Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program Prior to July 1, 2013, 46424-46426 [2014-18785]

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

Agencies

[Federal Register Volume 79, Number 153 (Friday, August 8, 2014)]
[Notices]
[Pages 46424-46426]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-18785]


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

DEPARTMENT OF EDUCATION


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

AGENCY: Federal Student Aid, Department of Education.

ACTION: Notice.

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

    Catalog of Federal Domestic Assistance (CFDA) Number: 84.268.

DATES: This notice is effective August 8, 2014.
SUMMARY: In accordance with section 455(b)(9) of the Higher Education 
Act of 1965, as amended, the Chief Operating Officer for Federal 
Student Aid announces the interest rates for the period July 1, 2014, 
through June 30, 2015, for loans made under the William D. Ford Federal 
Direct Loan (Direct Loan) Program prior to July 1, 2013. The Chief 
Operating Officer takes this action to give notice of Direct Loan 
interest rates to the public.

FOR FURTHER INFORMATION CONTACT: Ian Foss, U.S. Department of 
Education, 830 First Street NE., Room 114I1, Washington, DC 20202. 
Telephone: (202) 377-3681 or by email: ian.foss@ed.gov.
    If you use a telecommunications device for the deaf (TDD) or a text 
telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1-
800-877-8339.
    Individuals with disabilities can obtain this document in an 
accessible format (e.g., braille, large print, audiotape, or compact 
disc) on request to the contact person listed under FOR FURTHER 
INFORMATION CONTACT.

SUPPLEMENTARY INFORMATION: Section 455(b) of the Higher Education Act 
of 1965, as amended (HEA) (20 U.S.C. 1087e(b)), provides formulas for 
determining the interest rates charged to borrowers for loans made 
under the Direct Loan Program including: Federal Direct Subsidized 
Stafford Loans (Direct Subsidized Loans); Federal Direct Unsubsidized 
Stafford Loans (Direct Unsubsidized Loans); Federal Direct PLUS Loans 
(Direct PLUS Loans); and Federal Direct Consolidation Loans (Direct 
Consolidation Loans)(collectively, ``Direct Loans.'').
    The Direct Loan Program includes loans with variable interest rates 
and loans with fixed interest rates. Most loans made under the Direct 
Loan Program before July 1, 2006, have variable interest rates that 
change each year. In most cases, the variable interest rate formula 
that applies to a particular loan depends on the date of the first 
disbursement of the loan. The variable rates are determined annually 
and are effective for each 12-month period beginning July 1 of one year 
and ending June 30 of the following year.
    Under section 455(b) of the HEA, Direct Loans first disbursed on or 
after July 1, 2006, have a fixed interest rate.
    In the case of some Direct Consolidation Loans, the interest rate 
is determined by the date on which the Direct Consolidation Loan 
application was received. Direct Consolidation

[[Page 46425]]

Loans for which the application was received on or after February 1, 
1999, have a fixed interest rate. This fixed rate is based on the 
weighted average of the loans that are consolidated, rounded up to the 
nearest higher 1/8 of one percent. Direct Consolidation Loans for which 
the application was received on or after February 1, 1999, and prior to 
July 1, 2013, have a maximum interest rate of 8.25 percent.
    Under section 455(b) of the HEA, the Direct Loan variable interest 
rates are based on formulas that use the bond equivalent rates of the 
91-day Treasury bills auctioned at the final auction held before June 1 
of each year, plus a statutory add-on percentage. These formulas apply 
to: all Direct Subsidized Loans and Direct Unsubsidized Loans; Direct 
Consolidation Loans for which the application was received on or after 
July 1, 1998, and before February 1, 1999; and Direct PLUS Loans 
disbursed on or after July 1, 1998. In each case, the calculated rate 
is capped by a maximum interest rate. The bond equivalent rate of the 
91-day Treasury bills auctioned on May 27, 2014, which is used to 
calculate the interest rates on these loans, is 0.03 percent.
    In addition, under section 455(b)(4) of the HEA, the interest rate 
for Direct PLUS Loans that were first disbursed on or after July 1, 
1994, and before July 1, 1998, is based on the weekly average of the 
one-year constant maturity Treasury yield, as published by the Board of 
Governors of the Federal Reserve System on the last day of the calendar 
week ending on or before June 26 of each year, plus a statutory add-on 
percentage. The calculated rate is capped by a maximum interest rate. 
The weekly average of the one-year constant maturity Treasury yield 
published on June 20, 2014, which is used to calculate the interest 
rate on these loans, is 0.10 percent.
    This notice includes five charts containing specific information on 
the calculation of the interest rates for loans made under the Direct 
Loan Program prior to July 1, 2013. We published a separate notice 
containing the interest rates for Direct Loans made for the current 
award year on July 1, 2014 (See 79 FR 37301).
    Chart 1 contains information on the interest rates for variable-
rate Direct Subsidized and Direct Unsubsidized Loans.
    Chart 2 contains information on the interest rates for variable-
rate Direct PLUS Loans.
    Chart 3 contains information on the interest rates for variable-
rate Direct Subsidized Consolidation Loans and Direct Unsubsidized 
Consolidation Loans.
    Chart 4 contains information on the interest rates for variable-
rate Direct PLUS Consolidation Loans.
    Chart 5 contains information on the interest rates for fixed-rate 
Direct Subsidized, Direct Unsubsidized, and Direct PLUS Loans, and 
Direct Consolidation Loans.

