Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program Prior to July 1, 2013, 53431-53433 [2013-21144]

Download as PDF Federal Register / Vol. 78, No. 168 / Thursday, August 29, 2013 / Notices punishments involving the Midshipmen attending the Naval Academy to include but not limited to individual honor/ conduct violations within the Brigade, and personnel issues. The discussion of such information cannot be adequately segregated from other topics, which precludes opening the executive session of this meeting to the public. Accordingly, the Secretary of the Navy has determined in writing that the meeting shall be partially closed to the public because the discussions during the executive session from 11:00 a.m. to 12:00 p.m. will be concerned with matters coming under sections 552b(c) (5), (6), and (7) of title 5, United States Code. Dated: August 23, 2013 L.R. Almand, Office of the Judge Advocate General, U.S. Navy, Alternate Federal Register Liaison Officer. [FR Doc. 2013–21083 Filed 8–28–13; 8:45 am] BILLING CODE 3810–FF–P DEPARTMENT OF EDUCATION [Docket No.: ED–2013–ICCD–0033] Agency Information Collection Activities; Submission to the Office of Management and Budget for Review and Approval; Comment Request; Ronald E. McNair Postbaccalaureate Achievement Program Annual Performance Report Office of Postsecondary Education (OPE), Department of Education (ED). ACTION: Notice. AGENCY: In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 3501 et seq.), ED is proposing a revision of an existing information collection. DATES: Interested persons are invited to submit comments on or before September 30, 2013. ADDRESSES: Comments submitted in response to this notice should be submitted electronically through the Federal eRulemaking Portal at https:// www.regulations.gov by selecting Docket ID number ED–2013–ICCD–0033 or via postal mail, commercial delivery, or hand delivery. Please note that comments submitted by fax or email and those submitted after the comment period will not be accepted. Written requests for information or comments submitted by postal mail or delivery should be addressed to the Director of the Information Collection Clearance Division, U.S. Department of Education, sroberts on DSK5SPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 18:34 Aug 28, 2013 Jkt 229001 400 Maryland Avenue SW., LBJ, Room 2E103, Washington, DC 20202–4537. FOR FURTHER INFORMATION CONTACT: Kate Mullan, 202–401–0563 or electronically mail ICDocketMgr@ed.gov. Please do not send comments here. SUPPLEMENTARY INFORMATION: The Department of Education (ED), in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed, revised, and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the public’s reporting burden. It also helps the public understand the Department’s information collection requirements and provide the requested data in the desired format. ED is soliciting comments on the proposed information collection request (ICR) that is described below. The Department of Education is especially interested in public comment addressing the following issues: (1) Is this collection necessary to the proper functions of the Department; (2) will this information be processed and used in a timely manner; (3) is the estimate of burden accurate; (4) how might the Department enhance the quality, utility, and clarity of the information to be collected; and (5) how might the Department minimize the burden of this collection on the respondents, including through the use of information technology. Please note that written comments received in response to this notice will be considered public records. Title of Collection: Ronald E. McNair Postbaccalaureate Achievement Program Annual Performance Report. OMB Control Number: 1840–0640. Type of Review: Revision of an existing information collection. Respondents/Affected Public: Private Sector, State, Local, or Tribal Governments. Total Estimated Number of Annual Responses: 158. Total Estimated Number of Annual Burden Hours: 1,738. Abstract: Ronald E. McNair Postbaccalaureate Achievement (McNair) Program Annual Performance Report Program grantees must submit the report annually. The reports are used to evaluate grantees’ performance for substantial progress, GPRA, and to award prior experience points at the end of each project (budget) period. The Department also aggregates the data to provide descriptive information on the projects and to analyze the impact of the PO 00000 Frm 00010 Fmt 4703 Sfmt 4703 53431 McNair Program on the academic progress of participating students. Kate Mullan, Acting Director, Information Collection Clearance Division, Privacy, Information and Records Management Services, Office of Management. [FR Doc. 2013–21072 Filed 8–28–13; 8:45 am] BILLING CODE 4000–01–P DEPARTMENT OF EDUCATION [Catalog of