Annual Notice of Interest Rates for Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program Prior to July 1, 2013, 39113-39116 [2017-17425]
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39113
Federal Register / Vol. 82, No. 158 / Thursday, August 17, 2017 / Notices
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 7/1/2017 THROUGH 6/30/2018
Cohort
First disbursed on or
after
Margin
10/1/1992 .....................
7/1/1994 .......................
7/1/1994 .......................
7/1/1995 .......................
7/1/1998 .......................
91-Day T-bill
rate
Max. rate
First disbursed
before
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
In-school,
grace,
deferment
(%)
0.98
0.98
0.98
0.98
0.98
Total rate
(%)
All other
periods
(%)
3.10
3.10
3.10
2.50
1.70
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
(%)
3.10
3.10
3.10
3.10
2.30
All other
periods
(%)
4.08
4.08
4.08
3.48
2.68
4.08
4.08
4.08
4.08
3.28
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 7/1/2017 THROUGH 6/30/2018
Cohort
Index rate
Max. rate
(%)
Loan type
First disbursed
on or after
First disbursed
before
PLUS and SLS .............
SLS ..............................
PLUS ............................
PLUS ............................
PLUS ............................
Loan type .....................
—
10/1/1992
10/1/1992
7/1/1994
7/1/1998
Application
received on or
after
10/1/1992
7/1/1994†
7/1/1994
7/1/1998
7/1/2006
Application
received
before
12.00
11.00
10.00
9.00
9.00
Max. rate
—
—
—
—
0.98
91-Day T-bill
rate
Consolidation ...............
HHS Portion of Consolidation ........................
11/13/1997
10/1/1998
8.25
11/13/1997
—
—
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.
sradovich on DSK3GMQ082PROD with NOTICES
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
VerDate Sep<11>2014
19:44 Aug 16, 2017
Jkt 241001
91-Day T-bill
rate
Margin
(%)
Total rate
(%)
3.25
3.10
3.10
3.10
3.10
Margin
4.47
4.32
4.32
4.32
4.08
Total rate
0.98
1.22
1.22
1.22
1.22
—
Average of the
Bond
equivalent
rates of the
91-Day T-bill
for the quarter
prior to July 1
—
3.10
4.08
—
0.92
3.00
3.92
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Department.
Program Authority: 20 U.S.C. 1071 et
seq.
PO 00000
1-Year constant Treasury
maturity
(%)
Dated: August 14, 2017.
A. Wayne Johnson,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2017–17424 Filed 8–16–17; 8:45 am]
BILLING CODE 4000–01–P
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates for
Federal Student Loans Made Under the
William D. Ford Federal Direct Loan
Program Prior to July 1, 2013
Federal Student Aid,
Department of Education (ED).
AGENCY:
ACTION:
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E:\FR\FM\17AUN1.SGM
Notice.
17AUN1
39114
Federal Register / Vol. 82, No. 158 / Thursday, August 17, 2017 / Notices
This notice is applicable August
17, 2017.
SUMMARY: The 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 prior to July 1,
2013. For loans that have a variable
interest rate, the rates announced in this
notice are in effect for the period July 1,
2017, through June 30, 2018. The Chief
Operating Officer takes this action to
give notice of Direct Loan interest rates
to the public.
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: Catalog of
Federal Domestic Assistance (CFDA)
Number: 84.268.
Section 455(b) of the Higher
Education Act of 1965, as amended
DATES:
(HEA) (20 U.S.C. 1087e(b)), specifies the
interest rates charged to borrowers for
Federal Direct Subsidized Stafford/Ford
Loans (Direct Subsidized Loans),
Federal Direct Unsubsidized Stafford/
Ford Loans (Direct Unsubsidized
Loans), Federal Direct PLUS Loans
(Direct PLUS Loans), and Federal Direct
Consolidation Loans (Direct
Consolidation Loans), collectively
referred to as ‘‘Direct Loans.’’ The
interest rates for Direct Loans may be
variable or fixed.