                                         Chart 1--Variable-Rate Direct Subsidized and Direct Unsubsidized Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
                         Cohort                                             Index rate                Margin                        Total rate
---------------------------------------------------------                -------------------------------------------------------------------------------
                                                             Max. rate                      In-school,                      In-school,
                                               First         (percent)     91-Day T-bill      grace,         All other        grace,         All other
       First disbursed on or after           disbursed                    rate (percent)     deferment        periods        deferment        periods
                                              before                                         (percent)       (percent)       (percent)       (percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994................................        7/1/1995            8.25            0.03            3.10            3.10            3.13            3.13
7/1/1995................................        7/1/1998            8.25            0.03            2.50            3.10            2.53            3.13
7/1/1998................................        7/1/2006            8.25            0.03            1.70            2.30            1.73            2.33
--------------------------------------------------------------------------------------------------------------------------------------------------------


                                                        Chart 2--Variable-Rate Direct PLUS Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                 Cohort                                                             Index rate
-------------------------------------------------------------------------                --------------------------------
                                                                                                              1-Year
                                                               First         Max. rate                       constant         Margin        Total Rate
               First disbursed on or after                   disbursed       (percent)     91-Day T-bill     treasury        (percent)       (percent)
                                                              before                      rate (percent)     maturity
                                                                                                             (percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994................................................        7/1/1998            9.00  ..............            0.13            3.10            3.23
7/1/1998................................................        7/1/2006            8.25            0.03  ..............            3.10            3.13
--------------------------------------------------------------------------------------------------------------------------------------------------------

    In Charts 3 through 5, an asterisk following a date in a cohort 
field indicates that the trigger for the rate to apply is an 
application for a Direct Consolidation Loan being received either ``on 
or after'' or ``before'' the date in the cohort field. For example, the 
fourth row in Chart 3 describes the interest rate for Direct Subsidized 
and Unsubsidized Consolidation Loans for which the application was 
received before October 1, 1998, and that were first disbursed on or 
after October 1, 1998.

                                  Chart 3--Variable-Rate Direct Subsidized and Direct Unsubsidized Consolidation Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
                         Cohort                                             Index rate                Margin                        Total rate
---------------------------------------------------------                -------------------------------------------------------------------------------
                                                             Max. rate                      In-school,                      In-school,
                                               First         (percent)     91-Day T-bill      grace,         All other        grace,         All other
       First disbursed on or after           disbursed                    rate (percent)     deferment        periods        deferment        periods
                                              before                                         (percent)       (percent)       (percent)       (percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994................................        7/1/1995            8.25            0.03            3.10            3.10            3.13            3.13
7/1/1995................................        7/1/1998            8.25            0.03            2.50            3.10            2.53            3.13
7/1/1998................................       10/1/1998            8.25            0.03            1.70            2.30            1.73            2.33
10/1/1998...............................     * 10/1/1998            8.25            0.03            1.70            2.30            1.73            2.33

