Annual Notice of Interest Rates of Federal Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010, 55342-55344 [2015-23165]
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55342
Federal Register / Vol. 80, No. 178 / Tuesday, September 15, 2015 / Notices
Affected Public: Individuals or
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Dated: September 9, 2015.
Aaron Siegel,
Alternate OSD Federal Register Liaison
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[FR Doc. 2015–23091 Filed 9–14–15; 8:45 am]
BILLING CODE 5001–06–P
DEPARTMENT OF EDUCATION
mstockstill on DSK4VPTVN1PROD with NOTICES
Annual Notice of Interest Rates of
Federal Student Loans Made Under the
Federal Family Education Loan
Program Prior to July 1, 2010
Federal Student Aid,
Department of Education.
ACTION: Notice.
AGENCY:
Catalog of Federal Domestic Assistance
(CFDA) Number: 84.032.
In accordance with section
427A of the Higher Education Act of
SUMMARY:
VerDate Sep<11>2014
19:04 Sep 14, 2015
Jkt 235001
1965, as amended, the Chief Operating
Officer for Federal Student Aid
announces the interest rates for the
period July 1, 2015, through June 30,
2016, for certain loans made under the
Federal Family Education Loan (FFEL)
Program prior to July 1, 2010. The Chief
Operating Officer takes this action to
give notice of FFEL Program loan
interest rates to the public.
DATES: This notice is effective
September 15, 2015.
FOR FURTHER INFORMATION CONTACT: Ian
Foss, U.S. Department of Education, 830
First Street NE., Room 114I1,
Washington, DC 20202. Telephone:
(202) 377–3681 or by email: ian.foss@
ed.gov.
If you use a telecommunications
device for the deaf (TDD) or a text
telephone (TTY), call the Federal Relay
Service (FRS), toll free, at 1–800–877–
8339.
Individuals with disabilities can
obtain this document in an accessible
format (e.g., braille, large print,
audiotape, or compact disc) on request
to the contact person listed under FOR
FURTHER INFORMATION CONTACT.
SUPPLEMENTARY INFORMATION: Section
427A of the Higher Education Act of
1965, as amended (HEA) (20 U.S.C.
1077a), provides formulas for
determining the interest rates charged to
borrowers on loans made under the
Federal Family Education Loan (FFEL)
Program, including Federal Subsidized
and Unsubsidized Stafford Loans,
Federal PLUS Loans, and Federal
Consolidation Loans.
The FFEL Program includes loans
with variable interest rates and loans
with fixed interest rates. Most loans
made under the FFEL Program before
July 1, 2006, have variable interest rates
that change each year. In most cases, the
variable interest rate formula that
applies to a particular loan usually
depends on the date of the first
disbursement of the loan. The variable
rates are determined annually and are
effective for each 12-month period
beginning July 1 of one year and ending
June 30 of the following year.
Under section 427A(k) of the HEA,
FFEL Program loans first disbursed on
or after July 1, 2006, have a fixed
interest rate.
In the case of some Federal
Consolidation Loans, the interest rate is
determined by the date on which the
Federal Consolidation Loan application
was received. Federal Consolidation
Loans for which the application was
received on or after October 1, 1998,
have a fixed interest rate. This fixed rate
is based on the weighted average of the
loans that are consolidated, rounded up
PO 00000
Frm 00021
Fmt 4703
Sfmt 4703
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 26,
2015, which is used to calculate the
interest rates on these loans, is 0.02
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 29, 2015, which is used to
calculate the interest rate on these loans,
is 0.29 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.
Chart 2 contains information on the
interest rates for variable-rate Federal
Subsidized and Unsubsidized Stafford
Loans.
Chart 3 contains information on the
interest rates for variable-rate Federal
PLUS Loans.
Chart 4 contains information on the
interest rates for fixed-rate Federal
Consolidation Loans.
Chart 5 contains information on the
interest rates for fixed-rate Federal
Subsidized and Unsubsidized Stafford
and PLUS Loans.
E:\FR\FM\15SEN1.SGM
15SEN1
55343
Federal Register / Vol. 80, No. 178 / Tuesday, September 15, 2015 / Notices
CHART 1—‘‘CONVERTED’’ VARIABLE-RATE FEDERAL SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS
Cohort
First disbursed
before
Original fixed interest rate
7/1/1988 ..................
7/23/1992 ................
