Annual Notice of Interest Rates for Variable-Rate Federal Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010, 2415-2417 [2020-00570]
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Federal Register / Vol. 85, No. 10 / Wednesday, January 15, 2020 / Notices
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates for
Variable-Rate 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:
The Chief Operating Officer
for Federal Student Aid announces the
interest rates for loans made under the
Federal Family Education Loan (FFEL)
Program that have variable interest
rates. The rates announced in this notice
are in effect for the period July 1, 2019,
through June 30, 2020. Catalog of
Federal Domestic Assistance (CFDA)
Number: 84.032.
FOR FURTHER INFORMATION CONTACT: Jon
Utz, U.S. Department of Education, 830
First Street NE, 11th Floor, Washington,
DC 20202. Telephone: (202) 377–4040
or by email: Jon.Utz@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.
SUMMARY:
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
FFEL Program, including Federal
Subsidized and Unsubsidized Stafford
Loans (Stafford Loans), Federal PLUS
Loans (PLUS Loans), Federal
Consolidation Loans (Consolidation
Loans), and Federal Supplemental
Loans for Students (SLS Loans). No new
loans have been made under the FFEL
Program since June 30, 2010.
The FFEL Program includes loans
with variable interest rates that change
each year and loans with fixed interest
rates that remain the same for the life of
the loan. For loans with a variable
interest rate, the specific interest rate
formula that applies to a particular loan
depends on the date of the first
disbursement of the loan or, in the case
of a Consolidation Loan, the date the
application for the loan was received. If
a loan has a variable interest rate, a new
jbell on DSKJLSW7X2PROD with NOTICES
SUPPLEMENTARY INFORMATION:
VerDate Sep<11>2014
17:18 Jan 14, 2020
Jkt 250001
rate is determined annually and is in
effect during the period from July 1 of
one year through June 30 of the
following year.
This notice announces the interest
rates for variable-rate FFEL Program
loans that will be in effect during the
period from July 1, 2019, through June
30, 2020. Interest rates for fixed-rate
FFEL Program loans may be found in a
Federal Register notice published on
September 15, 2015 (80 FR 55342).
For the majority of variable-rate FFEL
Program loans, the annual interest rate
is equal to the lesser of—
(1) The bond equivalent rate of the 91day Treasury bills auctioned at the final
auction held before June 1 of each year,
plus a statutory add-on percentage; or
(2) A statutorily established maximum
interest rate.
The bond equivalent rate of the 91day Treasury bills auctioned on May 28,
2019, is 2.362 percent, rounded to 2.36
percent.
For PLUS Loans first disbursed before
July 1, 1998, and for all SLS Loans, the
annual interest rate is equal to the lesser
of—
(1) 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
calendar week ending on or before June
26 of each year, plus a statutory add-on
percentage; or
(2) A statutorily established maximum
interest rate.
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
calendar week ending on or before June
26, 2019, is 1.98 percent.
For Consolidation Loans that have a
variable interest rate, the annual interest
rate for the portion of a Consolidation
Loan that repaid loans other than loans
made under the Health Education
Assistance Loans (HEAL) Program is
equal to—
(1) The bond equivalent rate of the 91day Treasury bill auctioned at the final
auction held before June 1 of each year,
plus a statutory add-on percentage; or
(2) A statutorily established maximum
interest rate.
If a Consolidation Loan (whether a
variable-rate loan or a fixed-rate loan)
repaid loans made under the HEAL
PO 00000
Frm 00033
Fmt 4703
Sfmt 4703
2415
Program, the interest rate on the portion
of the Consolidation Loan that repaid
HEAL loans is a variable rate that is
equal to the average of the bond
equivalent rates of the 91-day Treasury
bills auctioned for the quarter ending
June 30, plus a statutory add-on
percentage. For the portion of a
Consolidation Loan that repaid HEAL
loans, there is no maximum interest
rate.
The average of the bond equivalent
rates of the 91-day Treasury bills
auctioned for the quarter ending on June
30, 2019, is 2.37 percent.
The statutory add-on percentages and
maximum interest rates vary depending
on loan type and when the loan was
first disbursed. In addition, the add-on
percentage for certain Stafford Loans is
different depending on whether the loan
is in an in-school, grace, or deferment
status, or in any other status. If the
interest rate calculated in accordance
with the applicable formula exceeds the
statutory maximum interest rate, the
statutory maximum rate applies.