[[Page 46426]]

 
10/1/1998 *.............................      * 2/1/1999            8.25            0.03            2.30            2.30            2.33            2.33
--------------------------------------------------------------------------------------------------------------------------------------------------------


                                                 Chart 4--Variable-Rate Direct PLUS Consolidation Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
                            Cohort                                                 Index rate                  Margin                  Total rate
--------------------------------------------------------------             -----------------------------------------------------------------------------
                                                                                            1-Year
                                                     First      Max. rate    91-Day T-     constant    In-school,   All other    In-school,   All other
           First disbursed on or after             disbursed    (percent)    bill rate     treasury      grace,      periods       grace,      periods
                                                     before                  (percent)     maturity    deferment    (percent)    deferment    (percent)
                                                                                          (percent)    (percent)                 (percent)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994........................................     7/1/1998         9.00  ...........         0.10         3.10         3.10         3.20         3.20
7/1/1998........................................    10/1/1998         9.00         0.03  ...........         3.10         3.10         3.13         3.13
10/1/1998.......................................  * 10/1/1998         9.00         0.03  ...........         3.10         3.10         3.13         3.13
10/1/1998 *.....................................   * 2/1/1999         8.25         0.03  ...........         2.30         2.30         2.33         2.33
--------------------------------------------------------------------------------------------------------------------------------------------------------


  Chart 5--Fixed-Rate Direct Subsidized, Direct Unsubsidized, Direct PLUS Loans, and Direct Consolidation Loans
----------------------------------------------------------------------------------------------------------------
                                                                First           First
             Loan type               Student grade level    disbursed on      disbursed             Rate
                                                              or after         before
----------------------------------------------------------------------------------------------------------------
Subsidized........................  Undergraduates.......        7/1/2006        7/1/2008  6.80%
Subsidized........................  Undergraduates.......        7/1/2008        7/1/2009  6.00%
Subsidized........................  Undergraduates.......        7/1/2009        7/1/2010  5.60%
Subsidized........................  Undergraduates.......        7/1/2010        7/1/2011  4.50%
Subsidized........................  Undergraduates.......        7/1/2011        7/1/2013  3.40%
Subsidized........................  Graduate/Professional        7/1/2006        7/1/2012  6.80%
                                     Students.
Unsubsidized......................  All..................        7/1/2006        7/1/2013  6.80%
PLUS..............................  Parents and Graduate/        7/1/2006        7/1/2013  7.90%
                                     Professionals.
Consolidation.....................  All..................        2/1/1999        7/1/2013  Weighted average of
                                                                                            rates on the loans
                                                                                            included in the
                                                                                            consolidation,
                                                                                            rounded to 1/8 of 1
                                                                                            percent, up to 8.25
                                                                                            percent.
----------------------------------------------------------------------------------------------------------------


    Note:  Interest rates for Direct Loans first disbursed on or 
after July 1, 2013, are published in a separate Federal Register 
notices, as follows:
     For Direct Loans first disbursed on or after July 1, 
2013, and prior to July 1, 2014, see 78 FR 59011.
     For Direct Loans first disbursed on or after July 1, 
2014, and prior to July 1, 2014, see 79 FR 37301.

    Electronic Access to This Document: The official version of this 
document is the document published in the Federal Register. Free 
Internet access to the official edition of the Federal Register and the 
Code of Federal Regulations is available via the Federal Digital System 
at: www.gpo.gov/fdsys. At this site you can view this document, as well 
as all other documents of this Department published in the Federal 
Register, in text or Adobe Portable Document Format (PDF). To use PDF 
you must have Adobe Acrobat Reader, which is available free at the 
site.
    You may also access documents of the Department published in the 
Federal Register by using the article search feature at: 
www.federalregister.gov. Specifically, through the advanced search 
feature at this site, you can limit your search to documents published 
by the Department.

    Program Authority: 20 U.S.C. 1087 et seq.

    Dated: August 5, 2014.
James W. Runcie,
Chief Operating Officer Federal Student Aid.
[FR Doc. 2014-18785 Filed 8-7-14; 8:45 am]
BILLING CODE 4000-01-P