Annual Notice of Interest Rates for Variable-Rate Federal Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010, 48233-48236 [2020-17397]
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48233
Federal Register / Vol. 85, No. 154 / Monday, August 10, 2020 / Notices
CHART 2—DIRECT PLUS LOANS AND DIRECT PLUS CONSOLIDATION LOANS
[Interest rates based on weekly average of one-year constant maturity treasury yield]
Loan type
Cohort
PLUS, PLUS Consolidation ..............
First disbursed before 07/01/98 .......
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
www.govinfo.gov. 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 Portable Document Format
(PDF). To use PDF you must have
Adobe Acrobat Reader, which is
available free at the site.
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Register by using the article search
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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.
Mark A. Brown,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2020–17396 Filed 8–7–20; 8:45 am]
BILLING CODE 4000–01–P
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:
jbell on DSKJLSW7X2PROD with NOTICES
Weekly average of 1-year
constant maturity Treasury
yield for last
calendar week
ending on or
before 06/26/
20
(%)
Catalog of Federal Domestic Assistance
(CFDA) Number: 84.032.
The Chief Operating Officer
for Federal Student Aid announces the
SUMMARY:
VerDate Sep<11>2014
20:31 Aug 07, 2020
Jkt 250001
0.17
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, 2020,
through June 30, 2021.
FOR FURTHER INFORMATION CONTACT:
Travis Sturlaugson, U.S. Department of
Education, 830 First Street NE, 11th
Floor, Washington, DC 20202.
Telephone: (202) 377–4174. Email:
travis.sturlaugson@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
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, 2020, through June
30, 2021. Interest rates for fixed-rate
PO 00000
Frm 00085
Fmt 4703
Sfmt 4703
Add-on
(%)
3.10
Maximum rate
(%)
Interest rate
07/01/20
through 06/30/
21
(%)
9.00
3.27
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 26,
2020, is 0.132 percent, rounded to 0.13
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, 2020, is 0.17 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
Program, the interest rate on the portion
of the Consolidation Loan that repaid
E:\FR\FM\10AUN1.SGM
10AUN1
48234
Federal Register / Vol. 85, No. 154 / Monday, August 10, 2020 / Notices
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, 2020, is 0.15 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, 2020, through
June 30, 2021. 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.
CHART 1—SUBSIDIZED FEDERAL STAFFORD LOANS, UNSUBSIDIZED FEDERAL STAFFORD LOANS, AND FEDERAL PLUS
LOANS
jbell on DSKJLSW7X2PROD with NOTICES
[Interest rate based on 91-day treasury bill]
Loan type
Cohort
Subsidized Stafford.
Unsubsidized
Stafford.
First disbursed
on/after 07/
01/98 and before 07/01/06.
0.13
PLUS .................
First disbursed
on/after 07/
01/98 and before 07/01/06.
0.13
Subsidized Stafford.
Unsubsidized
Stafford.
First disbursed
on/after 07/
01/95 and before 07/01/98.
0.13
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.
0.13
3.10
8.25
3.23.
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).
0.13
3.10
9.00
3.23.
VerDate Sep<11>2014
20:31 Aug 07, 2020
91-day
T-bill rate
05/26/20
(%)
Jkt 250001
PO 00000
Add-on (%)
1.70 (in-school,
grace,
deferment).
Maximum rate
(%)
2.30 (any other
status).
3.10
2.50 (in-school,
grace,
deferment).
Frm 00086
Fmt 4703
1.83 (in-school,
grace,
deferment).
9.00
3.10 (any other
status).
Sfmt 4703
8.25
Interest rate 07/01/20 through 06/
30/21 (%)
8.25
E:\FR\FM\10AUN1.SGM
2.43 (any other
status).
3.23.
2.63 (in-school,
grace,
deferment).
10AUN1
3.23 (any other
status).
48235
Federal Register / Vol. 85, No. 154 / Monday, August 10, 2020 / Notices
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
06/26/20
(%)
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 07/01/20
through
06/30/21
(%)
0.17
3.10
9.00
3.27
0.17
3.10
10.00
3.27
0.17
3.10
11.00
3.27
0.17
3.25
12.00
3.42
CHART 3—‘‘CONVERTED’’ VARIABLE-RATE SUBSIDIZED AND UNSUBSIDIZED FEDERAL STAFFORD LOANS
[Interest rate based on 91-day treasury bill]
Loan type
Original fixed
interest rate
(later converted
to variable rate)
(%)
Cohort
Subsidized Stafford.
