Annual Notice of Variable Interest Rates of Federal Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010, 68000-68002 [2016-23766]
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68000
Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices
provided to the membership for their
consideration.
Dated: September 28, 2016.
Aaron Siegel,
Alternate OSD Federal Register Liaison
Officer, Department of Defense.
[FR Doc. 2016–23822 Filed 9–30–16; 8:45 am]
BILLING CODE 5001–06–P
DEPARTMENT OF EDUCATION
Annual Notice of Variable 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
1965, as amended, (HEA), 20 U.S.C.
1077a, the Chief Operating Officer for
Federal Student Aid announces the
variable interest rates for the period July
1, 2016, through June 30, 2017, for
certain loans made under the Federal
Family Education Loan (FFEL) Program.
The Chief Operating Officer takes this
action to give notice of FFEL Program
loan variable interest rates to the public.
DATES: This notice is effective October
3, 2016.
FOR FURTHER INFORMATION CONTACT:
Rene Tiongquico, U.S. Department of
Education, 830 First Street NE., 11th
Floor, Washington, DC 20202.
Telephone: (202) 377–4270 or by email:
Rene.Tiongquico@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.
SUMMARY:
Section
427A of the HEA, 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 depends on
the date of the first disbursement of the
loan. The variable rates are determined
annually and are effective for each 12month period beginning July 1 of one
year and ending June 30 of the following
year.
Under section 427A(l) of the HEA,
FFEL Program loans first disbursed on
or after July 1, 2006, and before July 1,
2010, have a fixed interest rate. The
Chief Operating Officer is discontinuing
providing the fixed interest rates for
FFEL Program loans first disbursed on
or after July 1, 2006 and before July 1,
2010. Interest rates for these loans may
be found in a Federal Register notice
published on September 15, 2015 (80 FR
55342).
Federal Consolidation Loans made
prior to November 13, 1997, and on or
after October 1, 1998, have a fixed
interest rate that is based on the
weighted average of the loans that are
consolidated.
Interest rates for Federal
Consolidation Loans made between
November 13, 1997 and September 30,
1998 are provided in Chart 3.
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
SUPPLEMENTARY INFORMATION:
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 31,
2016, which is used to calculate the
interest rates on these loans, is 0.345
rounded up to 0.35 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 27, 2016, which is used to
calculate the interest rate on these loans,
is 0.55 percent.
This notice includes three charts
containing specific information on the
calculation of variable 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, certain Federal
Consolidation Loans, and Consolidation
Loans that include 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 1—‘‘CONVERTED’’ VARIABLE-RATE FEDERAL SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS INTEREST RATES
IN EFFECT FOR THE PERIOD 7/1/2016 THROUGH 6/30/2017
sradovich on DSK3GMQ082PROD with NOTICES
Cohort
First disbursed on
or after
7/1/1988 ...............
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
VerDate Sep<11>2014
17:56 Sep 30, 2016
Max. rate
(%)
Original fixed interest rate
First disbursed
before
8.00%, increasing to 10.00% ............
8.00%, increasing to 10.00% ............
7.00% .................................................
8.00% .................................................
9.00% .................................................
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PO 00000
Frm 00045
Fmt 4703
Sfmt 4703
91-Day T-bill
rate
(%)
10.00
10.00
7.00
8.00
9.00
E:\FR\FM\03OCN1.SGM
0.35
0.35
0.35
0.35
0.35
03OCN1
Margin
(%)
3.25
3.25
3.10
3.10
3.10
Total rate
(%)
3.60
3.60
3.45
3.45
3.45
68001
Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices
CHART 1—‘‘CONVERTED’’ VARIABLE-RATE FEDERAL SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS INTEREST RATES
IN EFFECT FOR THE PERIOD 7/1/2016 THROUGH 6/30/2017—Continued
Cohort
First disbursed on
or after
7/23/1992 .............
7/1/1994
91-Day T-bill
rate
(%)
Max. rate
(%)
Original fixed interest rate
First disbursed
before
8.00%, increasing to 10.00% ............
10.00
0.35
Margin
(%)
Total rate
(%)
3.10
3.45
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 the borrower’s existing loans (see the ‘Original Fixed Interest Rate’ column in Chart 1) at the time the borrower received the
loan(s) 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 INTEREST RATES IN EFFECT FOR
THE PERIOD 7/1/2016 THROUGH 6/30/2017
Cohort
First disbursed on or
after
Margin
Max. rate
(%)
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
91-Day T-bill
rate
(%)
9.00
9.00
8.25
8.25
8.25
In-school,
grace,
deferment
(%)
0.35
0.35
0.35
0.35
0.35
Total rate
All other
periods
(%)
3.10
3.10
3.10
2.50
1.70
3.10
3.10
3.10
3.10
2.30
In-school,
grace,
deferment
(%)
3.45
3.45
3.45
2.85
2.05
All other
periods
(%)
3.45
3.45
3.45
3.45
2.65
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.