7/23/1992 ................
7/23/1992 ................
7/23/1992 ................
7/23/1992 ................
7/23/1992 ...............
10/1/1992 ...............
7/1/1994 .................
7/1/1994 .................
7/1/1994 .................
7/1/1994 .................
8.00%, increasing to 10.00%
8.00%, increasing to 10.00%
7.00% .....................................
8.00% .....................................
9.00% .....................................
8.00%, increasing to 10.00%
Note: The FFEL Program loans represented
by the second row of the chart were only
made to ‘‘new borrowers’’ on or after July 23,
1992. Whether the FFEL Program loans
represented by the third through sixth rows
of the chart were made to a specific borrower
91-Day
T-Bill rate
(%)
Max. rate
(%)
First disbursed on or
after
10.00
10.00
7.00
8.00
9.00
10.00
Margin
(%)
0.02
0.02
0.02
0.02
0.02
0.02
depends on the interest rate on a borrower’s
existing loans at the time that the borrower
received the loans on or after July 23, 1992
and prior to July 1, 1994.
Total rate
(%)
3.25
3.25
3.10
3.10
3.10
3.10
3.27
3.27
3.12
3.12
3.12
3.12
trigger for the rate to apply is a period
of enrollment for which the loan was
intended either ‘‘ending before’’ or
‘‘beginning on or after’’ the date in the
cohort field.
In Charts 2 and 3, a dagger following
a date in a cohort field indicates that the
CHART 2—VARIABLE-RATE FEDERAL SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS
Cohort
Margin
91-Day
T-Bill rate
(%)
Max. rate
(%)
First disbursed on
or after
First disbursed
before
10/1/1992 ..............
7/1/1994 ................
7/1/1994 ................
7/1/1995 ................
7/1/1998 ................
7/1/1994 ................
7/1/1994 † .............
7/1/1995 ................
7/1/1998 ................
7/1/2006 ................
9.00
9.00
8.25
8.25
8.25
Note: The FFEL Program loans represented
in the first row in Chart 2 were only made
to ‘‘new borrowers’’ on or after October 1,
1992. The FFEL Program loans represented in
the second row in Chart 2 were only made
to ‘‘new borrowers’’ on or after July 1, 1994.
The FFEL Program loans represented in the
third row in Chart 2 must—in addition to
In-school,
grace,
deferment
(%)
0.02
0.02
0.02
0.02
0.02
Total rate
All other
periods
(%)
3.10
3.10
3.10
2.50
1.70
In-school,
grace,
deferment
(%)
3.10
3.10
3.10
3.10
2.30
having been first disbursed on or after July
1, 1994, and before July 1, 1995—have been
made for a period of enrollment that began
on or included July 1, 1994.
In Charts 3 and 4, an asterisk following a
date in a cohort field indicates that the
relevant trigger is an application for a Federal
Consolidation Loan being received either ‘‘on
All other
periods
(%)
3.12
3.12
3.12
2.52
1.72
3.12
3.12
3.12
3.12
2.32
or after’’ or ‘‘before’’ the date in the cohort
field. For example, the sixth row in Chart 3
describes the interest rate for a Federal
Consolidation Loan for which the application
was received on or after November 13, 1997,
but before October 1, 1998.
CHART 3—VARIABLE-RATE FEDERAL PLUS, SLS, AND CONSOLIDATION LOANS
Cohort
Index rate
First disbursed on
or after
............................
10/1/1992 ...........
10/1/1992 ...........
7/1/1994 .............
7/1/1998 .............
11/13/1997* ........
............................
10/1/1992 ...........
7/1/1994 † ...........
7/1/1994 .............
7/1/1998 .............
7/1/2006 .............
10/1/1998* ..........
............................
Max. rate
(%)
91-Day
T-Bill rate
(%)
1-Year
constant
Treasury
maturity
(%)
12.00
11.00
10.00
9.00
9.00
8.25
........................
........................
........................
........................
........................
0.02
0.02
0.02
0.29
0.29
0.29
0.29
........................
........................
........................
First disbursed
before
PLUS and SLS ...
SLS .....................
PLUS ..................
PLUS ..................
PLUS ..................
Consolidation ......
HHS Portion of
Consolidation.
mstockstill on DSK4VPTVN1PROD with NOTICES
Loan type
The last row in Chart 3 refers to
portions of Federal Consolidation Loans
attributable to loans made by the U.S.
