Annual Notice of Interest Rates for Fixed-Rate Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program, 50326-50328 [2022-17493]
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lotter on DSK11XQN23PROD with NOTICES1
50326
Federal Register / Vol. 87, No. 157 / Tuesday, August 16, 2022 / Notices
proposing an extension without change
of a currently approved collection.
DATES: Interested persons are invited to
submit comments on or before
September 15, 2022.
ADDRESSES: Written comments and
recommendations for proposed
information collection requests should
be sent within 30 days of publication of
this notice to www.reginfo.gov/public/
do/PRAMain. Find this information
collection request (ICR) by selecting
‘‘Department of Education’’ under
‘‘Currently Under Review,’’ then check
the ‘‘Only Show ICR for Public
Comment’’ checkbox. Reginfo.gov
provides two links to view documents
related to this information collection
request. Information collection forms
and instructions may be found by
clicking on the ‘‘View Information
Collection (IC) List’’ link. Supporting
statements and other supporting
documentation may be found by
clicking on the ‘‘View Supporting
Statement and Other Documents’’ link.
FOR FURTHER INFORMATION CONTACT: For
specific questions related to collection
activities, please contact Shedita Alston,
202–453–7090.
SUPPLEMENTARY INFORMATION: The
Department, in accordance with the
Paperwork Reduction Act of 1995 (PRA)
(44 U.S.C. 3506(c)(2)(A)), provides the
general public and Federal agencies
with an opportunity to comment on
proposed, revised, and continuing
collections of information. This helps
the Department assess the impact of its
information collection requirements and
minimize the public’s reporting burden.
It also helps the public understand the
Department’s information collection
requirements and provide the requested
data in the desired format. ED is
soliciting comments on the proposed
ICR that is described below. The
Department is especially interested in
public comments addressing the
following issues: (1) is this collection
necessary to the proper functions of the
Department; (2) will this information be
processed and used in a timely manner;
(3) is the estimate of burden accurate;
(4) how might the Department enhance
the quality, utility, and clarity of the
information to be collected; and (5) how
might the Department minimize the
burden of this collection on the
respondents, including through the use
of information technology. Please note
that written comments received in
response to this notice will be
considered public record.
Title of Collection: National Center for
Information and Technical Support for
Postsecondary Students with
VerDate Sep<11>2014
18:35 Aug 15, 2022
Jkt 256001
Disabilities (NCITSPSD) Program
Database.
OMB Control Number: 1840–0841.
Type of Review: An extension without
change of a currently approved
collection.
Respondents/Affected Public: State,
Local, and Tribal Governments; Private
Sector.
Total Estimated Number of Annual
Responses: 4,583.
Total Estimated Number of Annual
Burden Hours: 13,749.
Abstract: In 2021, a federal
discretionary grant was awarded via the
National Center for Information and
Technical Support for Postsecondary
Students with Disabilities Program
(NCITSPSD) to the National Center for
College Students with Disabilities
(NCCSD) at the University of Minnesota
and is authorized by Congress in the
Higher Education Opportunity Act of
2008 (777.4). The NCITSPSD program
grant was originally awarded in 2015 to
the Association on Higher Education
and Disability (AHEAD). The NCCSD
College Disability Resource Database
(CeDar) is designed to address a gap in
information about services and
accessibility for college students with
disabilities, who make up 11% of the
undergraduate population. Existing
general information about colleges is
available in the U.S. Department of
Education’s on-line College Navigator
and College Affordability and
Transparency Center, but the only
information about students with
disabilities in these databases is the
percentage of students registered with
campus disability services office. At this
time, this is the only database that
provides systemic collection of
information about campus-level,
disability-related services, access, and
activities at colleges and universities in
the United States. The NCCSD survey
asks all U.S. campuses to provide basic
information about disability services,
accessibility of campuses, and
disability-related activities that may
affect inclusion and the campus climate.
The data is available to the public in an
accessible and searchable database to
assist prospective college students and
their families in making informed
decisions during the college search
process. Because the database is public,
researchers and policy makers are able
to utilize the data to gather information
about disability and higher education in
systemic ways.