CHART 3—VARIABLE-RATE FEDERAL PLUS, SLS, AND CONSOLIDATION LOANS INTEREST RATES IN EFFECT FOR THE
PERIOD 7/1/2016 THROUGH 6/30/2017
Cohort
Loan type
First
disbursed
on or after
PLUS and SLS .............
SLS ..............................
PLUS ............................
PLUS ............................
PLUS ............................
........................
10/1/1992
10/1/1992
7/1/1994
7/1/1998
Loan type
sradovich on DSK3GMQ082PROD with NOTICES
Consolidation ...............
HHS Portion of Consolidation ........................
Application
received on
or after
Max. rate
(%)
First
disbursed
before
10/1/1992
† 7/1/1994
7/1/1994
7/1/1998
7/1/2006
91-Day
T-bill rate
(%)
Max. rate
(%)
1-Year
constant
treasury
maturity
........................
........................
........................
........................
0.35
0.55
0.55
0.55
0.55
........................
91-Day T-bill
rate
(%)
12.00
11.00
10.00
9.00
9.00
Application
received
before
Average of
the bond
equivalent
rates of
the 91-Day
T-bill for the
quarter prior to
July 1
Margin
(%)
3.25
3.10
3.10
3.10
3.10
Margin
(%)
Total rate
(%)
3.80
3.65
3.65
3.65
3.45
Total rate
(%)
11/13/1997
10/1/1998
8.25
0.35
........................
3.10
3.45
11/13/1997
........................
........................
........................
0.27
3.00
3.27
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
VerDate Sep<11>2014
Index rate
17:56 Sep 30, 2016
Jkt 241001
title VII of the Public Health Service
Act.
Note: No new loans have been made
under the FFEL Program since June 30,
2010.
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Fmt 4703
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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
E:\FR\FM\03OCN1.SGM
03OCN1
68002
Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices
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
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Specifically, through the advanced
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Program Authority: 20 U.S.C. 1071 et seq.
Dated: September 27, 2016.
James W. Runcie,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2016–23766 Filed 9–30–16; 8:45 am]
BILLING CODE 4000–01–P
DEPARTMENT OF EDUCATION
[Docket No.: ED–2016–ICCD–0103]
Agency Information Collection
Activities; Submission to the Office of
Management and Budget for Review
and Approval; Comment Request;
Designation as an Eligible Institution
Under the Title III and Title V Programs
and To Request a Waiver of the NonFederal Cost Share Reimbursement
(1894–0001)
Office of Postsecondary
Education (OPE), Department of
Education (ED).
ACTION: Notice.
AGENCY:
In accordance with the
Paperwork Reduction Act of 1995 (44
U.S.C. chapter 3501 et seq.), ED is
proposing an extension of an existing
information collection.
DATES: Interested persons are invited to
submit comments on or before
November 2, 2016.
ADDRESSES: To access and review all the
documents related to the information
collection listed in this notice, please
use https://www.regulations.gov by
searching the Docket ID number ED–
2016–ICCD–0103. Comments submitted
in response to this notice should be
submitted electronically through the
Federal eRulemaking Portal at https://
www.regulations.gov by selecting the
Docket ID number or via postal mail,
commercial delivery, or hand delivery.
Please note that comments submitted by
fax or email and those submitted after
the comment period will not be
sradovich on DSK3GMQ082PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
17:56 Sep 30, 2016
Jkt 241001
accepted. Written requests for
information or comments submitted by
postal mail or delivery should be
addressed to the Director of the
Information Collection Clearance
Division, U.S. Department of Education,
400 Maryland Avenue SW., LBJ, Room
2E–347, Washington, DC 20202–4537.
FOR FURTHER INFORMATION CONTACT: For
specific questions related to collection
activities, please contact Jason Cottrell,
202–453–7530.
SUPPLEMENTARY INFORMATION: The
Department of Education (ED), in
accordance with the Paperwork
Reduction Act of 1995 (PRA) (44 U.S.C.
