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]

Download as PDF 55342 Federal Register / Vol. 80, No. 178 / Tuesday, September 15, 2015 / Notices Affected Public: Individuals or Households, Business or Other ForProfit, Not-For-Profit Institutions, Farms, State, Local, or Tribal Government. Frequency: Annual. Respondent’s Obligation: Voluntary. OMB Desk Officer: Mr. Stuart Levenbach. Comments and recommendations on the proposed information collection should be emailed to Mr. Stuart Levenbach, DoD Desk Officer, at Oira_ submission@omb.eop.gov. Please identify the proposed information collection by DoD Desk Officer and the Docket ID number and title of the information collection. You may also submit comments and recommendations, identified by Docket ID number and title, by the following method: • Federal eRulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. Instructions: All submissions received must include the agency name, Docket ID number and title for this Federal Register document. The general policy for comments and other submissions from members of the public is to make these submissions available for public viewing on the Internet at https:// www.regulations.gov as they are received without change, including any personal identifiers or contact information. DOD Clearance Officer: Mr. Frederick Licari. Written requests for copies of the information collection proposal should be sent to Mr. Licari at WHS/ESD Directives Division, 4800 Mark Center Drive, East Tower, Suite 02G09, Alexandria, VA 22350–3100. Dated: September 9, 2015. Aaron Siegel, Alternate OSD Federal Register Liaison Officer, Department of Defense. [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 19:04 Sep 14, 2015 Jkt 235001 Department of Health and Human Services under subpart I of part A of PO 00000 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 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 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 
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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
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