PO 00000
Frm 00042
Fmt 4703
Sfmt 4703
Dated: August 11, 2022.
Kun Mullan,
PRA Coordinator, Strategic Collections and
Clearance Governance and Strategy Division,
Office of Chief Data Officer, Office of
Planning, Evaluation and Policy
Development.
[FR Doc. 2022–17559 Filed 8–15–22; 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.
AGENCY:
The Chief Operating Officer
for Federal Student Aid announces the
interest rates for Federal Direct Stafford/
Ford Loans (Direct Subsidized Loans),
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, Assistance
Listing Number 84.268, with first
disbursement dates on or after July 1,
2022, and before July 1, 2023.
FOR FURTHER INFORMATION CONTACT:
Travis Sturlaugson, U.S. Department of
Education, 830 First Street NE, 11th
Floor, Washington, DC 20202.
Telephone: (202) 377–4174 or by email:
travis.sturlaugson@ed.gov.
If you are deaf, hard of hearing, or
have a speech disability and wish to
access telecommunications relay
services, please dial 7–1–1.
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
SUMMARY:
E:\FR\FM\16AUN1.SGM
16AUN1
50327
Federal Register / Vol. 87, No. 157 / Tuesday, August 16, 2022 / Notices
(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
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,
2022, and before July 1, 2023, 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
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 11, 2022, the United States
Treasury Department held a 10-year
Treasury note auction that resulted in a
high yield of 2.943 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,
2022, and before July 1, 2023.
CHART 1—DIRECT SUBSIDIZED LOANS, DIRECT UNSUBSIDIZED LOANS, AND DIRECT PLUS LOANS FIRST DISBURSED ON OR
AFTER 07/01/2022 AND BEFORE 07/01/2023
10-year
treasury
note high yield
05/12/2021
(%)
Add-on
(%)
Maximum rate
(%)
Fixed interest
rate
(%)
Loan type
Borrower type
Direct Subsidized Loans ....
Direct Unsubsidized Loans
Direct Unsubsidized
Loans 1.
Direct PLUS Loans ............
Undergraduate students .................................
2.943
2.05
8.25
4.99
Graduate and professional students ...............
2.943
3.60
9.50
6.54
Parents of dependent undergraduate students.
Graduate and professional students ...............
2.943
4.60
10.50
7.54
1 Graduate
and professional students are not eligible to receive Direct Subsidized Loans.
For reference, Chart 2 compares the
fixed interest rates for Direct Subsidized
Loans, Direct Unsubsidized Loans, and
Direct PLUS Loans first disbursed
during the period July 1, 2022, through
June 30, 2023, with the fixed interest
rates for loans first disbursed during
each previous 12-month period from
July 1, 2013, through June 30, 2022.
CHART 2—DIRECT SUBSIDIZED LOANS, DIRECT UNSUBSIDIZED LOANS, AND DIRECT PLUS LOANS FIRST DISBURSED ON OR
AFTER 07/01/2013 AND BEFORE 07/01/2023
First disbursed
lotter on DSK11XQN23PROD with NOTICES1
On/after
07/01/2022
07/01/2021
07/01/2020
07/01/2019
07/01/2018
07/01/2017
07/01/2016
07/01/2015
07/01/2014
07/01/2013
........................
........................
........................
........................
........................
........................
........................
........................
........................
........................
VerDate Sep<11>2014
18:35 Aug 15, 2022
Fixed interest rates
(%)
Direct
subsidized
loans
Direct
unsubsidized
loans
(undergraduate
students)
Before
07/01/2023
07/01/2022
07/01/2021
07/01/2020
07/01/2019
07/01/2018
07/01/2017
07/01/2016
07/01/2015
07/01/2014
Jkt 256001
PO 00000
Direct
unsubsidized
loans
(graduate or
professional
students)
4.99
3.73
2.75
4.53
5.05
4.45
3.76
4.29
4.66
3.86
Frm 00043
6.54
5.28
4.30
6.08
6.60
6.00
5.31
5.84
6.21
5.41
Fmt 4703
Sfmt 4703
Federal Register notice
Direct PLUS
loans
7.54
6.28
5.30
7.08
7.60
7.00
6.31
6.84
7.21
6.41
N/A.
