Annual Notice of Interest Rates for Fixed-Rate Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program, 68878-68880 [2024-19309]
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68878
Federal Register / Vol. 89, No. 167 / Wednesday, August 28, 2024 / Notices
(v) Prior Related Cases, if any: None.
(vi) Sales Commission, Fee, etc., Paid,
Offered, or Agreed to be Paid: None.
(vii) Sensitivity of Technology
Contained in the Defense Article or
Defense Services Proposed to be Sold:
None.
(viii) Date Report Delivered to
Congress: February 14, 2023.
* As defined in Section 47(6) of the
Arms Export Control Act.
Policy Justification
khammond on DSKJM1Z7X2PROD with NOTICES
Kuwait—Medical Information System
for Kuwait Military Medical Command
(KMMC)
The Government of Kuwait has
requested to buy planning, integration,
implementation, and maintenance of a
Medical Information System for its
KMMC that consists of: Health
Information Systems Information
Technology (IT) hardware and software,
IT infrastructure, implementation of
life-cycle management practices,
training, maintenance, support and
warranty services, along with U.S.
Government and contractor engineering,
technical and logistics support services;
and other related elements of logistical
and program support. The estimated
total cost is $250 million.
This proposed sale will support the
foreign policy and national security
objectives of the United States by
helping to improve the infrastructure of
a Major Non-NATO ally that has been
and continues to be an important force
for political stability and economic
progress in the Middle East.
This proposed sale will improve
Kuwait’s capability to provide greater
health security for its KMMC
infrastructure. Kuwait will use the
enhanced capability to strengthen its
medical services management. Kuwait
will have no difficulty absorbing this
infrastructure, support, and associated
services into its armed forces.
The proposed sale of this equipment
and support will not alter the basic
military balance in the region.
The principal contractor will be the
Cerner Corporation, Kansas City,
Missouri. There are no known offset
agreements proposed in connection
with this potential sale.
Implementation of this proposed sale
will require the assignment of as many
as fifteen (15) additional U.S.
Government or U.S. contractor
representatives to Kuwait for a duration
of up to seven (7) years to provide
VerDate Sep<11>2014
18:13 Aug 27, 2024
Jkt 262001
systems planning, implementation,
management, and oversight.
There will be no adverse impact on
U.S. defense readiness as a result of this
proposed sale.
[FR Doc. 2024–19351 Filed 8–27–24; 8:45 am]
BILLING CODE 6001–FR–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,
2024, and before July 1, 2025.
FOR FURTHER INFORMATION CONTACT:
Travis Sturlaugson, U.S. Department of
Education, 830 First Street NE,
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
SUMMARY:
PO 00000
Frm 00030
Fmt 4703
Sfmt 4703
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,
2024, and before July 1, 2025, 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, 2024, the United States
Treasury Department held a 10-year
Treasury note auction that resulted in a
high yield of 4.483 percent, rounded to
4.48 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,
2024, and before July 1, 2025.
E:\FR\FM\28AUN1.SGM
28AUN1
68879
Federal Register / Vol. 89, No. 167 / Wednesday, August 28, 2024 / Notices
CHART 1—DIRECT SUBSIDIZED LOANS, DIRECT UNSUBSIDIZED LOANS, AND DIRECT PLUS LOANS FIRST DISBURSED ON
OR AFTER 07/01/2024 AND BEFORE 07/01/2025
10-year
treasury note
high yield
05/8/2024
(%)
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 ...................
4.48
2.05
8.25
6.53
Graduate and professional students
Parents
of
dependent
undergraduate students; Graduate and
professional students.
4.48
4.48
3.60
4.60
9.50
10.50
8.08
9.08
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, 2024, through
June 30, 2025, with the fixed interest
rates for loans first disbursed during
each previous 12-month period from
July 1, 2013, through June 30, 2024.
CHART 2—DIRECT SUBSIDIZED LOANS, DIRECT UNSUBSIDIZED LOANS, AND DIRECT PLUS LOANS FIRST DISBURSED ON
OR AFTER 07/01/2013 AND BEFORE 07/01/2025
First disbursed
On/after
07/01/2024
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
07/01/2013
Fixed interest rates
(%)
Before
................