3506(c)(2)(A)), provides the general
public and Federal agencies with an
opportunity to comment on proposed,
revised, and continuing collections of
information. This helps the Department
assess the impact of its information
collection requirements and minimize
the public’s reporting burden. It also
helps the public understand the
Department’s information collection
requirements and provide the requested
data in the desired format. ED is
soliciting comments on the proposed
information collection request (ICR) that
is described below. The Department of
Education is especially interested in
public comment addressing the
following issues: (1) Is this collection
necessary to the proper functions of the
Department; (2) will this information be
processed and used in a timely manner;
(3) is the estimate of burden accurate;
(4) how might the Department enhance
the quality, utility, and clarity of the
information to be collected; and (5) how
might the Department minimize the
burden of this collection on the
respondents, including through the use
of information technology. Please note
that written comments received in
response to this notice will be
considered public records.
Title of Collection: Designation As An
Eligible Institution Under the Title III
and Title V Programs and to Request A
Waiver of the Non-Federal Cost Share
Reimbursement (1894–0001).
OMB Control Number: 1840–0103.
Type of Review: An extension of an
existing information collection.
Respondents/Affected Public: State,
Local, and Tribal Governments; Private
Sector.
Total Estimated Number of Annual
Responses: 250.
Total Estimated Number of Annual
Burden Hours: 1,750.
Abstract: This collection of
information is necessary in order for the
Secretary of Education to designate an
institution of higher education eligible
PO 00000
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Fmt 4703
Sfmt 4703
to apply for funding under Title III, Part
A and Title V of the Higher Education
Act of 1965, as amended. An institution
must apply to the Secretary to be
designated as an eligible institution. The
programs authorized include the
Strengthening Institutions, Alaskan
Native and Native Hawaiian-Serving
Institutions, Asian-American and Native
American Pacific Islander-Serving
Institutions, Native American Serving
Institutions, Hispanic-Serving
Institutions, Hispanic-Serving
Institutions (Science, Technology,
Engineering and Math and Articulation),
Promoting Postbaccalaureate
Opportunities for Hispanic Americans,
and Predominantly Black Institutions
Programs. These programs award
discretionary grants to eligible
institutions of higher education so that
they might increase their selfsufficiency by improving academic
programs, institutional management and
fiscal stability.
This collection of information is
gathered electronically by the
Department for the purpose of
determining an institution’s eligibility
to participate in the Title III and Title
V programs based on its enrollment of
needy students and low average
educational and general (E&G)
expenditures per full-time equivalent
undergraduate student. This collection
also allows an institution to request a
waiver of certain non-Federal cost-share
requirements under Federal Work-Study
Program, Federal Supplemental
Educational Opportunity Grant, Student
Support Services Program and the
Undergraduate International Studies
and Foreign Language Program.
The collection is paired with a
computational exercise that results in
the simultaneous publication of an
Eligibility Matrix, a listing of
postsecondary institutions potentially
eligible to apply for grants in the
Institutional Service grant programs.
Criteria derived from applicable
legislation and regulations are applied
to enrollment and financial data from
Department sources to determine the
eligibility of each institution for each
program. Only those institutions that
either do not meet the financial criteria
or do not appear in the eligibility matrix
need to go through the application
process.
The results of the application process
are a determination of eligibility for
grant application and waiver, and
updated information on institutional
eligibility which is added to the EM.
E:\FR\FM\03OCN1.SGM
03OCN1
]]>Agencies
[Federal Register Volume 81, Number 191 (Monday, October 3, 2016)]
[Notices]
[Pages 68000-68002]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-23766]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF EDUCATION
Annual Notice of Variable 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, (HEA), 20 U.S.C. 1077a, the Chief Operating Officer
for Federal Student Aid announces the variable interest rates for the
period July 1, 2016, through June 30, 2017, for certain loans made
under the Federal Family Education Loan (FFEL) Program. The Chief
Operating Officer takes this action to give notice of FFEL Program loan
variable interest rates to the public.
DATES: This notice is effective October 3, 2016.
FOR FURTHER INFORMATION CONTACT: Rene Tiongquico, U.S. Department of
Education, 830 First Street NE., 11th Floor, Washington, DC 20202.
Telephone: (202) 377-4270 or by email: Rene.Tiongquico@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 HEA, 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 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(l) of the HEA, FFEL Program loans first
disbursed on or after July 1, 2006, and before July 1, 2010, have a
fixed interest rate. The Chief Operating Officer is discontinuing
providing the fixed interest rates for FFEL Program loans first
disbursed on or after July 1, 2006 and before July 1, 2010. Interest
rates for these loans may be found in a Federal Register notice
published on September 15, 2015 (80 FR 55342).
Federal Consolidation Loans made prior to November 13, 1997, and on
or after October 1, 1998, have a fixed interest rate that is based on
the weighted average of the loans that are consolidated.
Interest rates for Federal Consolidation Loans made between
November 13, 1997 and September 30, 1998 are provided in Chart 3.