Unsubsidized
Stafford.
Subsidized Stafford.
Unsubsidized
Stafford.
Subsidized Stafford.
Unsubsidized
Stafford.
Subsidized Stafford.
Unsubsidized
Stafford.
Subsidized Stafford.
Unsubsidized
Stafford.
Subsidized Stafford.
Unsubsidized
Stafford.
91-day
T-bill rate
05/26/20
(%)
Add-on
(%)
Maximum rate
(%)
Interest
rate 07/01/20
through
06/30/21
(%)
First disbursed on or after 07/23/92
and before 07/01/94 (prior borrowers).
8.00, increasing
to 10.00.
0.13
3.10
10.00
3.23
First disbursed on or after 07/23/92
and before 07/01/94 (prior borrowers).
9.00 ....................
0.13
3.10
9.00
3.23
First disbursed on or after 07/23/92
and before 07/01/94 (prior borrowers).
8.00 ....................
0.13
3.10
8.00
3.23
First disbursed on or after 07/23/92
and before 07/01/94 (prior borrowers).
7.00 ....................
0.13
3.10
7.00
3.23
First disbursed on or after 07/23/92
and before 10/01/92 (new borrowers).
8.00, increasing
to 10.00.
0.13
3.25
10.00
3.38
First disbursed on or after 07/01/88
and before 07/23/92.
8.00, increasing
to 10.00.
0.13
3.25
10.00
3.38
CHART 4—FEDERAL CONSOLIDATION LOANS
jbell on DSKJLSW7X2PROD with NOTICES
Consolidation loan
component
Portion of loan that repaid
loans other than HEAL
loans.
VerDate Sep<11>2014
91-day
T-bill rate
05/26/20
(%)
Cohort
Application received on/
after 11/13/97 and before
10/01/98.
20:31 Aug 07, 2020
Jkt 250001
PO 00000
Average of
the bond
equivalent
rates of the
91-day T-bills
auctioned
for the
quarter ending
06/30/20
(%)
Frm 00087
0.13
Fmt 4703
Sfmt 4703
Add-on
(%)
N/A
E:\FR\FM\10AUN1.SGM
3.10
Maximum rate
(%)
8.25 ................
10AUN1
Interest
rate 07/01/20
through
06/30/21
(%)
3.23
48236
Federal Register / Vol. 85, No. 154 / Monday, August 10, 2020 / Notices
CHART 4—FEDERAL CONSOLIDATION LOANS—Continued
Consolidation loan
component
Portion of the loan that repaid HEAL loans.
Application received on/
after 11/13/97.
Program Authority: 20 U.S.C. 1071 et seq.
Mark A. Brown,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2020–17397 Filed 8–7–20; 8:45 am]
BILLING CODE 4000–01–P
DEPARTMENT OF ENERGY
Finding of No Significant Impact for
the Commercial Disposal of Defense
Waste Processing Facility Recycle
Wastewater From the Savannah River
Site
Office of Environmental
Management, Department of Energy.
ACTION: Finding of No Significant
Impact.
jbell on DSKJLSW7X2PROD with NOTICES
AGENCY:
The Department of Energy
(DOE) has completed the Final
Environmental Assessment for the
Commercial Disposal of Defense Waste
SUMMARY:
VerDate Sep<11>2014
91-day
T-bill rate
05/26/20
(%)
Cohort
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
www.govinfo.gov. 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 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.
20:31 Aug 07, 2020
Jkt 250001
Average of
the bond
equivalent
rates of the
91-day T-bills
auctioned
for the
quarter ending
06/30/20
(%)
N/A
0.15
Processing Facility Recycle Wastewater
from the Savannah River Site (Final
EA). The Proposed Action in the Final
EA is the disposal of up to 10,000
gallons of stabilized (grouted) Defense
Waste Processing Facility (DWPF)
recycle wastewater from the Savannah
River Site (SRS) at a commercial lowlevel radioactive waste (LLW) disposal
facility located outside of South
Carolina and licensed by either the
Nuclear Regulatory Commission (NRC)
or an Agreement State. Based on the
information and analysis in the Final
EA, DOE intends to ship up to 8 gallons
of the DWPF recycle wastewater to the
Waste Control Specialists, LLC (WCS)
Federal Waste Facility (FWF), a licensed
commercial disposal facility located in
Andrews, Texas, for stabilization and
disposal.