Variable-Rate Direct Loans
Direct Subsidized Loans, Direct
Unsubsidized Loans, and Direct PLUS
Loans that were first disbursed before
July 1, 2006, and Direct Consolidation
Loans for which the application was
received before February 1, 1999, have
variable interest rates that are
determined each year in accordance
with formulas specified in section
455(b) of the HEA. The variable interest
rate formula that applies to a particular
loan depends on the date of the first
disbursement of the loan or, for some
Direct Consolidation Loans, the date the
application for the loan was received.
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.
Except for Direct PLUS Loans that
were first disbursed before July 1, 1998,
the variable interest rates for most types
of Direct Loans are based on formulas
that use the bond equivalent rates of the
91-day Treasury bills auctioned at the
final auction held before June 1 of each
year, plus a statutory add-on percentage.
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 30,
2017, which is used to calculate the
interest rates on these loans, is 0.976
percent rounded up to 0.98 percent.
The interest rate for Direct PLUS
Loans that were first disbursed on or
after July 1, 1994, and before July 1,
1998, is based on the weekly average of
the one-year constant maturity Treasury
yield, as published by the Board of
Governors of the Federal Reserve
System for 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 26, 2017, which is used to
calculate the interest rate on these loans,
is 1.22 percent.
Charts 1 through 4 in this notice show
the interest rates for variable-rate Direct
Loans that are in effect for the period
July 1, 2017, through June 30, 2018.
CHART 1—VARIABLE-RATE DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED LOANS INTEREST RATES IN EFFECT FOR THE
PERIOD 7/1/2017 THROUGH 6/30/2018
Cohort
Index rate
First disbursed on
or after
First disbursed
before
7/1/1994 ................
7/1/1995 ................
7/1/1998 ................
Max. rate
(%)
7/1/1995 ................
7/1/1998 ................
7/1/2006 ................
8.25
8.25
8.25
Margin
In-school,
grace,
deferment
(%)
91-day
T-bill rate
(%)
0.98
0.98
0.98
Total rate
All other
periods
(%)
3.10
2.50
1.70
3.10
3.10
2.30
In-school,
grace,
deferment
(%)
4.08
3.48
2.68
All other
periods
(%)
4.08
4.08
3.28
CHART 2—VARIABLE-RATE DIRECT PLUS LOANS INTEREST RATES IN EFFECT FOR THE PERIOD 7/1/2017 THROUGH 6/30/
2018
Cohort
Index rate
sradovich on DSK3GMQ082PROD with NOTICES
First disbursed on or after
First disbursed before
7/1/1994 ..............................
7/1/1998 ..............................
7/1/1998 .............................
7/1/2006 .............................
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91-day
T-bill rate
(%)
Max. rate
(%)
9.00
9.00
Fmt 4703
1-year
constant
treasury
maturity
(%)
........................
0.98
1.22
........................
Sfmt 4703
E:\FR\FM\17AUN1.SGM
17AUN1
Margin
(%)
3.10
3.10
Total rate
(%)
4.32
4.08
39115
Federal Register / Vol. 82, No. 158 / Thursday, August 17, 2017 / Notices
CHART 3—VARIABLE-RATE DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED CONSOLIDATION LOANS INTEREST RATES IN
EFFECT FOR THE PERIOD 7/1/2017 THROUGH 6/30/2018
Cohort
Index rate
First disbursed on
or after
First disbursed before
7/1/1994 ................
7/1/1995 ................
7/1/1998 ................
7/1/1995 ................
7/1/1998 ................
10/1/1998 ..............
First disbursed on
or after
10/1/1998 ..............
Application
received on or after
2/1/1999 ................
In-School,
grace,
deferment
(%)
All other
periods
(%)
All other
periods
(%)
Application
received before
10/1/1998 ..............
In-School,
grace,
deferment
(%)
91-Day
T-Bill rate
(%)
Total rate
Application
received before
10/1/1998 ..............