Federal Domestic Assistance (CFDA) Number: 84.268] 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: 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, 2013, through June 30, 2014, 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. DATES: This notice is effective August 29, 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 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 SUMMARY: E:\FR\FM\29AUN1.SGM 29AUN1 53432 Federal Register / Vol. 78, No. 168 / Thursday, August 29, 2013 / Notices 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 28, 2013, which is used to calculate the interest rates on these loans, is 0.046 percent, which is rounded to 0.05 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 21, 2013, which is used to calculate the interest rate on these loans, is 0.13 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 publish a separate notice containing the interest rates for Direct Loans made for the current award year. 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 (percent) First disbursed before First disbursed on or after 7/1/1994 ............................................... 7/1/1995 ............................................... 7/1/1998 ............................................... Max. rate (percent) 7/1/1995 7/1/1998 10/1/2006 Margin (percent) 91-Day T-bill rate 8.25 8.25 8.25 In-school, grace, deferment 0.05 0.05 0.05 Total rate (percent) All other periods 3.10 2.50 1.70 In-school, grace, deferment 3.10 3.10 2.30 All other periods 3.15 2.55 1.75 3.15 3.15 2.35 Margin (percent) Total rate (percent) 3.10 3.10 3.23 3.15 CHART 2—VARIABLE-RATE DIRECT PLUS LOANS Cohort Index rate (percent) First disbursed before First disbursed on or after sroberts on DSK5SPTVN1PROD with NOTICES 7/1/1994 ........................................................................... 7/1/1998 ........................................................................... 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 VerDate Mar<15>2010 18:34 Aug 28, 2013 Jkt 229001 7/1/1998 10/1/2006 Max. rate (percent) 9.00 8.25 91-day T-bill rate 1-Year constant treasury maturity ........................ 0.05 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 PO 00000 Frm 00011 Fmt 4703 Sfmt 4703 which the application was received before October 1, 1998, and that were first disbursed on or after October 1, 1998. E:\FR\FM\29AUN1.SGM 29AUN1 53433 Federal Register / Vol. 78, No. 168 / Thursday, August 29, 2013 / Notices CHART 3—VARIABLE-RATE DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED CONSOLIDATION LOANS Cohort Index rate (percent) First disbursed before First disbursed on or after 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 (percent) 91-day T-bill rate (percent) 8.25 8.25 8.25 8.25 8.25 In-school, grace, deferment 0.05 0.05 0.05 0.05 0.05 Total rate (percent) All other periods 3.10 2.50 1.70 1.70 2.30 3.10 3.10 2.30 2.30 2.30 In-school, grace, deferment 3.15 2.55 1.75 1.75 2.35 All other periods 3.15 3.15 2.35 2.35 2.35 CHART 4—VARIABLE-RATE DIRECT PLUS CONSOLIDATION LOANS Cohort Index rate (percent) First disbursed on or after First disbursed before 7/1/1994 ................... 7/1/1998 ................... 10/1/1998 ................. 10/1/1998* ................ Max. rate (percent) 7/1/1998 10/1/1998 * 10/1/1998 * 2/1/1999 Margin (percent) 91-day T-bill rate ........................ 0.05 0.05 0.05 9.00 9.00 9.00 8.25 1-Year constant treasury maturity 0.13 ........................ ........................ ........................ In-school, grace, deferment Total rate (percent) All other periods 3.10 3.10 3.10 2.30 3.10 3.10 3.10 2.30 In-school, grace, deferment 3.23 3.15 3.15 2.35 All other periods 3.23 3.15 3.15 2.35 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 ................................................... sroberts on DSK5SPTVN1PROD with NOTICES Consolidation .................................. 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 VerDate Mar<15>2010 18:34 Aug 28, 2013 Jkt 229001 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. your search to documents published by the Department. Program Authority: 20 U.S.C. 1087 et seq. Dated: August 26, 2013. James F. Manning, Chief of Staff of Federal Student Aid, delegated the authority to perform the functions and duties of the Chief Operating Officer of Federal Student Aid. [FR Doc. 2013–21144 Filed 8–28–13; 8:45 am] BILLING CODE 4000–01–P PO 00000 Rate (percent) DEPARTMENT OF EDUCATION [Catalog of Federal Domestic Assistance (CFDA) Number: 84.032] 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: 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, 2013, through June 30, 2014, for certain loans made under the Federal Family Education Loan (FFEL) SUMMARY: Frm 00012 Fmt 4703 Sfmt 4703 E:\FR\FM\29AUN1.SGM 29AUN1