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 31,
2016, which is used to calculate the interest rates on these loans, is
0.345 rounded up to 0.35 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 27, 2016, which is used to calculate the interest rate on these
loans, is 0.55 percent.
This notice includes three charts containing specific information
on the calculation of variable 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, certain Federal Consolidation Loans, and
Consolidation Loans that include 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 1--``Converted'' Variable-Rate Federal Subsidized and Unsubsidized Stafford Loans Interest Rates in Effect for the Period 7/1/2016 Through 6/30/
2017
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort
--------------------------------------------------------
First Original fixed interest rate Max. rate (%) 91-Day T-bill Margin (%) Total rate (%)
First disbursed on or after disbursed rate (%)
before
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1988............................... 7/23/1992 8.00%, increasing to 10.00%.... 10.00 0.35 3.25 3.60
7/23/1992.............................. 10/1/1992 8.00%, increasing to 10.00%.... 10.00 0.35 3.25 3.60
7/23/1992.............................. 7/1/1994 7.00%.......................... 7.00 0.35 3.10 3.45
7/23/1992.............................. 7/1/1994 8.00%.......................... 8.00 0.35 3.10 3.45
7/23/1992.............................. 7/1/1994 9.00%.......................... 9.00 0.35 3.10 3.45
[[Page 68001]]
7/23/1992.............................. 7/1/1994 8.00%, increasing to 10.00%.... 10.00 0.35 3.10 3.45
--------------------------------------------------------------------------------------------------------------------------------------------------------
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 the borrower's
existing loans (see the `Original Fixed Interest Rate' column in Chart 1) at the time the borrower received the loan(s) 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 Interest Rates in Effect for the Period 7/1/2016 Through 6/30/2017
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Margin Total rate
--------------------------------------------------------- ---------------------------------------------------------------
First Max. rate (%) 91-Day T-bill In-school, In-school,
First disbursed on or after disbursed rate (%) grace, All other grace, All other
before deferment (%) periods (%) deferment (%) periods (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1992............................... 7/1/1994 9.00 0.35 3.10 3.10 3.45 3.45
7/1/1994................................ 7/1/1994 9.00 0.35 3.10 3.10 3.45 3.45
[dagger]
7/1/1994................................ 7/1/1995 8.25 0.35 3.10 3.10 3.45 3.45
7/1/1995................................ 7/1/1998 8.25 0.35 2.50 3.10 2.85 3.45
7/1/1998................................ 7/1/2006 8.25 0.35 1.70 2.30 2.05 2.65
--------------------------------------------------------------------------------------------------------------------------------------------------------
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.
Chart 3--Variable-Rate Federal PLUS, SLS, and Consolidation Loans Interest Rates in Effect for the Period 7/1/2016 Through 6/30/2017
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate
-------------------------------- --------------------------------
1-Year
Loan type First First Max. rate (%) 91-Day T-bill constant Margin (%) Total rate (%)
disbursed on disbursed rate (%) treasury
or after before maturity
--------------------------------------------------------------------------------------------------------------------------------------------------------
PLUS and SLS............................ .............. 10/1/1992 12.00 .............. 0.55 3.25 3.80
SLS..................................... 10/1/1992 [dagger] 7/1/ 11.00 .............. 0.55 3.10 3.65
1994
PLUS.................................... 10/1/1992 7/1/1994 10.00 .............. 0.55 3.10 3.65
PLUS.................................... 7/1/1994 7/1/1998 9.00 .............. 0.55 3.10 3.65
PLUS.................................... 7/1/1998 7/1/2006 9.00 0.35 .............. 3.10 3.45
--------------------------------------------------------------------------------------------------------------------------------------------------------
Average of the
bond
equivalent
Application Application 91-Day T-bill rates of the
Loan type received on or received Max. rate (%) rate (%) 91-Day T-bill Margin (%) Total rate (%)
after before for the
quarter prior
to July 1
--------------------------------------------------------------------------------------------------------------------------------------------------------
Consolidation........................... 11/13/1997 10/1/1998 8.25 0.35 .............. 3.10 3.45
HHS Portion of Consolidation............ 11/13/1997 .............. .............. .............. 0.27 3.00 3.27
--------------------------------------------------------------------------------------------------------------------------------------------------------
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.
Note: No new loans have been made under the FFEL Program since June
30, 2010.
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Code of Federal Regulations is
[[Page 68002]]
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by the Department.
Program Authority: 20 U.S.C. 1071 et seq.
Dated: September 27, 2016.
James W. Runcie,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2016-23766 Filed 9-30-16; 8:45 am]
BILLING CODE 4000-01-P