Max. rate
(%)
Margin
8.25
8.25
8.25
0.98
0.98
0.98
3.10
2.50
1.70
3.10
3.10
2.30
4.08
3.48
2.68
4.08
4.08
3.28
8.25
0.98
1.70
2.30
2.68
3.28
8.25
0.98
2.30
2.30
3.28
3.28
CHART 4—VARIABLE-RATE DIRECT PLUS CONSOLIDATION LOANS INTEREST RATES IN EFFECT FOR THE PERIOD 7/1/2017
THROUGH 6/30/2018
Cohort
Index rate
First disbursed on
or after
First disbursed before
7/1/1994 ................
7/1/1998 ................
1.22
....................
3.10
3.10
3.10
3.10
4.32
4.08
4.32
4.08
9.00
0.98
....................
3.10
3.10
4.08
4.08
8.25
2/1/1999 ................
Fixed-Rate Direct Loans
sradovich on DSK3GMQ082PROD with NOTICES
....................
0.98
0.98
....................
2.30
2.30
3.28
3.28
In-school,
grace,
deferment
(%)
All other
periods
(%)
In-School,
grace,
deferment
(%)
All other
periods
(%)
Application
received before
10/1/1998 ..............
9.00
9.00
10/1/1998 ..............
Application
received on or after
1-year
constant
treasury
maturity
(%)
Application
received before
10/1/1998 ..............
Total rate
91-day
T-Bill rate
(%)
Max. rate
(%)
7/1/1998 ................
10/1/1998 ..............
First disbursed on
or after
Margin
Direct Subsidized Loans, Direct
Unsubsidized Loans, and Direct PLUS
Loans first disbursed on or after July 1,
2006, and before July 1, 2013, and Direct
Consolidation Loans for which the
application was received on or after
February 1, 1999, have fixed interest
rates. The fixed interest rates for Direct
Subsidized Loans, Direct Unsubsidized
Loans, and Direct PLUS Loans first
disbursed on or after July 1, 2006, and
before July 1, 2013, and Direct
Consolidation Loans for which the
application was received on or after
February 1, 1999 may be found in a
Federal Register notice published on
October 3, 2016 (81 FR 68003), under
the heading ‘‘Chart 5—Fixed-Rate Direct
Subsidized, Direct Unsubsidized, Direct
PLUS Loans, and Direct Consolidation
Loans First Disbursed On or After 7/1/
2006 and Before 7/1/2013.’’
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Interest rates for Direct Subsidized
Loans, Direct Unsubsidized Loans, and
Direct PLUS Loans first disbursed on or
after July 1, 2013, and before July 1,
2018, are published in earlier Federal
Register notices, as follows:
• For loans first disbursed on or after
July 1, 2013, and prior to July 1, 2014,
see 78 FR 59011.
• For loans first disbursed on or after
July 1, 2014, and prior to July 1, 2015,
see 79 FR 37301.
• For loans first disbursed on or after
July 1, 2015, and prior to July 1, 2016,
see 80 FR 42488.
• For loans first disbursed on or after
July 1, 2016, and prior to July 1, 2017,
see 81 FR 38159.
• For loans first disbursed on or after
July 1, 2017, and prior to July 1, 2018,
see 82 FR 29062.
Electronic Access to This Document:
The official version of this document is
the document published in the Federal
PO 00000
Frm 00013
Fmt 4703
Sfmt 4703
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.
E:\FR\FM\17AUN1.SGM
17AUN1
39116
Federal Register / Vol. 82, No. 158 / Thursday, August 17, 2017 / Notices
sradovich on DSK3GMQ082PROD with NOTICES
Dated: August 14, 2017.
A. Wayne Johnson,
Chief Operating Officer, Federal Student Aid.
Comments Due: 5 p.m. ET 8/30/17.
Docket Numbers: ER17–2273–000.
Applicants: Midcontinent
Independent System Operator, Inc.