Agencies

[Federal Register Volume 78, Number 168 (Thursday, August 29, 2013)]
[Notices]
[Pages 53431-53433]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-21144]


-----------------------------------------------------------------------

DEPARTMENT OF EDUCATION

[Catalog of Federal Domestic Assistance (CFDA) Number: 84.268]


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.

-----------------------------------------------------------------------

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, 2013, 
through June 30, 2014, 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.

DATES: This notice is effective August 29, 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 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

[[Page 53432]]

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 28, 2013, which is used to 
calculate the interest rates on these loans, is 0.046 percent, which is 
rounded to 0.05 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 21, 2013, which is used to calculate the interest 
rate on these loans, is 0.13 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 publish a separate notice 
containing the interest rates for Direct Loans made for the current 
award year.
    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 (percent)         Total rate (percent)
------------------------------------------------------------------------               (percent)   -----------------------------------------------------
                                                              First      Max. rate ----------------   In-school,                 In-school,
              First disbursed on or after                   disbursed    (percent)   91-Day T-bill      grace,      All other      grace,      All other
                                                             before                      rate          deferment     periods      deferment     periods
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994...............................................        7/1/1995       8.25            0.05            3.10       3.10            3.15       3.15
7/1/1995...............................................        7/1/1998       8.25            0.05            2.50       3.10            2.55       3.15
7/1/1998...............................................       10/1/2006       8.25            0.05            1.70       2.30            1.75       2.35
--------------------------------------------------------------------------------------------------------------------------------------------------------


                                    Chart 2--Variable-Rate Direct PLUS Loans
----------------------------------------------------------------------------------------------------------------
                     Cohort                                      Index rate (percent)
------------------------------------------------           --------------------------------
                                                 Max. rate                      1-Year        Margin     Total
                                      First      (percent)   91-day T-bill     constant     (percent)     rate
  First disbursed on or after       disbursed                    rate          treasury                (percent)
                                     before                                    maturity
----------------------------------------------------------------------------------------------------------------
7/1/1994.......................        7/1/1998       9.00  ..............            0.13       3.10       3.23
7/1/1998.......................       10/1/2006       8.25            0.05  ..............       3.10       3.15
----------------------------------------------------------------------------------------------------------------

    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.

[[Page 53433]]



                                  Chart 3--Variable-Rate Direct Subsidized and Direct Unsubsidized Consolidation Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                 Cohort                                               Index rate         Margin (percent)         Total rate (percent)
------------------------------------------------------------------------               (percent)   -----------------------------------------------------
                                                              First      Max. rate ----------------   In-school,                 In-school,
              First disbursed on or after                   disbursed    (percent)   91-day T-bill      grace,      All other      grace,      All other
                                                             before                 rate (percent)     deferment     periods      deferment     periods
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994...............................................        7/1/1995       8.25            0.05            3.10       3.10            3.15       3.15
7/1/1995...............................................        7/1/1998       8.25            0.05            2.50       3.10            2.55       3.15
7/1/1998...............................................       10/1/1998       8.25            0.05            1.70       2.30            1.75       2.35
10/1/1998..............................................   \*\ 10/1/1998       8.25            0.05            1.70       2.30            1.75       2.35
10/1/1998\*\...........................................    \*\ 2/1/1999       8.25            0.05            2.30       2.30            2.35       2.35
--------------------------------------------------------------------------------------------------------------------------------------------------------


                                                 Chart 4--Variable-Rate Direct PLUS Consolidation Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
                         Cohort                                          Index rate (percent)            Margin (percent)         Total rate (percent)
--------------------------------------------------------           -------------------------------------------------------------------------------------
                                                         Max. rate                      1-Year
                                              First      (percent)   91-day T-bill     constant       In-school,    All other    In-school,    All other
      First disbursed on or after           disbursed                    rate          treasury         grace,       periods       grace,       periods
                                             before                                    maturity        deferment                  deferment
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994...............................        7/1/1998       9.00  ..............            0.13            3.10       3.10            3.23       3.23
7/1/1998...............................       10/1/1998       9.00            0.05  ..............            3.10       3.10            3.15       3.15
10/1/1998..............................   \*\ 10/1/1998       9.00            0.05  ..............            3.10       3.10            3.15       3.15
10/1/1998\*\...........................    \*\ 2/1/1999       8.25            0.05  ..............            2.30       2.30            2.35       2.35
--------------------------------------------------------------------------------------------------------------------------------------------------------


  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 (percent)
                                                              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.
----------------------------------------------------------------------------------------------------------------

    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 26, 2013.
James F. Manning,
Chief of Staff of Federal Student Aid, delegated the authority to 
perform the functions and duties of the Chief Operating Officer of 
Federal Student Aid.
[FR Doc. 2013-21144 Filed 8-28-13; 8:45 am]
BILLING CODE 4000-01-P