VerDate Sep<11>2014
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Department of Health and Human
Services under subpart I of part A of
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Frm 00022
Fmt 4703
Sfmt 4703
Margin
(%)
Total rate
(%)
3.25
3.10
3.10
3.10
3.10
3.10
3.00
title VII of the Public Health Service
Act.
E:\FR\FM\15SEN1.SGM
15SEN1
3.54
3.39
3.39
3.39
3.12
3.12
3.02
55344
Federal Register / Vol. 80, No. 178 / Tuesday, September 15, 2015 / Notices
CHART 4—FIXED-RATE CONSOLIDATION LOANS
First disbursed
before
Max. rate
(%)
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.
First disbursed on or after
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 ................................
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
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Program Authority: 20 U.S.C. 1071 et seq.
Dated: September 10, 2015.
James W. Runcie,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2015–23165 Filed 9–14–15; 8:45 am]
BILLING CODE 4000–01–P
mstockstill on DSK4VPTVN1PROD with NOTICES
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:
VerDate Sep<11>2014
19:04 Sep 14, 2015
Jkt 235001
7/1/2006
7/1/2008
7/1/2009
7/1/2006
7/1/2006
7/1/2006
Catalog of Federal Domestic
Assistance (CFDA) Number: 84.268.
DATES: This notice is effective
September 15, 2015.
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, 2015, through June 30,
2016, 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
PO 00000
Frm 00023
Fmt 4703
Sfmt 4703
First disbursed
before
7/1/2008
7/1/2009
7/1/2010
7/1/2010
7/1/2010
7/1/2010
Rate
(%)
6.80
6.00
5.60
6.80
6.80
8.50
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
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
E:\FR\FM\15SEN1.SGM
15SEN1
]]>Agencies
[Federal Register Volume 80, Number 178 (Tuesday, September 15, 2015)]
[Notices]
[Pages 55342-55344]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-23165]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates of Federal Student Loans Made
Under the Federal Family Education Loan Program Prior to July 1, 2010
AGENCY: Federal Student Aid, Department of Education.
ACTION: Notice.
-----------------------------------------------------------------------
Catalog of Federal Domestic Assistance (CFDA) Number: 84.032.
SUMMARY: In accordance with section 427A of the Higher Education Act of
1965, as amended, the Chief Operating Officer for Federal Student Aid
announces the interest rates for the period July 1, 2015, through June
30, 2016, for certain loans made under the Federal Family Education
Loan (FFEL) Program prior to July 1, 2010. The Chief Operating Officer
takes this action to give notice of FFEL Program loan interest rates to
the public.
DATES: This notice is effective September 15, 2015.
FOR FURTHER INFORMATION CONTACT: Ian Foss, U.S. Department of
Education, 830 First Street NE., Room 114I1, Washington, DC 20202.
Telephone: (202) 377-3681 or by email: ian.foss@ed.gov.
If you use a telecommunications device for the deaf (TDD) or a text
telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1-
800-877-8339.
Individuals with disabilities can obtain this document in an
accessible format (e.g., braille, large print, audiotape, or compact
disc) on request to the contact person listed under FOR FURTHER
INFORMATION CONTACT.
SUPPLEMENTARY INFORMATION: Section 427A of the Higher Education Act of
1965, as amended (HEA) (20 U.S.C. 1077a), provides formulas for
determining the interest rates charged to borrowers on loans made under
the Federal Family Education Loan (FFEL) Program, including Federal
Subsidized and Unsubsidized Stafford Loans, Federal PLUS Loans, and
Federal Consolidation Loans.
The FFEL Program includes loans with variable interest rates and
loans with fixed interest rates. Most loans made under the FFEL Program
before July 1, 2006, have variable interest rates that change each
year. In most cases, the variable interest rate formula that applies to
a particular loan usually depends on the date of the first disbursement
of the loan. The variable rates are determined annually and are
effective for each 12-month period beginning July 1 of one year and
ending June 30 of the following year.
Under section 427A(k) of the HEA, FFEL Program loans first
disbursed on or after July 1, 2006, have a fixed interest rate.
In the case of some Federal Consolidation Loans, the interest rate
is determined by the date on which the Federal Consolidation Loan
application was received. Federal Consolidation Loans for which the
application was received on or after October 1, 1998, have a fixed
interest rate. This fixed rate is based on the weighted average of the
loans that are consolidated, rounded up to the nearest higher 1/8 of
one percent up to a maximum rate of 8.25 percent.