Charts 1 through 4 show the interest
rate formulas that are used to determine
the interest rates for all variable-rate
FFEL Program loans and the interest
rates that are in effect during the 12month period from July 1, 2019, through
June 30, 2020. Unless otherwise
indicated, the cohorts shown in each
chart include all borrowers, regardless
of prior borrowing.
Chart 1 shows the interest rates for
loans with rates based on the 91-day
Treasury bill, with the exception of
‘‘converted’’ variable-rate Federal
Stafford Loans and certain Federal
Consolidation Loans.
Chart 2 shows the interest rates for
loans with rates based on the weekly
average of the one-year constant
maturity Treasury yield.
Chart 3 shows the interest rates for
‘‘converted’’ variable-rate Federal
Stafford Loans. These are loans that
originally had varying fixed interest
rates.
Finally, Chart 4 shows the interest
rates for variable-rate Federal
Consolidation Loans, and for the portion
of any Federal Consolidation Loan that
repaid loans made under the HEAL
Program.
E:\FR\FM\15JAN1.SGM
15JAN1
2416
Federal Register / Vol. 85, No. 10 / Wednesday, January 15, 2020 / Notices
CHART 1—SUBSIDIZED FEDERAL STAFFORD LOANS, UNSUBSIDIZED FEDERAL STAFFORD LOANS, AND FEDERAL PLUS
LOANS
[Interest rate based on 91-day Treasury bill]
Loan type
Cohort
91-Day T-bill
rate 05/28/19
(%)
Add-on
(%)
* 1.70
Maximum rate
(%)
† 2.30
Interest rate 07/01/19
through 06/30/20
(%)
Subsidized Stafford, Unsubsidized Stafford.
First disbursed on/after 07/01/98
and before 07/01/06.
2.36
8.25
PLUS ...........................................
First disbursed on/after 07/01/98
and before 07/01/06.
2.36
Subsidized Stafford, Unsubsidized Stafford.
First disbursed on/after 07/01/95
and before 07/01/98.
2.36
Subsidized Stafford, Unsubsidized Stafford.
First disbursed on/after 07/01/94
and before 07/01/95, for a period of enrollment that included or began on or after
07/01/94.
2.36
3.10
8.25
5.46
Subsidized Stafford, Unsubsidized Stafford.
First disbursed on/after 10/01/92
and before 07/01/94; and First
disbursed on/after 07/01/94,
for a period of enrollment
ending before 07/01/94 (new
borrowers).
2.36
3.10
9.00
5.46
3.10
* 4.06
9.00
* 2.50
† 3.10
† 4.66
5.46
8.25
* 4.86
† 5.46
* (in-school, grace, deferment).
† (any other status).
CHART 2—FEDERAL PLUS LOANS AND SLS LOANS
[Interest rate based on weekly average of one-year constant maturity Treasury yield]
Weekly average of
1-year constant
maturity treasury
yield for last
calendar week
ending on or
before 06/26/19
(%)
Loan type
Cohort
PLUS ...........................................
First disbursed on/after 07/01/94
and before 07/01/98.
First disbursed on/after 10/01/92
and before 07/01/94.
First disbursed on/after 10/01/
92,for a period of enrollment
beginning before 07/01/94.
First disbursed before 10/01/92
PLUS ...........................................
SLS .............................................
PLUS SLS ...................................
Add-on
(%)
Maximum rate
(%)
Interest rate
07/01/19 through
06/30/20
(%)
1.98
3.10
9.00
5.08
1.98
3.10
10.00
5.08
1.98
3.10
11.00
5.08
1.98
3.25
12.00
5.23
CHART 3—‘‘CONVERTED’’ VARIABLE-RATE SUBSIDIZED AND UNSUBSIDIZED FEDERAL STAFFORD LOANS
[Interest rate based on 91-day Treasury bill]
Loan type
Subsidized Stafford, Unsubsidized
Stafford.
Subsidized Stafford, Unsubsidized
Stafford.
jbell on DSKJLSW7X2PROD with NOTICES
Subsidized Stafford, Unsubsidized
Stafford.
