Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program On or After July 1, 2013, 29062-29063 [2017-13432]

Download as PDF 29062 Federal Register / Vol. 82, No. 122 / Tuesday, June 27, 2017 / Notices TABLE B—PELL GRANT, IRAQ AND AFGHANISTAN SERVICE GRANT, DIRECT LOAN, AND TEACH GRANT PROGRAMS DEADLINE DATES FOR DISBURSEMENT INFORMATION BY INSTITUTIONS FOR THE 2017–2018 AWARD YEAR OR PROCESSING YEAR 1—Continued Which program? Under what circumstances is it submitted? What is submitted? Where is it submitted? (c) Disbursements previously blocked as a result of another institution failing to post a downward adjustment.. Pell Grant and Iraq and Afghanistan Service Grant programs. An origination or disbursement record. Pell Grant and Iraq and Afghanistan Service Grant programs. An origination or disbursement record. Via the COD Web site at: www.cod.ed.gov. It is after the deadline submission date and the institution has received approval of its request for an extension to the deadline submission date based on a natural disaster, other unusual circumstances, or an administrative error made by the Department. It is after the deadline submission date and the institution has received approval of its request for administrative relief to extend the deadline submission date based on a student’s reentry to the institution within 180 days after initially withdrawing.3 Via the COD Web site at: www.cod.ed.gov. Via the COD Web site at: www.cod.ed.gov. What are the deadlines for disbursement and for submission of records and information? The earlier of: (a) When the institution is fully reconciled and is ready to submit all additional data for the program and the award year; or (b) September 29, 2023. When the institution is fully reconciled and is ready to submit all additional data for the program and the award year. The earlier of: (a) A date designated by the Secretary after consultation with the institution; or (b) February 1, 2019. The earlier of: (a) 15 days after the student reenrolls; or (b) May 3, 2019. 1 A COD Processing Year is a period of time in which institutions are permitted to submit Direct Loan records to the COD System that are related to a given award year. For a Direct Loan, the period of time includes loans that have a loan period covering any day in the 2017–2018 award year. 2 Transmissions must be completed and accepted before the designated processing time on the deadline submission date. The designated processing time is published annually via an electronic announcement posted to the Information for Financial Aid Professionals website (www.ifap.ed.gov). If transmissions are started at the designated time, but are not completed until after the designated time, those transmissions will not meet the deadline. In addition, any transmission submitted on or just prior to the deadline date that is rejected may not be reprocessed because the deadline will have passed by the time the user gets the information notifying him or her of the rejection. 3 Applies only to students enrolled in clock-hour and nonterm credit-hour educational programs. NOTE: The COD System must accept origination data for a student from an institution before it accepts disbursement information from the institution for that student. Institutions may submit origination and disbursement data for a student in the same transmission. However, if the origination data is rejected, the disbursement data is rejected. [FR Doc. 2017–13436 Filed 6–26–17; 8:45 am] BILLING CODE 4000–01–P DEPARTMENT OF EDUCATION Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program On or After July 1, 2013 Federal Student Aid, Department of Education. mstockstill on DSK30JT082PROD with NOTICES AGENCY: ACTION: Notice. The Acting Chief Operating Officer for Federal Student Aid announces the interest rates for loans made under the William D. Ford Federal Direct Loan (Direct Loan) Program on or after July 1, 2017, but before July 1, SUMMARY: VerDate Sep<11>2014 18:33 Jun 26, 2017 Jkt 241001 2018. Catalog of Federal Domestic Assistance (CFDA) Number: 84.268. DATES: This notice is effective June 27, 2017. 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. 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 PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 Direct Loan Program including: Federal Direct Subsidized Stafford Loans (Direct Subsidized Loans); Federal Direct Unsubsidized Stafford Loans (Direct Unsubsidized Loans); Federal Direct PLUS Loans (Direct PLUS Loans); and Federal Direct Consolidation Loans (Direct Consolidation Loans). Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans (collectively, Direct Loans) first disbursed on or after July 1, 2013, have a fixed interest rate that is calculated based on the high yield of the 10-year Treasury notes auctioned at the final auction held before June 1 of each year, plus a statutory add-on percentage (a ‘‘margin’’). While the interest rate determination for new loans will be different from year to year, each of these loans will have a fixed interest rate for E:\FR\FM\27JNN1.SGM 27JNN1 29063 Federal Register / Vol. 82, No. 122 / Tuesday, June 27, 2017 / Notices the life of the loan. In each case the calculated rate is capped at a maximum interest rate. On Wednesday, May 10, 2017, the United States Treasury Department held a 10-year Treasury note auction that resulted in a high yield of 2.400%. The following chart contains specific information on the calculation of the interest rates for Direct Loans first disbursed on or after July 1, 2017, but before July 1, 2018. We will publish a separate notice containing the interest rates for Direct Loans that were made in prior years. FIXED-RATE DIRECT SUBSIDIZED LOANS, DIRECT UNSUBSIDIZED LOANS, AND DIRECT PLUS LOANS FIRST DISBURSED ON OR AFTER 7/1/2017 BUT BEFORE 7/1/2018 Cohort Student grade level Subsidized .................... Unsubsidized ................ Unsubsidized ................ PLUS ............................ PLUS ............................ mstockstill on DSK30JT082PROD with NOTICES Loan type Undergraduates ..................................... Undergraduates ..................................... Graduate and Professional Students .... Parents of Dependent Undergraduates Graduate and Professional Students .... For an application for a Direct Consolidation Loan that was received by the Department on or after July 1, 2013, the interest rate on that loan is the weighted average of the loans being consolidated, rounded to the nearest higher 1⁄8 of 1 percent. These Direct Consolidation Loans do not have an interest rate cap. Accessible Format: Individuals with disabilities can obtain this document in an accessible format (e.g., braille, large print, audiotape, or compact disc) by contacting the person listed under FOR FURTHER INFORMATION CONTACT. Electronic Access to This Document: The official version of this document is the document published in the Federal Register. Free Internet access to the official edition of the Federal Register and the Code of Federal Regulations is available via the Federal Digital System at www.gpo.gov/fdsys. At this site you can view this document, as well as all other documents of this Department published in the Federal Register, in text or Adobe Portable Document Format (PDF). To use PDF you must have Adobe Acrobat Reader, which is available free at the site. You may also access documents of the Department published in the Federal Register by using the article search feature at www.federalregister.gov. Specifically, through the advanced search feature at this site, you can limit your search to documents published by the Department. Program Authority: 20 U.S.C. 1087, et seq. First disbursed on/after 7/1/2017 7/1/2017 7/1/2017 7/1/2017 7/1/2017 Index rate First disbursed before 7/1/2018 7/1/2018 7/1/2018 7/1/2018 7/1/2018 [Docket No. PP–371] Informational Notice Regarding Public Notification Procedures for the Northern Pass Transmission Line Project Department of Energy. Notice of changes to the public notification procedures for consultation under the National Historic Preservation Act for the Northern Pass Transmission Line Project. AGENCY: ACTION: [FR Doc. 2017–13432 Filed 6–26–17; 8:45 am] The U.S. Department of Energy (DOE) is notifying the public of changes to the public notification procedures for consultation under the National Historic Preservation Act for the Northern Pass Transmission Line Project, including implementation of the Programmatic Agreement developed for the Project. DATES: DOE is changing the public notification procedures for consultation under the National Historic Preservation Act for the Northern Pass Transmission Line Project effective June 14, 2017. ADDRESSES: Requests for information about the proposed project and DOE’s Section 106 review should be addressed to: Brian Mills, Office of Electricity Delivery and Energy Reliability (OE–20), U.S. Department of Energy, 1000 Independence Avenue SW., Washington, DC 20585; or by email to Brian.Mills@hq.doe.gov. FOR FURTHER INFORMATION CONTACT: For information on DOE’s review of the Presidential permit application, contact Brian Mills by one of the methods listed in ADDRESSES above, or at 202–586– 8267. BILLING CODE 4000–01–P SUPPLEMENTARY INFORMATION: Dated: June 22, 2017. Matthew D. Sessa, Acting Chief Operating Officer, Federal Student Aid. VerDate Sep<11>2014 18:33 Jun 26, 2017 Jkt 241001 PO 00000 Frm 00042 Fmt 4703 Sfmt 4703 Margin (%) 2.400 2.400 2.400 2.400 2.400 2.05 2.05 3.60 4.60 4.60 Fixed rate (%) Max. rate (%) 4.45 4.45 6.00 7.00 7.00 8.25 8.25 9.50 10.50 10.50 Background DEPARTMENT OF ENERGY SUMMARY: 10-Year treasury note (%) Executive Order (E.O.) 10485, as amended by E.O. 12038, requires that before an electric transmission facility may be constructed, operated, maintained, or connected at the U.S. international border, a Presidential permit must be issued by DOE. E.O. 10485 provides that DOE may issue a Presidential permit upon finding issuance of the permit to be consistent with the public interest and after obtaining favorable recommendations from the U.S. Departments of State and Defense. In determining whether issuance of a Presidential permit would be consistent with the public interest, DOE takes into account the potential effects of the issuance of a Presidential permit for the proposed project’s international border crossing on historic properties listed in or eligible for listing in the National Register of Historic Places (NRHP) and gives the Advisory Council on Historic Preservation (ACHP) and state historic preservation offices (SHPOs) an opportunity to comment, in accordance with Section 106 of the National Historic Preservation Act (NHPA) of 1966 (54 United States Code (U.S.C.) 306108) (Section 106), as amended, and the Section 106 implementing regulations (36 CFR part 800). On October 14, 2010, NPT applied to DOE for a Presidential permit to construct, operate, maintain, and connect a high-voltage direct current (HVDC) transmission line across the U.S.-Canada border (the proposed Project). On July 1, 2013, NPT submitted an amended Presidential permit application to DOE (see 78 FR 50405 (Aug. 19, 2013)). On August 31, 2015, NPT further amended its Presidential permit application to DOE (see 80 FR E:\FR\FM\27JNN1.SGM 27JNN1

Agencies

[Federal Register Volume 82, Number 122 (Tuesday, June 27, 2017)]
[Notices]
[Pages 29062-29063]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-13432]


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DEPARTMENT OF EDUCATION


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

AGENCY: Federal Student Aid, Department of Education.