ADDRESSES: This Finding of No
Significant Impact and the Final EA are
available on the DOE National
Environmental Policy Act (NEPA)
website at: https://www.energy.gov/
nepa/doeea-2115-commercial-disposaldefense-waste-processing-facilityrecycle-wastewater-savannah.
FOR FURTHER INFORMATION CONTACT:
James Joyce and/or Theresa Kliczewski,
U.S. Department of Energy, Office of
Environmental Management, Office of
Waste and Materials Management (EM–
4.2), 1000 Independence Avenue SW,
Washington, DC 20585. Emails:
James.Joyce@em.doe.gov and
Theresa.Kliczewski@em.doe.gov. Phone
number: (202)586–5000.
SUPPLEMENTARY INFORMATION:
Background
DOE prepared the Final EA in
accordance with Council on
Environmental Quality (CEQ)
regulations and DOE NEPA
implementing procedures at 40 CFR
parts 1500 through 1508 and 10 CFR
part 1021, respectively. In the Final EA,
the proposed action is the disposal of up
to 10,000 gallons of stabilized (grouted)
DWPF recycle wastewater from the SRS
H-Area Tank Farm at a commercial LLW
PO 00000
Frm 00088
Fmt 4703
Sfmt 4703
Add-on
(%)
3.00
Maximum rate
(%)
Interest
rate 07/01/20
through
06/30/21
(%)
None ..............
3.15
disposal facility located outside of
South Carolina and licensed by either
the NRC or an Agreement State under 10
CFR part 61. Treatment and disposal
alternatives for this waste are discussed
under the ‘‘Proposed Action and
Alternatives’’ section. Any proposal to
dispose of more than 10,000 gallons of
DWPF recycle wastewater would be
evaluated in a separate NEPA review.
The proposed action would be
implemented starting within 12
months 1 of this Finding of No
Significant Impact and would inform
planning activities for the three years
between the completion of the Salt
Waste Processing Facility (SWPF)
mission (estimated 2031) and DWPF
mission completion (estimated 2034).
During that three-year period, DOE will
not have the option of returning DWPF
recycle wastewater to the tank farm
(which is how SRS presently addresses
DWPF recycle wastewater) and SWPF
for processing because SWPF will have
completed its mission of treating salt
waste from the tank farms and will
undergo closure. The proposed action
enables DOE to develop an alternative
capability for stabilization and disposal
of DWPF recycle through the use of a
licensed commercial facility.
SRS generated large quantities of
liquid radioactive waste as a result of its
nuclear materials production mission.
This liquid radioactive waste has
historically been managed as high-level
radioactive waste (HLW). The waste was
placed into underground storage tanks
at SRS and consists primarily of three
physical forms: Sludge, saltcake, and
liquid supernatant. The sludge portion
in the underground tanks is being
transferred on-site to the DWPF for
vitrification in borosilicate glass to
immobilize the radioactive constituents.
The resulting vitrified waste form is
poured as molten glass into production
canisters where it cools into a solid
1 This small quantity (up to 8 gallons) would
enable DOE to initiate the transportation,
stabilization, and disposal within the next 12
months.
E:\FR\FM\10AUN1.SGM
10AUN1
]]>Agencies
[Federal Register Volume 85, Number 154 (Monday, August 10, 2020)]
[Notices]
[Pages 48233-48236]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-17397]
-----------------------------------------------------------------------
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.
-----------------------------------------------------------------------
Catalog of Federal Domestic Assistance (CFDA) Number: 84.032.
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, 2020,
through June 30, 2021.
FOR FURTHER INFORMATION CONTACT: Travis Sturlaugson, U.S. Department of
Education, 830 First Street NE, 11th Floor, Washington, DC 20202.
Telephone: (202) 377-4174. 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,
2020, through June 30, 2021. 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 26, 2020, is 0.132 percent, rounded to 0.13 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, 2020,
is 0.17 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
[[Page 48234]]
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, 2020, is 0.15
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, 2020, through June 30, 2021. 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.
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 Add-on (%) Maximum rate Interest rate 07/01/20 through 06/
T-bill rate (%) 30/21 (%)
05/26/20
(%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Subsidized Stafford........... First disbursed 0.13 1.70 (in-school, 2.30 (any other 8.25 1.83 (in-school, 2.43 (any other
Unsubsidized Stafford......... on/after 07/01/ grace, status). grace, status).