[FR Doc. 2017–17425 Filed 8–16–17; 8:45 am]
Description: § 205(d) Rate Filing:
BILLING CODE P4000–01–P
2017–08–09_SA 3041 Gratiot FarmsMETC GIA (G934) to be effective 8/9/
2017.
DEPARTMENT OF ENERGY
Filed Date: 8/9/17.
Accession Number: 20170809–5141.
Federal Energy Regulatory
Comments Due: 5 p.m. ET 8/30/17.
Commission
Docket Numbers: ER17–2274–000.
Combined Notice of Filings #1
Applicants: Midcontinent
Independent System Operator, Inc.
Take notice that the Commission
Description: § 205(d) Rate Filing:
received the following electric corporate
2017–08–10_SA 3037 Pine River Windfilings:
METC GIA (J589) to be effective 7/27/
Docket Numbers: EC17–156–000.
2017.
Applicants: Hog Creek Wind Project,
Filed Date: 8/10/17.
LLC.
Accession Number: 20170810–5008.
Description: Application for
Comments Due: 5 p.m. ET 8/31/17.
Authorization for Disposition of
Docket Numbers: ER17–2275–000.
Jurisdictional Facilities and Request for
Applicants: Green Power Energy LLC.
Expedited Action of Hog Creek Wind
Description: Petition for Limited
Project, LLC.
Waiver and Request for Expedited
Filed Date: 8/9/17.
Action of Green Power Energy LLC.
Accession Number: 20170809–5158.
Filed Date: 8/10/17.
Comments Due: 5 p.m. ET 8/30/17.
Accession Number: 20170810–5026.
Take notice that the Commission
Comments Due: 5 p.m. ET 8/31/17.
received the following electric rate
Docket Numbers: ER17–2276–000.
filings:
Applicants: Midcontinent
Docket Numbers: ER15–794–006.
Applicants: Catalyst Paper Operations Independent System Operator, Inc.
Description: § 205(d) Rate Filing:
Inc.
2017–08–10_Termination of Project J233
Description: Compliance filing:
E&P Agreements (SA 2507 & SA 2696)
Update MBR Tariff to be effective 1/27/
to be effective 8/11/2017.
2017.
Filed Date: 8/10/17.
Filed Date: 8/10/17.
Accession Number: 20170810–5027.
Accession Number: 20170810–5032.
Comments Due: 5 p.m. ET 8/31/17.
Comments Due: 5 p.m. ET 8/31/17.
Docket Numbers: ER17–2277–000.
Docket Numbers: ER17–2200–001.
Applicants: Midcontinent
Applicants: PJM Interconnection,
Independent System Operator, Inc.
L.L.C.
Description: § 205(d) Rate Filing:
Description: Tariff Amendment: Errata
2017–08–10_SA 1976 MEC–ITC
to OATT Att O and P revisions
Midwest 3rd Revised TIA to be effective
submitted in ER17–2200 re: Solar
8/21/2017.
Generation to be effective 9/29/2017.
Filed Date: 8/10/17.
Filed Date: 8/10/17.
Accession Number: 20170810–5036.
Accession Number: 20170810–5056.
Comments Due: 5 p.m. ET 8/31/17.
Comments Due: 5 p.m. ET 8/31/17.
Docket Numbers: ER17–2278–000.
Docket Numbers: ER17–2271–000.
Applicants: Midcontinent
Applicants: New York Independent
Independent System Operator, Inc.,
System Operator, Inc.
Otter Tail Power Company.
Description: § 205(d) Rate Filing:
Description: § 205(d) Rate Filing:
NYISO 205 filing black start and system
2017–08–10_SA 3035 OTP-Dakota
restoration service tariff revisions to be
Range I & II E&P (J436 J437) to be
effective 10/8/2017.
effective 7/29/2017.
Filed Date: 8/9/17.
Filed Date: 8/10/17.
Accession Number: 20170809–5114.