FFEL variable interest rates are based on formulas that use the
bond equivalent rate of the 91-day Treasury bills auctioned at the
final auction held before June 1 of each year plus a statutorily
established add-on. These formulas apply to: All Federal Subsidized and
Unsubsidized Stafford Loans first disbursed before October 1, 1992,
that have been converted to variable rate loans; all Federal Subsidized
and Unsubsidized Stafford Loans first disbursed on or after October 1,
1992, and before July 1, 2006; Federal PLUS Loans first disbursed on or
after July 1, 1998, and before July 1, 2006; and Federal Consolidation
Loans for which the Federal Consolidation Loan application was received
on or after November 13, 1997, and before October 1, 1998. In each
case, the calculated rate is capped by a maximum interest rate. The
bond equivalent rate of the 91-day Treasury bills auctioned on May 26,
2015, which is used to calculate the interest rates on these loans, is
0.02 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 29, 2015, which is used to calculate the interest rate on these
loans, is 0.29 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.
Chart 2 contains information on the interest rates for variable-
rate Federal Subsidized and Unsubsidized Stafford Loans.
Chart 3 contains information on the interest rates for variable-
rate Federal PLUS Loans.
Chart 4 contains information on the interest rates for fixed-rate
Federal Consolidation Loans.
Chart 5 contains information on the interest rates for fixed-rate
Federal Subsidized and Unsubsidized Stafford and PLUS Loans.
[[Page 55343]]
Chart 1--``Converted'' Variable-Rate Federal Subsidized and Unsubsidized Stafford Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort
---------------------------------------------------------------- Original fixed interest Max. rate (%) 91-Day T-Bill Margin (%) Total rate
First disbursed on or after First disbursed before rate rate (%) (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1988............................. 7/23/1992............... 8.00%, increasing to 10.00 0.02 3.25 3.27
10.00%.
7/23/1992............................ 10/1/1992............... 8.00%, increasing to 10.00 0.02 3.25 3.27
10.00%.
7/23/1992............................ 7/1/1994................ 7.00%.................. 7.00 0.02 3.10 3.12
7/23/1992............................ 7/1/1994................ 8.00%.................. 8.00 0.02 3.10 3.12
7/23/1992............................ 7/1/1994................ 9.00%.................. 9.00 0.02 3.10 3.12
7/23/1992............................ 7/1/1994................ 8.00%, increasing to 10.00 0.02 3.10 3.12
10.00%.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Note: The FFEL Program loans represented by the second row of
the chart were only made to ``new borrowers'' on or after July 23,
1992. Whether the FFEL Program loans represented by the third
through sixth rows of the chart were made to a specific borrower
depends on the interest rate on a borrower's existing loans at the
time that the borrower received the loans on or after July 23, 1992
and prior to July 1, 1994.
In Charts 2 and 3, a dagger following a date in a cohort field
indicates that the trigger for the rate to apply is a period of
enrollment for which the loan was intended either ``ending before'' or
``beginning on or after'' the date in the cohort field.
Chart 2--Variable-Rate Federal Subsidized and Unsubsidized Stafford Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Margin Total rate
--------------------------------------------------------- ---------------------------------------------------------------
Max. rate (%) 91-Day T-Bill In-school, In-school,
First disbursed on or after First disbursed rate (%) grace, All other grace, All other
before deferment (%) periods (%) deferment (%) periods (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1992......................... 7/1/1994............ 9.00 0.02 3.10 3.10 3.12 3.12
7/1/1994.......................... 7/1/1994 [dagger]... 9.00 0.02 3.10 3.10 3.12 3.12
7/1/1994.......................... 7/1/1995............ 8.25 0.02 3.10 3.10 3.12 3.12
7/1/1995.......................... 7/1/1998............ 8.25 0.02 2.50 3.10 2.52 3.12
7/1/1998.......................... 7/1/2006............ 8.25 0.02 1.70 2.30 1.72 2.32
--------------------------------------------------------------------------------------------------------------------------------------------------------
Note: The FFEL Program loans represented in the first row in
Chart 2 were only made to ``new borrowers'' on or after October 1,
1992. The FFEL Program loans represented in the second row in Chart
2 were only made to ``new borrowers'' on or after July 1, 1994. The
FFEL Program loans represented in the third row in Chart 2 must--in
addition to having been first disbursed on or after July 1, 1994,
and before July 1, 1995--have been made for a period of enrollment
that began on or included July 1, 1994.