86 FR
85 FR
85 FR
83 FR
82 FR
81 FR
80 FR
79 FR
78 FR
E:\FR\FM\16AUN1.SGM
44003 (August 11, 2021).
48229 (August 10, 2020).
2417 (January 15, 2020).
53864 (October 25, 2018).
29062 (June 27, 2017).
38159 (June 13, 2016).
42488 (July 17, 2015).
37301 (July 1, 2014).
59011 (September 25, 2013).
16AUN1
50328
Federal Register / Vol. 87, No. 157 / Tuesday, August 16, 2022 / Notices
Fixed-Rate Direct Subsidized Loans,
Direct Unsubsidized Loans, and Direct
PLUS Loans First Disbursed on or After
July 1, 2006, and Before July 2, 2013
Direct Subsidized Loans, Direct
Unsubsidized Loans, and Direct PLUS
Loans first disbursed on or after July 1,
2006, and before July 1, 2013, have fixed
interest rates that are specified in
section 455(b) of the HEA (20 U.S.C.
1087e(b)). Chart 3 shows the interest
rates for these loans.
CHART 3—DIRECT SUBSIDIZED LOANS, DIRECT UNSUBSIDIZED LOANS, AND DIRECT PLUS LOANS FIRST DISBURSED ON OR
AFTER 07/01/2006 AND BEFORE 07/01/2013
Loan type
Borrower type
Subsidized ..............................
Subsidized ..............................
Subsidized ..............................
Subsidized ..............................
Subsidized ..............................
Subsidized ..............................
Unsubsidized ..........................
PLUS .......................................
Undergraduate students .........................................................
Undergraduate students .........................................................
Undergraduate students .........................................................
Undergraduate students .........................................................
Undergraduate students .........................................................
Graduate or professional students .........................................
Undergraduate and graduate or professional students .........
Graduate or professional students and parents of dependent undergraduate students.
First disbursed
on/after
First disbursed
before
07/01/2011
07/01/2010
07/01/2009
07/01/2008
07/01/2006
07/01/2006
07/01/2006
07/01/2006
07/01/2013
07/01/2011
07/01/2010
07/01/2009
07/01/2008
2 07/01/2012
07/01/2013
07/01/2013
Interest rate
(%)
3.40
4.50
5.60
6.00
6.80
6.80
6.80
7.90
2 Effective for loan periods beginning on or after July 1, 2012, graduate and professional students are no longer eligible to receive Direct Subsidized Loans.
Fixed-Rate Direct Consolidation Loans
Section 455(b) of the HEA specifies
that all Direct Consolidation Loans for
which the application was received on
or after February 1, 1999, have a fixed
interest rate that is equal to the
weighted average of the interest rates on
the loans consolidated, rounded to the
nearest higher one-eighth of one
percent. For Direct Consolidation Loans
for which the application was received
on or after February 1, 1999, and before
July 1, 2013, the interest rate may not
exceed 8.25 percent. However, under
section 455(b) of the HEA, the 8.25
percent interest rate cap does not apply
to Direct Consolidation Loans made
based on applications received on or
after July 1, 2013. Chart 4 shows the
interest rates for fixed-rate Direct
Consolidation Loans.
CHART 4—DIRECT CONSOLIDATION LOANS MADE BASED ON APPLICATIONS RECEIVED ON OR AFTER 02/01/1999
Interest rate
(%)
On/after 07/01/2013 ....................................................................
Weighted average of the interest rates on the loans consolidated, rounded to the nearest higher one-eighth of one percent.
(same as above) ........................................................................
On/after 02/01/1999 and before 07/01/2013 ..............................
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Maximum
interest rate
(%)
Application received
Accessible Format: On request to the
program contact person listed under FOR
FURTHER INFORMATION CONTACT,
individuals with disabilities can obtain
this document in an accessible format.
The Department will provide the
requestor with an accessible format that
may include Rich Text Format (RTF) or
text format (txt), a thumb drive, an MP3
file, braille, large print, audiotape, or
compact disc, or other accessible format.