Subsidized Stafford, Unsubsidized
Stafford.
Subsidized Stafford, Unsubsidized
Stafford.
Subsidized Stafford, Unsubsidized
Stafford.
VerDate Sep<11>2014
17:18 Jan 14, 2020
Original fixed
interest rate
(later converted to
variable rate)
(%)
Cohort
First disbursed on or after 07/23/92
and before 07/01/94 (prior borrowers).
First disbursed on or after 07/23/92
and before 07/01/94 (prior borrowers).
First disbursed on or after 07/23/92
and before 07/01/94 (prior borrowers).
First disbursed on or after 07/23/92
and before 07/01/94 (prior borrowers).
First disbursed on or after 07/23/92
and before 10/01/92 (new borrowers).
First disbursed on or after 07/01/88
and before 07/23/92.
Jkt 250001
PO 00000
Frm 00034
91-Day T-bill
rate 05/28/19
(%)
Add-on
(%)
Maximum
rate
(%)
Interest rate
07/01/19
through
06/30/20
(%)
8.00, increasing to
10.00.
2.36
3.10
10.00
5.46
9.00 .......................
2.36
3.10
9.00
5.46
8.00 .......................
2.36
3.10
8.00
5.46
7.00 .......................
2.36
3.10
7.00
5.46
8.00, increasing to
10.00.
2.36
3.25
10.00
5.61
8.00, increasing to
10.00.
2.36
3.25
10.00
5.61
Fmt 4703
Sfmt 4703
E:\FR\FM\15JAN1.SGM
15JAN1
2417
Federal Register / Vol. 85, No. 10 / Wednesday, January 15, 2020 / Notices
CHART 4—FEDERAL CONSOLIDATION LOANS
Consolidation loan component
Cohort
Portion of loan that repaid loans other
than HEAL loans.
Portion of the loan that repaid HEAL
loans.
Application received on/after 11/13/97
and before 10/01/98.
Application received on/after 11/13/97 ...
Accessible Format: 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.
Electronic Access to This Document:
The official version of this document is
the document published in the Federal
Register. You may access the official
edition of the Federal Register and the
Code of Federal Regulations at
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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: January 9, 2020.
Mark A. Brown,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2020–00570 Filed 1–14–20; 8:45 am]
BILLING CODE 4000–01–P
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates for
Fixed-Rate Federal Student Loans
Made Under the William D. Ford
Federal Direct Loan Program
Federal Student Aid,
Department of Education.
ACTION: Notice.
jbell on DSKJLSW7X2PROD with NOTICES
AGENCY:
The Chief Operating Officer
for Federal Student Aid announces the
interest rates for Federal Direct Stafford/
Ford Loans (Direct Subsidized Loans),
SUMMARY:
VerDate Sep<11>2014
17:18 Jan 14, 2020
91-Day T-bill
rate 05/28/19
(%)
Jkt 250001
Average of the
bond equivalent rates of
the 91-day Tbills auctioned
for the quarter
ending
06/30/19
(%)
Frm 00035
Fmt 4703
Sfmt 4703
Maximum
rate
(%)
Interest rate
07/01/19
through
06/30/20
(%)
2.36
N/A
3.10
8.25
5.46
N/A
2.37
3.00
None
5.37
Federal Direct Unsubsidized Stafford/
Ford Loans (Direct Unsubsidized
Loans), and Federal Direct PLUS Loans
(Direct PLUS Loans) made under the
William D. Ford Federal Direct Loan
(Direct Loan) Program with first
disbursement dates on or after July 1,
2019, and before July 1, 2020. Catalog of
Federal Domestic Assistance (CFDA)
Number: 84.268.
FOR FURTHER INFORMATION CONTACT: Jon
Utz, U.S. Department of Education, 830
First Street NE, 11th Floor, Washington,
DC 20202. Telephone: (202) 377–4040
or by email: Jon.Utz@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: Direct
Subsidized Loans, Direct Unsubsidized
Loans, Direct PLUS Loans, and Direct
Consolidation Loans (collectively
referred to as ‘‘Direct Loans’’) may have
either fixed or variable interest rates,
depending on when the loan was first
disbursed or, in the case of a Direct
Consolidation Loan, when the
application for the loan was received.