In Charts 3 and 4, an asterisk following a date in a cohort
field indicates that the relevant trigger is an application for a
Federal Consolidation Loan being received either ``on or after'' or
``before'' the date in the cohort field. For example, the sixth row
in Chart 3 describes the interest rate for a Federal Consolidation
Loan for which the application was received on or after November 13,
1997, but before October 1, 1998.
Chart 3--Variable-Rate Federal PLUS, SLS, and Consolidation Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate
---------------------------------------- --------------------------------
1-Year Total rate
Loan type First disbursed on First disbursed Max. rate (%) 91-Day T-Bill constant Margin (%) (%)
or after before rate (%) Treasury
maturity (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
PLUS and SLS.................... .................. 10/1/1992......... 12.00 .............. 0.29 3.25 3.54
SLS............................. 10/1/1992......... 7/1/1994 [dagger]. 11.00 .............. 0.29 3.10 3.39
PLUS............................ 10/1/1992......... 7/1/1994.......... 10.00 .............. 0.29 3.10 3.39
PLUS............................ 7/1/1994.......... 7/1/1998.......... 9.00 .............. 0.29 3.10 3.39
PLUS............................ 7/1/1998.......... 7/1/2006.......... 9.00 0.02 .............. 3.10 3.12
Consolidation................... 11/13/1997*....... 10/1/1998*........ 8.25 0.02 .............. 3.10 3.12
HHS Portion of Consolidation.... .................. .................. .............. 0.02 .............. 3.00 3.02
--------------------------------------------------------------------------------------------------------------------------------------------------------
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.
[[Page 55344]]
Chart 4--Fixed-Rate Consolidation Loans
----------------------------------------------------------------------------------------------------------------
First disbursed on or after First disbursed before Max. rate (%) Rate
----------------------------------------------------------------------------------------------------------------
7/1/1994................. .............. Weighted average of rates on
the loans included in the
consolidation, rounded to
nearest whole percent, but
not less than 9.00%.
7/1/1994.............................. 11/13/1997 *............. .............. Weighted average of rates on
the loans included in the
consolidation, rounded
upward to nearest whole
percent.
10/1/1998............................. 7/1/2010................. 8.25 Weighted average of rates on
the loans included in the
consolidation, rounded to
the nearest higher 1/8 of 1
percent.
----------------------------------------------------------------------------------------------------------------
Chart 5--Fixed-Rate Federal Subsidized and Unsubsidized Stafford and PLUS Loans
----------------------------------------------------------------------------------------------------------------
First disbursed First disbursed
Loan type Student grade level on or after before Rate (%)
----------------------------------------------------------------------------------------------------------------
Subsidized..................... Undergraduate Students 7/1/2006 7/1/2008 6.80
Subsidized..................... Undergraduate Students 7/1/2008 7/1/2009 6.00
Subsidized..................... Undergraduate Students 7/1/2009 7/1/2010 5.60
Subsidized..................... Graduate/Professional 7/1/2006 7/1/2010 6.80
Students.
Unsubsidized................... All Students.......... 7/1/2006 7/1/2010 6.80
PLUS........................... Parents and Graduate/ 7/1/2006 7/1/2010 8.50
Professional Students.
----------------------------------------------------------------------------------------------------------------
Note: No new loans have been made under the FFEL Program since
June 30, 2010.
Electronic Access to This Document: The official version of this
document is the document published in the Federal Register. Free
Internet access to the official edition of the Federal Register and the
Code of Federal Regulations is available via the Federal Digital System
at: www.gpo.gov/fdsys. At this site you can view this document, as well
as all other documents of this Department published in the Federal
Register, in text or Adobe Portable Document Format (PDF). To use PDF
you must have Adobe Acrobat Reader, which is available free at the
site.
You may also access documents of the Department published in the
Federal Register by using the article search feature at:
www.federalregister.gov. Specifically, through the advanced search
feature at this site, you can limit your search to documents published
by the Department.
Program Authority: 20 U.S.C. 1071 et seq.
Dated: September 10, 2015.
James W. Runcie,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2015-23165 Filed 9-14-15; 8:45 am]
BILLING CODE 4000-01-P