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
VerDate Sep<11>2014
18:35 Aug 15, 2022
Jkt 256001
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.
Richard Cordray,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2022–17493 Filed 8–15–22; 8:45 am]
BILLING CODE 4000–01–P
PO 00000
None
8.25
DEPARTMENT OF EDUCATION
National Advisory Committee on
Institutional Quality and Integrity
(NACIQI)
Department of Education,
National Advisory Committee on
Institutional Quality, and Integrity
(NACIQI).
AGENCY:
Request for nominations for
appointment to serve on the National
Advisory Committee on Institutional
Quality and Integrity (NACIQI).
ACTION:
Secretary of Education,
Miguel A. Cardona, Ed.D., is seeking
nomination(s) for appointment to fill
one member vacancy on the NACIQI
with a term of service that will expire
on September 30, 2025.
SUMMARY:
Nominations must be received
no later than September 15, 2022.
DATES:
Frm 00044
Fmt 4703
Sfmt 4703
E:\FR\FM\16AUN1.SGM
16AUN1
]]>Agencies
[Federal Register Volume 87, Number 157 (Tuesday, August 16, 2022)]
[Notices]
[Pages 50326-50328]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-17493]
-----------------------------------------------------------------------
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates for Fixed-Rate Federal Student
Loans Made Under the William D. Ford Federal Direct Loan Program
AGENCY: Federal Student Aid, Department of Education.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Chief Operating Officer for Federal Student Aid announces
the interest rates for Federal Direct Stafford/Ford Loans (Direct
Subsidized Loans), 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, Assistance Listing Number 84.268, with first disbursement
dates on or after July 1, 2022, and before July 1, 2023.
FOR FURTHER INFORMATION CONTACT: Travis Sturlaugson, U.S. Department of
Education, 830 First Street NE, 11th Floor, Washington, DC 20202.
Telephone: (202) 377-4174 or by email: [email protected].
If you are deaf, hard of hearing, or have a speech disability and
wish to access telecommunications relay services, please dial 7-1-1.
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
[[Page 50327]]
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, 2022, and before July 1,
2023, 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 10-year Treasury notes auctioned at the final auction
held before June 1 of that 12-month period, plus a statutory add-on
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 11, 2022, the United States Treasury Department held a 10-
year Treasury note auction that resulted in a high yield of 2.943
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, 2022, and before July 1, 2023.
Chart 1--Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Plus Loans First Disbursed on or After 07/01/2022 and Before 07/01/2023
--------------------------------------------------------------------------------------------------------------------------------------------------------
10-year
treasury note Maximum rate Fixed interest
Loan type Borrower type high yield 05/ Add-on (%) (%) rate (%)
12/2021 (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Direct Subsidized Loans........................ Undergraduate students................. 2.943 2.05 8.25 4.99
Direct Unsubsidized Loans......................
Direct Unsubsidized Loans \1\.................. Graduate and professional students..... 2.943 3.60 9.50 6.54
Direct PLUS Loans.............................. Parents of dependent undergraduate 2.943 4.60 10.50 7.54
students.
Graduate and professional students.....
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Graduate and professional students are not eligible to receive Direct Subsidized Loans.
For reference, Chart 2 compares the fixed interest rates for Direct
Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans
first disbursed during the period July 1, 2022, through June 30, 2023,
with the fixed interest rates for loans first disbursed during each
previous 12-month period from July 1, 2013, through June 30, 2022.
Chart 2--Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Plus Loans First Disbursed on or After 07/01/2013 and Before 07/01/2023
--------------------------------------------------------------------------------------------------------------------------------------------------------
First disbursed Fixed interest rates (%)
---------------------------------------------------------------------------------------------------
Direct
subsidized Direct
loans Direct unsubsidized Federal Register notice
On/after Before unsubsidized loans (graduate Direct PLUS
loans or professional loans
(undergraduate students)
students)
--------------------------------------------------------------------------------------------------------------------------------------------------------
07/01/2022.................... 07/01/2023 4.99 6.54 7.54 N/A.
07/01/2021.................... 07/01/2022 3.73 5.28 6.28 86 FR 44003 (August 11, 2021).
