1/1998* 8.25 0.09 1.70 2.30 1.79 2.39
10/1/1998*.............................. 2/1/1999* 8.25 0.09 2.30 2.30 2.39 2.39
--------------------------------------------------------------------------------------------------------------------------------------------------------
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 ............ 0.19 3.10 3.10 3.29 3.29
7/1/1998................................ 10/1/1998 9.00 0.09 ............ 3.10 3.10 3.19 3.19
10/1/1998............................... 10/1/1998* 9.00 0.09 ............ 3.10 3.10 3.19 3.19
10/1/1998*.............................. 2/1/1999* 8.25 0.09 ............ 2.30 2.30 2.39 2.39
--------------------------------------------------------------------------------------------------------------------------------------------------------
Chart 5--Fixed-Rate Direct Subsidized, Direct Unsubsidized, and Direct PLUS Loans
----------------------------------------------------------------------------------------------------------------
First First
Loan type Student grade level disbursed on disbursed Rate
or after before
----------------------------------------------------------------------------------------------------------------
Subsidized........................ Undergraduate 7/1/2006 7/1/2008 6.80
Students.
Subsidized........................ Undergraduate 7/1/2008 7/1/2009 6.00
Students.
Subsidized........................ Undergraduate 7/1/2009 7/1/2010 5.60
Students.
Subsidized........................ Undergraduate 7/1/2010 7/1/2011 4.50
Students.
Subsidized........................ Undergraduate 7/1/2011 7/1/2013 3.40
Students.
Subsidized........................ Graduate/Professional 7/1/2006 7/1/2012 6.80
Students.
Unsubsidized...................... All Students......... 7/1/2006 7/1/2013 6.80
PLUS.............................. Parents and Graduate/ 7/1/2006 7/1/2013 7.90
Professional
Students.
[[Page 5433]]
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: Under the Budget Control Act of 2011 (Pub. L. 112-25) and
effective for loan periods beginning on or after July 1, 2012,
graduate and professional students are no longer eligible for Direct
Subsidized Loans.
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Program Authority: 20 U.S.C. 1087 et seq.
Dated: January 18, 2013.
James W. Runcie,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2013-01421 Filed 1-24-13; 8:45 am]
BILLING CODE 4000-01-P