Accession Number: 20170810–5052.
Comments Due: 5 p.m. ET 8/30/17.
Comments Due: 5 p.m. ET 8/31/17.
Docket Numbers: ER17–2272–000.
Docket Numbers: ER17–2279–000.
Applicants: Wolverine Power Supply
Applicants: Duke Energy Progress,
Cooperative, Inc.
LLC.
Description: § 205(d) Rate Filing:
Description: § 205(d) Rate Filing:
Second Amended and Restated IFA
Craven LGIA SA 271 Filing to be
Agreement to be effective 12/31/9998.
effective 10/10/2017.
Filed Date: 8/9/17.
Filed Date: 8/10/17.
Accession Number: 20170809–5134.
VerDate Sep<11>2014
19:44 Aug 16, 2017
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PO 00000
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Fmt 4703
Sfmt 9990
Accession Number: 20170810–5071.
Comments Due: 5 p.m. ET 8/31/17.
Docket Numbers: ER17–2280–000.
Applicants: Southwestern Public
Service Company.
Description: § 205(d) Rate Filing:
SPS–GSEC–RBEC–CA–Wolves–668–
0.0.0 to be effective 10/8/2017.
Filed Date: 8/10/17.
Accession Number: 20170810–5089.
Comments Due: 5 p.m. ET 8/31/17.
Docket Numbers: ER17–2281–000.
Applicants: Swamp Fox Solar, LLC.
Description: Baseline eTariff Filing:
Baseline new to be effective 10/10/2017.
Filed Date: 8/10/17.
Accession Number: 20170810–5093.
Comments Due: 5 p.m. ET 8/31/17.
Docket Numbers: ER17–2282–000.
Applicants: Champion Solar, LLC.
Description: Baseline eTariff Filing:
Baseline new to be effective 10/10/2017.
Filed Date: 8/10/17.
Accession Number: 20170810–5095.
Comments Due: 5 p.m. ET 8/31/17.
Take notice that the Commission
received the following electric securities
filings:
Docket Numbers: ES17–52–000.
Applicants: Upper Peninsula Power
Company.
Description: Application of Upper
Peninsula Power Company for
Authorization under Section 204 of the
Federal Power Act and Request for
Expedited Treatment.
Filed Date: 8/10/17.
Accession Number: 20170810–5072.
Comments Due: 5 p.m. ET 8/31/17.
The filings are accessible in the
Commission’s eLibrary system by
clicking on the links or querying the
docket number.
Any person desiring to intervene or
protest in any of the above proceedings
must file in accordance with Rules 211
and 214 of the Commission’s
Regulations (18 CFR 385.211 and
385.214) on or before 5:00 p.m. Eastern
time on the specified comment date.
Protests may be considered, but
intervention is necessary to become a
party to the proceeding.
eFiling is encouraged. More detailed
information relating to filing
requirements, interventions, protests,
service, and qualifying facilities filings
can be found at: https://www.ferc.gov/
docs-filing/efiling/filing-req.pdf. For
other information, call (866) 208–3676
(toll free). For TTY, call (202) 502–8659.
Dated: August 10, 2017.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2017–17349 Filed 8–16–17; 8:45 am]
BILLING CODE P6717–01–P
E:\FR\FM\17AUN1.SGM
17AUN1
]]>Agencies
[Federal Register Volume 82, Number 158 (Thursday, August 17, 2017)]
[Notices]
[Pages 39113-39116]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-17425]
-----------------------------------------------------------------------
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates for Federal Student Loans Made
Under the William D. Ford Federal Direct Loan Program Prior to July 1,
2013
AGENCY: Federal Student Aid, Department of Education (ED).
ACTION: Notice.
-----------------------------------------------------------------------
[[Page 39114]]
DATES: This notice is applicable August 17, 2017.
SUMMARY: The 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 prior to July 1, 2013. For loans that
have a variable interest rate, the rates announced in this notice are
in effect for the period July 1, 2017, through June 30, 2018. The Chief
Operating Officer takes this action to give notice of Direct Loan
interest rates to the public.