07/01/2020.................... 07/01/2021 2.75 4.30 5.30 85 FR 48229 (August 10, 2020).
07/01/2019.................... 07/01/2020 4.53 6.08 7.08 85 FR 2417 (January 15, 2020).
07/01/2018.................... 07/01/2019 5.05 6.60 7.60 83 FR 53864 (October 25, 2018).
07/01/2017.................... 07/01/2018 4.45 6.00 7.00 82 FR 29062 (June 27, 2017).
07/01/2016.................... 07/01/2017 3.76 5.31 6.31 81 FR 38159 (June 13, 2016).
07/01/2015.................... 07/01/2016 4.29 5.84 6.84 80 FR 42488 (July 17, 2015).
07/01/2014.................... 07/01/2015 4.66 6.21 7.21 79 FR 37301 (July 1, 2014).
07/01/2013.................... 07/01/2014 3.86 5.41 6.41 78 FR 59011 (September 25, 2013).
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 50328]]
Fixed-Rate Direct Subsidized Loans, Direct Unsubsidized Loans, and
Direct PLUS Loans First Disbursed on or After July 1, 2006, and Before
July 2, 2013
Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS
Loans first disbursed on or after July 1, 2006, and before July 1,
2013, have fixed interest rates that are specified in section 455(b) of
the HEA (20 U.S.C. 1087e(b)). Chart 3 shows the interest rates for
these loans.
Chart 3--Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Plus Loans First Disbursed on or After
07/01/2006 and Before 07/01/2013
----------------------------------------------------------------------------------------------------------------
First First
Loan type Borrower type disbursed on/ disbursed Interest rate
after before (%)
----------------------------------------------------------------------------------------------------------------
Subsidized......................... Undergraduate students..... 07/01/2011 07/01/2013 3.40
Subsidized......................... Undergraduate students..... 07/01/2010 07/01/2011 4.50
Subsidized......................... Undergraduate students..... 07/01/2009 07/01/2010 5.60
Subsidized......................... Undergraduate students..... 07/01/2008 07/01/2009 6.00
Subsidized......................... Undergraduate students..... 07/01/2006 07/01/2008 6.80
Subsidized......................... Graduate or professional 07/01/2006 \2\ 07/01/2012 6.80
students.
Unsubsidized....................... Undergraduate and graduate 07/01/2006 07/01/2013 6.80
or professional students.
PLUS............................... Graduate or professional 07/01/2006 07/01/2013 7.90
students and parents of
dependent undergraduate
students.
----------------------------------------------------------------------------------------------------------------
\2\ Effective for loan periods beginning on or after July 1, 2012, graduate and professional students are no
longer eligible to receive Direct Subsidized Loans.
Fixed-Rate Direct Consolidation Loans
Section 455(b) of the HEA specifies that all Direct Consolidation
Loans for which the application was received on or after February 1,
1999, have a fixed interest rate that is equal to the weighted average
of the interest rates on the loans consolidated, rounded to the nearest
higher one-eighth of one percent. For Direct Consolidation Loans for
which the application was received on or after February 1, 1999, and
before July 1, 2013, the interest rate may not exceed 8.25 percent.
However, under section 455(b) of the HEA, the 8.25 percent interest
rate cap does not apply to Direct Consolidation Loans made based on
applications received on or after July 1, 2013. Chart 4 shows the
interest rates for fixed-rate Direct Consolidation Loans.
Chart 4--Direct Consolidation Loans Made Based on Applications Received
on or After 02/01/1999
------------------------------------------------------------------------
Maximum
Application received Interest rate (%) interest rate
(%)
------------------------------------------------------------------------
On/after 07/01/2013............ Weighted average of the None
interest rates on the
loans consolidated,
rounded to the nearest
higher one-eighth of
one percent.
On/after 02/01/1999 and before (same as above)........ 8.25
07/01/2013.
------------------------------------------------------------------------
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Program Authority: 20 U.S.C. 1087, et seq.
Richard Cordray,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2022-17493 Filed 8-15-22; 8:45 am]
BILLING CODE 4000-01-P