Direct Subsidized Loans, Direct
Unsubsidized Loans, and Direct PLUS
Loans first disbursed on or after July 1,
2006, and Direct Consolidation Loans
for which the application was received
on or after February 1, 1999, have fixed
interest rates that apply for the life of
the loan. Direct Subsidized Loans,
Direct Unsubsidized Loans, and Direct
PLUS Loans 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
annually and are in effect during the
period from July 1 of one year through
June 30 of the following year.
This notice announces the fixed
interest rates for Direct Subsidized
Loans, Direct Unsubsidized Loans, and
Direct PLUS Loans with first
disbursement dates on or after July 1,
PO 00000
Add-on
(%)
2019, and before July 1, 2020, and
provides interest rate information for
other fixed-rate Direct Loans. Interest
rate information for variable-rate Direct
Loans is announced in a separate
Federal Register notice.
Fixed-Rate Direct Subsidized Loans,
Direct Unsubsidized Loans, and Direct
PLUS Loans First Disbursed on or After
July 1, 2013
Section 455(b) of the Higher
Education Act of 1965, as amended
(HEA) (20 U.S.C. 1087e(b)) includes
formulas for determining the interest
rates for all Direct Subsidized Loans,
Direct Unsubsidized Loans, and Direct
PLUS Loans first disbursed on or after
July 1, 2013. The interest rate for these
loans is a fixed rate that is determined
annually for all loans first disbursed
during any 12-month period beginning
on July 1 and ending on June 30. The
rate is equal to the high yield of the 10year Treasury notes auctioned at the
final auction held before June 1 of that
12-month period, plus a statutory addon percentage that varies depending on
the loan type and, for Direct
Unsubsidized Loans, whether the loan
was made to an undergraduate or
graduate student. The calculated
interest rate may not exceed a maximum
rate specified in the HEA. If the interest
rate formula results in a rate that
exceeds the statutory maximum rate, the
rate is the statutory maximum rate.
Loans first disbursed during different
12-month periods that begin on July 1
and end on June 30 may have different
interest rates, but the rate determined
for any loan is a fixed interest rate for
the life of the loan.
On May 8, 2019, the United States
Treasury Department held a 10-year
Treasury note auction that resulted in a
high yield of 2.479 percent.
Chart 1 shows the fixed interest rates
for Direct Subsidized Loans, Direct
Unsubsidized Loans, and Direct PLUS
Loans first disbursed on or after July 1,
2019, and before July 1, 2020.
E:\FR\FM\15JAN1.SGM
15JAN1
]]>Agencies
[Federal Register Volume 85, Number 10 (Wednesday, January 15, 2020)]
[Notices]
[Pages 2415-2417]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-00570]
[[Page 2415]]
-----------------------------------------------------------------------
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates for Variable-Rate 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.
-----------------------------------------------------------------------
SUMMARY: The Chief Operating Officer for Federal Student Aid announces
the interest rates for loans made under the Federal Family Education
Loan (FFEL) Program that have variable interest rates. The rates
announced in this notice are in effect for the period July 1, 2019,
through June 30, 2020. Catalog of Federal Domestic Assistance (CFDA)
Number: 84.032.
FOR FURTHER INFORMATION CONTACT: Jon Utz, U.S. Department of Education,
830 First Street NE, 11th Floor, Washington, DC 20202. Telephone: (202)
377-4040 or by email: [email protected].
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 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 FFEL Program, including Federal Subsidized and Unsubsidized
Stafford Loans (Stafford Loans), Federal PLUS Loans (PLUS Loans),
Federal Consolidation Loans (Consolidation Loans), and Federal
Supplemental Loans for Students (SLS Loans). No new loans have been
made under the FFEL Program since June 30, 2010.
The FFEL Program includes loans with variable interest rates that
change each year and loans with fixed interest rates that remain the
same for the life of the loan. For loans with a variable interest rate,
the specific interest rate formula that applies to a particular loan
depends on the date of the first disbursement of the loan or, in the
case of a Consolidation Loan, the date the application for the loan was
received. If a loan has a variable interest rate, a new rate is
determined annually and is in effect during the period from July 1 of
one year through June 30 of the following year.