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: Catalog of Federal Domestic Assistance
(CFDA) Number: 84.268.
Section 455(b) of the Higher Education Act of 1965, as amended
(HEA) (20 U.S.C. 1087e(b)), specifies the interest rates charged to
borrowers for Federal Direct Subsidized Stafford/Ford Loans (Direct
Subsidized Loans), Federal Direct Unsubsidized Stafford/Ford Loans
(Direct Unsubsidized Loans), Federal Direct PLUS Loans (Direct PLUS
Loans), and Federal Direct Consolidation Loans (Direct Consolidation
Loans), collectively referred to as ``Direct Loans.'' The interest
rates for Direct Loans may be variable or fixed.
Variable-Rate Direct Loans
Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS
Loans that were first disbursed before July 1, 2006, and Direct
Consolidation Loans for which the application was received before
February 1, 1999, have variable interest rates that are determined each
year in accordance with formulas specified in section 455(b) of the
HEA. The variable interest rate formula that applies to a particular
loan depends on the date of the first disbursement of the loan or, for
some Direct Consolidation Loans, the date the application for the loan
was received. 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.
Except for Direct PLUS Loans that were first disbursed before July
1, 1998, the variable interest rates for most types of Direct Loans are
based on formulas that use the bond equivalent rates of the 91-day
Treasury bills auctioned at the final auction held before June 1 of
each year, plus a statutory add-on percentage. 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 30, 2017,
which is used to calculate the interest rates on these loans, is 0.976
percent rounded up to 0.98 percent.
The interest rate for Direct PLUS Loans that were first disbursed
on or after July 1, 1994, and before July 1, 1998, is based on the
weekly average of the one-year constant maturity Treasury yield, as
published by the Board of Governors of the Federal Reserve System for
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 26, 2017, which is used to
calculate the interest rate on these loans, is 1.22 percent.
Charts 1 through 4 in this notice show the interest rates for
variable-rate Direct Loans that are in effect for the period July 1,
2017, through June 30, 2018.
Chart 1--Variable-Rate Direct Subsidized and Direct Unsubsidized Loans Interest Rates in Effect for the Period 7/1/2017 Through 6/30/2018
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate Margin Total rate
--------------------------------------------------------- -------------------------------------------------------------------------------
Max. rate (%) In-school, In-school,
First disbursed on or after First disbursed 91-day T-bill grace, All other grace, All other
before rate (%) deferment (%) periods (%) deferment (%) periods (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994.......................... 7/1/1995............ 8.25 0.98 3.10 3.10 4.08 4.08
7/1/1995.......................... 7/1/1998............ 8.25 0.98 2.50 3.10 3.48 4.08
7/1/1998.......................... 7/1/2006............ 8.25 0.98 1.70 2.30 2.68 3.28
--------------------------------------------------------------------------------------------------------------------------------------------------------
Chart 2--Variable-Rate Direct PLUS Loans Interest Rates in Effect for the Period 7/1/2017 Through 6/30/2018
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate
------------------------------------------------------------------------- --------------------------------
1-year Total rate
Max. rate (%) 91-day T-bill constant Margin (%) (%)
First disbursed on or after First disbursed before rate (%) treasury
maturity (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994.................................. 7/1/1998.................... 9.00 .............. 1.22 3.10 4.32
7/1/1998.................................. 7/1/2006.................... 9.00 0.98 .............. 3.10 4.08
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 39115]]
Chart 3--Variable-Rate Direct Subsidized and Direct Unsubsidized Consolidation Loans Interest Rates in Effect for the Period 7/1/2017 Through 6/30/2018
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate Margin Total rate
--------------------------------------------------------- -------------------------------------------------------------------------------
Max. rate (%) In-School, In-School,
First disbursed on or after First disbursed 91-Day T-Bill grace, All other grace, All other
before rate (%) deferment (%) periods (%) deferment (%) periods (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994.......................... 7/1/1995............ 8.25 0.98 3.10 3.10 4.08 4.08