98 and before deferment). deferment).
07/01/06.
--------------------------------------------------------------------------------------------------------------------------------------------------------
PLUS.......................... First disbursed 0.13 3.10 9.00 3.23.
on/after 07/01/
98 and before
07/01/06.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Subsidized Stafford........... First disbursed 0.13 2.50 (in-school, 3.10 (any other 8.25 2.63 (in-school, 3.23 (any other
Unsubsidized Stafford......... on/after 07/01/ grace, status). grace, status).
95 and before deferment). deferment).
07/01/98.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Subsidized Stafford........... First disbursed 0.13 3.10 8.25 3.23.
Unsubsidized Stafford......... 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.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Subsidized Stafford........... First disbursed 0.13 3.10 9.00 3.23.
Unsubsidized Stafford......... 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).
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 48235]]
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 Interest rate
Treasury yield Maximum rate 07/01/20
Loan type Cohort for last Add-on (%) (%) through 06/30/
calendar week 21 (%)
ending on or
before 06/26/
20 (%)
----------------------------------------------------------------------------------------------------------------
PLUS.......................... First disbursed 0.17 3.10 9.00 3.27
on/after 07/01/
94 and before
07/01/98.
PLUS.......................... First disbursed 0.17 3.10 10.00 3.27
on/after 10/01/
92 and before
07/01/94.
SLS........................... First disbursed 0.17 3.10 11.00 3.27
on/after 10/01/
92, for a
period of
enrollment
beginning
before 07/01/94.
PLUS.......................... First disbursed 0.17 3.25 12.00 3.42
SLS........................... before 10/01/92.
----------------------------------------------------------------------------------------------------------------
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 rate 07/01/20
Loan type Cohort rate (later converted rate 05/26/20 Add-on (%) (%) through 06/30/
to variable rate) (%) (%) 21 (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Subsidized Stafford.................. First disbursed on or 8.00, increasing to 0.13 3.10 10.00 3.23
Unsubsidized Stafford................ after 07/23/92 and 10.00.
before 07/01/94 (prior
borrowers).
Subsidized Stafford.................. First disbursed on or 9.00................... 0.13 3.10 9.00 3.23
Unsubsidized Stafford................ after 07/23/92 and
before 07/01/94 (prior
borrowers).
Subsidized Stafford.................. First disbursed on or 8.00................... 0.13 3.10 8.00 3.23
Unsubsidized Stafford................ after 07/23/92 and
before 07/01/94 (prior
borrowers).
Subsidized Stafford.................. First disbursed on or 7.00................... 0.13 3.10 7.00 3.23
Unsubsidized Stafford................ after 07/23/92 and
before 07/01/94 (prior
borrowers).
Subsidized Stafford.................. First disbursed on or 8.00, increasing to 0.13 3.25 10.00 3.38
Unsubsidized Stafford................ after 07/23/92 and 10.00.
before 10/01/92 (new
borrowers).
Subsidized Stafford.................. First disbursed on or 8.00, increasing to 0.13 3.25 10.00 3.38
Unsubsidized Stafford................ after 07/01/88 and 10.00.
before 07/23/92.
--------------------------------------------------------------------------------------------------------------------------------------------------------
Chart 4--Federal Consolidation Loans
--------------------------------------------------------------------------------------------------------------------------------------------------------
Average of the
bond
equivalent
91-day T-bill rates of the Interest rate
Consolidation loan component Cohort rate 05/26/20 91-day T-bills Add-on (%) Maximum rate (%) 07/01/20
(%) auctioned for through 06/30/
the quarter 21 (%)
ending 06/30/
20 (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Portion of loan that repaid loans Application received on/ 0.13 N/A 3.10 8.25..................... 3.23
other than HEAL loans. after 11/13/97 and
before 10/01/98.
[[Page 48236]]
Portion of the loan that repaid HEAL Application received on/ N/A 0.15 3.00 None..................... 3.15
loans. after 11/13/97.
--------------------------------------------------------------------------------------------------------------------------------------------------------
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Program Authority: 20 U.S.C. 1071 et seq.
Mark A. Brown,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2020-17397 Filed 8-7-20; 8:45 am]
BILLING CODE 4000-01-P