This notice announces the interest rates for variable-rate FFEL
Program loans that will be in effect during the period from July 1,
2019, through June 30, 2020. Interest rates for fixed-rate FFEL Program
loans may be found in a Federal Register notice published on September
15, 2015 (80 FR 55342).
For the majority of variable-rate FFEL Program loans, the annual
interest rate is equal to the lesser of--
(1) The bond equivalent rate of the 91-day Treasury bills auctioned
at the final auction held before June 1 of each year, plus a statutory
add-on percentage; or
(2) A statutorily established maximum interest rate.
The bond equivalent rate of the 91-day Treasury bills auctioned on
May 28, 2019, is 2.362 percent, rounded to 2.36 percent.
For PLUS Loans first disbursed before July 1, 1998, and for all SLS
Loans, the annual interest rate is equal to the lesser of--
(1) 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 calendar week ending on or before June 26 of each
year, plus a statutory add-on percentage; or
(2) A statutorily established maximum interest rate.
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 calendar week ending on or before June 26, 2019,
is 1.98 percent.
For Consolidation Loans that have a variable interest rate, the
annual interest rate for the portion of a Consolidation Loan that
repaid loans other than loans made under the Health Education
Assistance Loans (HEAL) Program is equal to--
(1) The bond equivalent rate of the 91-day Treasury bill auctioned
at the final auction held before June 1 of each year, plus a statutory
add-on percentage; or
(2) A statutorily established maximum interest rate.
If a Consolidation Loan (whether a variable-rate loan or a fixed-
rate loan) repaid loans made under the HEAL Program, the interest rate
on the portion of the Consolidation Loan that repaid HEAL loans is a
variable rate that is equal to the average of the bond equivalent rates
of the 91-day Treasury bills auctioned for the quarter ending June 30,
plus a statutory add-on percentage. For the portion of a Consolidation
Loan that repaid HEAL loans, there is no maximum interest rate.
The average of the bond equivalent rates of the 91-day Treasury
bills auctioned for the quarter ending on June 30, 2019, is 2.37
percent.
The statutory add-on percentages and maximum interest rates vary
depending on loan type and when the loan was first disbursed. In
addition, the add-on percentage for certain Stafford Loans is different
depending on whether the loan is in an in-school, grace, or deferment
status, or in any other status. If the interest rate calculated in
accordance with the applicable formula exceeds the statutory maximum
interest rate, the statutory maximum rate applies.
Charts 1 through 4 show the interest rate formulas that are used to
determine the interest rates for all variable-rate FFEL Program loans
and the interest rates that are in effect during the 12-month period
from July 1, 2019, through June 30, 2020. Unless otherwise indicated,
the cohorts shown in each chart include all borrowers, regardless of
prior borrowing.
Chart 1 shows the interest rates for loans with rates based on the
91-day Treasury bill, with the exception of ``converted'' variable-rate
Federal Stafford Loans and certain Federal Consolidation Loans.
Chart 2 shows the interest rates for loans with rates based on the
weekly average of the one-year constant maturity Treasury yield.
Chart 3 shows the interest rates for ``converted'' variable-rate
Federal Stafford Loans. These are loans that originally had varying
fixed interest rates.
Finally, Chart 4 shows the interest rates for variable-rate Federal
Consolidation Loans, and for the portion of any Federal Consolidation
Loan that repaid loans made under the HEAL Program.
[[Page 2416]]
Chart 1--Subsidized Federal Stafford Loans, Unsubsidized Federal Stafford Loans, and Federal PLUS Loans
[Interest rate based on 91-day Treasury bill]
--------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------------------------------
Loan type Cohort................... 91-Day T- Add-on Maximum rate Interest rate 07/01/19
bill
rate 05/28/ (%) (%) through 06/30/20
19
(%) (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Subsidized Stafford, Unsubsidized First disbursed on/after 2.36 * 1.70 [dagger] 8.25 * 4.06 [dagger]
Stafford. 07/01/98 and before 07/ 2.30 4.66
01/06.
-------------------------------------------------------------------------------------
PLUS................................... First disbursed on/after 2.36 3.10 9.00 5.46
07/01/98 and before 07/
01/06.
-------------------------------------------------------------------------------------
Subsidized Stafford, Unsubsidized First disbursed on/after 2.36 * 2.50 [dagger] 8.25 * 4.86 [dagger]
Stafford. 07/01/95 and before 07/ 3.10 5.46
01/98.