ACTION: Notice.

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

SUMMARY: The Acting Chief Operating Officer for Federal Student Aid 
announces the interest rates for loans made under the William D. Ford 
Federal Direct Loan (Direct Loan) Program on or after July 1, 2017, but 
before July 1, 2018. Catalog of Federal Domestic Assistance (CFDA) 
Number: 84.268.

DATES: This notice is effective June 27, 2017.

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.

SUPPLEMENTARY INFORMATION: Section 455(b) of the Higher Education Act 
of 1965, as amended (HEA) (20 U.S.C. 1087e(b)), provides formulas for 
determining the interest rates charged to borrowers for loans made 
under the Direct Loan Program including: Federal Direct Subsidized 
Stafford Loans (Direct Subsidized Loans); Federal Direct Unsubsidized 
Stafford Loans (Direct Unsubsidized Loans); Federal Direct PLUS Loans 
(Direct PLUS Loans); and Federal Direct Consolidation Loans (Direct 
Consolidation Loans).
    Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS 
Loans (collectively, Direct Loans) first disbursed on or after July 1, 
2013, have a fixed interest rate that is calculated based on the high 
yield of the 10-year Treasury notes auctioned at the final auction held 
before June 1 of each year, plus a statutory add-on percentage (a 
``margin''). While the interest rate determination for new loans will 
be different from year to year, each of these loans will have a fixed 
interest rate for

[[Page 29063]]

the life of the loan. In each case the calculated rate is capped at a 
maximum interest rate. On Wednesday, May 10, 2017, the United States 
Treasury Department held a 10-year Treasury note auction that resulted 
in a high yield of 2.400%.
    The following chart contains specific information on the 
calculation of the interest rates for Direct Loans first disbursed on 
or after July 1, 2017, but before July 1, 2018. We will publish a 
separate notice containing the interest rates for Direct Loans that 
were made in prior years.

      Fixed-Rate Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First Disbursed On or After 7/1/2017 but Before 7/1/2018
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                             Cohort             Index
                                                                                   --------------------------    rate
                                                                                                             -----------   Margin     Fixed    Max. rate
                   Loan type                            Student grade level            First        First      10-Year      (%)     rate  (%)      (%)
                                                                                     disbursed    disbursed    treasury
                                                                                      on/after      before    note  (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Subsidized....................................  Undergraduates....................     7/1/2017     7/1/2018      2.400       2.05       4.45       8.25
Unsubsidized..................................  Undergraduates....................     7/1/2017     7/1/2018      2.400       2.05       4.45       8.25
Unsubsidized..................................  Graduate and Professional Students     7/1/2017     7/1/2018      2.400       3.60       6.00       9.50
PLUS..........................................  Parents of Dependent                   7/1/2017     7/1/2018      2.400       4.60       7.00      10.50
                                                 Undergraduates.
PLUS..........................................  Graduate and Professional Students     7/1/2017     7/1/2018      2.400       4.60       7.00      10.50
--------------------------------------------------------------------------------------------------------------------------------------------------------

    For an application for a Direct Consolidation Loan that was 
received by the Department on or after July 1, 2013, the interest rate 
on that loan is the weighted average of the loans being consolidated, 
rounded to the nearest higher \1/8\ of 1 percent. These Direct 
Consolidation Loans do not have an interest rate cap.
    Accessible Format: Individuals with disabilities can obtain this 
document in an accessible format (e.g., braille, large print, 
audiotape, or compact disc) by contacting the person listed under FOR 
FURTHER INFORMATION CONTACT.
    Electronic Access to This Document: The official version of this 
document is the document published in the Federal Register. Free 
Internet access to the official edition of the Federal Register and the 
Code of Federal Regulations is available via the Federal Digital System 
at www.gpo.gov/fdsys. At this site you can view this document, as well 
as all other documents of this Department published in the Federal 
Register, in text or Adobe Portable Document Format (PDF). To use PDF 
you must have Adobe Acrobat Reader, which is available free at the 
site.
    You may also access documents of the Department published in the 
Federal Register by using the article search feature at 
www.federalregister.gov. Specifically, through the advanced search 
feature at this site, you can limit your search to documents published 
by the Department.
    Program Authority: 20 U.S.C. 1087, et seq.

    Dated: June 22, 2017.
Matthew D. Sessa,
Acting Chief Operating Officer, Federal Student Aid.
[FR Doc. 2017-13432 Filed 6-26-17; 8:45 am]
BILLING CODE 4000-01-P
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