7/1/1995.......................... 7/1/1998............ 8.25 0.98 2.50 3.10 3.48 4.08
7/1/1998.......................... 10/1/1998........... 8.25 0.98 1.70 2.30 2.68 3.28
--------------------------------------------------------------------------------------------------------------------------------------------------------
First disbursed on or after Application received
before
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1998......................... 10/1/1998........... 8.25 0.98 1.70 2.30 2.68 3.28
--------------------------------------------------------------------------------------------------------------------------------------------------------
Application received on or after Application received
before
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1998......................... 2/1/1999............ 8.25 0.98 2.30 2.30 3.28 3.28
--------------------------------------------------------------------------------------------------------------------------------------------------------
Chart 4--Variable-Rate Direct PLUS Consolidation Loans Interest Rates in Effect for the Period 7/1/2017 Through 6/30/2018
--------------------------------------------------------------------------------------------------------------------------------------------------------
Cohort Index rate Margin Total rate
-------------------------------------------------------------- -----------------------------------------------------------------------------
1-year
Max. rate 91-day T- constant In-school, All other In-School, All other
First disbursed on or after First disbursed before (%) Bill rate treasury grace, periods grace, periods
(%) maturity deferment (%) deferment (%)
(%) (%) (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994............................ 7/1/1998............... 9.00 ........... 1.22 3.10 3.10 4.32 4.32
7/1/1998............................ 10/1/1998.............. 9.00 0.98 ........... 3.10 3.10 4.08 4.08
--------------------------------------------------------------------------------------------------------------------------------------------------------
First disbursed on or after Application received
before
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1998........................... 10/1/1998.............. 9.00 0.98 ........... 3.10 3.10 4.08 4.08
--------------------------------------------------------------------------------------------------------------------------------------------------------
Application received on or after Application received
before
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1998........................... 2/1/1999............... 8.25 0.98 ........... 2.30 2.30 3.28 3.28
--------------------------------------------------------------------------------------------------------------------------------------------------------
Fixed-Rate Direct Loans
Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS
Loans first disbursed on or after July 1, 2006, and before July 1,
2013, and Direct Consolidation Loans for which the application was
received on or after February 1, 1999, have fixed interest rates. The
fixed interest rates for Direct Subsidized Loans, Direct Unsubsidized
Loans, and Direct PLUS Loans first disbursed on or after July 1, 2006,
and before July 1, 2013, and Direct Consolidation Loans for which the
application was received on or after February 1, 1999 may be found in a
Federal Register notice published on October 3, 2016 (81 FR 68003),
under the heading ``Chart 5--Fixed-Rate Direct Subsidized, Direct
Unsubsidized, Direct PLUS Loans, and Direct Consolidation Loans First
Disbursed On or After 7/1/2006 and Before 7/1/2013.''
Interest rates for Direct Subsidized Loans, Direct Unsubsidized
Loans, and Direct PLUS Loans first disbursed on or after July 1, 2013,
and before July 1, 2018, are published in earlier Federal Register
notices, as follows:
For loans first disbursed on or after July 1, 2013, and
prior to July 1, 2014, see 78 FR 59011.
For loans first disbursed on or after July 1, 2014, and
prior to July 1, 2015, see 79 FR 37301.
For loans first disbursed on or after July 1, 2015, and
prior to July 1, 2016, see 80 FR 42488.
For loans first disbursed on or after July 1, 2016, and
prior to July 1, 2017, see 81 FR 38159.
For loans first disbursed on or after July 1, 2017, and
prior to July 1, 2018, see 82 FR 29062.
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.
[[Page 39116]]
Dated: August 14, 2017.
A. Wayne Johnson,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2017-17425 Filed 8-16-17; 8:45 am]
BILLING CODE P4000-01-P