-------------------------------------------------------------------------------------
Subsidized Stafford, Unsubsidized First disbursed on/after 2.36 3.10 8.25 5.46
Stafford. 07/01/94 and before 07/
01/95, for a period of
enrollment that included
or began on or after 07/
01/94.
-------------------------------------------------------------------------------------
Subsidized Stafford, Unsubsidized First disbursed on/after 2.36 3.10 9.00 5.46
Stafford. 10/01/92 and before 07/
01/94; and First
disbursed on/after 07/01/
94, for a period of
enrollment ending before
07/01/94 (new borrowers).
--------------------------------------------------------------------------------------------------------------------------------------------------------
* (in-school, grace, deferment).
[dagger] (any other status).
Chart 2--Federal PLUS Loans and SLS Loans
[Interest rate based on weekly average of one-year constant maturity Treasury yield]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Weekly average of
1-year constant
maturity treasury
yield for last Maximum rate Interest rate 07/
Loan type Cohort calendar week Add-on (%) (%) 01/19 through 06/
ending on or 30/20 (%)
before 06/26/19
(%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
PLUS........................................... First disbursed on/after 07/01/94 1.98 3.10 9.00 5.08
and before 07/01/98.
PLUS........................................... First disbursed on/after 10/01/92 1.98 3.10 10.00 5.08
and before 07/01/94.
SLS............................................ First disbursed on/after 10/01/ 1.98 3.10 11.00 5.08
92,for a period of enrollment
beginning before 07/01/94.
PLUS SLS....................................... First disbursed before 10/01/92.. 1.98 3.25 12.00 5.23
--------------------------------------------------------------------------------------------------------------------------------------------------------
Chart 3--``Converted'' Variable-Rate Subsidized and Unsubsidized Federal Stafford Loans
[Interest rate based on 91-day Treasury bill]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Interest rate
Original fixed interest 91-Day T-bill Maximum 07/01/19
Loan type Cohort rate (later converted to rate 05/28/19 Add-on (%) rate (%) through 06/30/
variable rate) (%) (%) 20 (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Subsidized Stafford, Unsubsidized First disbursed on or 8.00, increasing to 10.00 2.36 3.10 10.00 5.46
Stafford. after 07/23/92 and before
07/01/94 (prior
borrowers).
Subsidized Stafford, Unsubsidized First disbursed on or 9.00..................... 2.36 3.10 9.00 5.46
Stafford. after 07/23/92 and before
07/01/94 (prior
borrowers).
Subsidized Stafford, Unsubsidized First disbursed on or 8.00..................... 2.36 3.10 8.00 5.46
Stafford. after 07/23/92 and before
07/01/94 (prior
borrowers).
Subsidized Stafford, Unsubsidized First disbursed on or 7.00..................... 2.36 3.10 7.00 5.46
Stafford. after 07/23/92 and before
07/01/94 (prior
borrowers).
Subsidized Stafford, Unsubsidized First disbursed on or 8.00, increasing to 10.00 2.36 3.25 10.00 5.61
Stafford. after 07/23/92 and before
10/01/92 (new borrowers).
Subsidized Stafford, Unsubsidized First disbursed on or 8.00, increasing to 10.00 2.36 3.25 10.00 5.61
Stafford. after 07/01/88 and before
07/23/92.
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[[Page 2417]]
Chart 4--Federal Consolidation Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Average of the
bond
equivalent
91-Day T-bill rates of the Interest rate
Consolidation loan component Cohort rate 05/28/19 91-day T-bills Add-on (%) Maximum 07/01/19
(%) auctioned for rate (%) through 06/30/
the quarter 20 (%)
ending 06/30/
19 (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Portion of loan that repaid loans other than Application received on/after 2.36 N/A 3.10 8.25 5.46
HEAL loans. 11/13/97 and before 10/01/98.
Portion of the loan that repaid HEAL loans... Application received on/after N/A 2.37 3.00 None 5.37
11/13/97.
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Program Authority: 20 U.S.C. 1071 et seq.
Dated: January 9, 2020.
Mark A. Brown,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2020-00570 Filed 1-14-20; 8:45 am]
BILLING CODE 4000-01-P