................
................
................
................
................
................
................
................
................
................
................
Direct Subsidized
Loans;
Direct Unsubsidized
Loans
(undergraduate
students)
Direct Unsubsidized
Loans
(graduate or
professional
students)
6.53
5.50
4.99
3.73
2.75
4.53
5.05
4.45
3.76
4.29
4.66
3.86
8.08
7.05
6.54
5.28
4.30
6.08
6.60
6.00
5.31
5.84
6.21
5.41
07/01/2025
07/01/2024
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
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
Federal Register Notice
Direct PLUS
loans
9.08
8.05
7.54
6.28
5.30
7.08
7.60
7.00
6.31
6.84
7.21
6.41
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
N/A.
88 FR
87 FR
86 FR
85 FR
85 FR
83 FR
82 FR
81 FR
80 FR
79 FR
78 FR
82863 (November 27, 2023).
50326 (August 16, 2022).
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).
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.
khammond on DSKJM1Z7X2PROD with NOTICES
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.
1 Graduate and professional students are not
eligible to receive Direct Subsidized Loans.
VerDate Sep<11>2014
18:13 Aug 27, 2024
Jkt 262001
2 Effective for loan periods beginning on or after
July 1, 2012, graduate and professional students are
PO 00000
Frm 00031
Fmt 4703
Sfmt 4703
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
(%)
no longer eligible to receive Direct Subsidized
Loans.
E:\FR\FM\28AUN1.SGM
28AUN1
3.40
4.50
5.60
6.00
6.80
6.80
6.80
7.90
68880
Federal Register / Vol. 89, No. 167 / Wednesday, August 28, 2024 / Notices
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 ..........
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
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You may also access documents of the
Department published in the Federal
Register by using the article search
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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. 1087, et
seq.
Denise Carter,
Acting Chief Operating Officer, Federal
Student Aid.
khammond on DSKJM1Z7X2PROD with NOTICES
Maximum
interest rate
(%)
Application received
[FR Doc. 2024–19309 Filed 8–27–24; 8:45 am]
BILLING CODE 4000–01–P
VerDate Sep<11>2014
18:13 Aug 27, 2024
Jkt 262001
DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates for
Variable-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 Loan), Assistance Listing
Number 84.268, with first disbursement
dates before July 1, 2006, and for
Federal Direct Consolidation Loans
(Direct Consolidation Loans) for which
the application was received before
February 1, 1999. The rates announced
in this notice are in effect for the period
July 1, 2024, through June 30, 2025.
FOR FURTHER INFORMATION CONTACT:
Travis Sturlaugson, U.S. Department of
Education, 830 First Street NE,
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 before July 1,
SUMMARY:
PO 00000
Frm 00032
Fmt 4703
Sfmt 4703
None
8.25
2006, and Direct Consolidation Loans
for which the application was received
before February 1, 1999, have variable
interest rates. For these loans, 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.
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.
This notice announces the interest
rates for variable-rate Direct Loans that
will apply during the period from July
1, 2024, through June 30, 2025. Interest
rate information for fixed-rate Direct
Loans is announced in a separate notice
published in the Federal Register.
Interest rates for variable-rate Direct
Loans are determined in accordance
with formulas specified in section
455(b) of the Higher Education Act of
1965, as amended (HEA) (20 U.S.C.
1087e(b)). The formulas vary depending
on loan type and when the loan was
first disbursed or, for certain Direct
Consolidation Loans, when the
application for the loan was received.
The HEA specifies a maximum interest
rate for these loan types. If the interest
rate formula results in a rate that
exceeds the statutory maximum rate, the
rate is the statutory maximum rate.
Variable-Rate Direct Subsidized Loans,
Direct Unsubsidized Loans, and Direct
PLUS Loans
For Direct Subsidized Loans and
Direct Unsubsidized Loans with first
disbursement dates before July 1, 2006,
and for Direct PLUS Loans with first
disbursement dates on or after July 1,
1998, and before July 1, 2006, the
interest rate is equal to the lesser of—
E:\FR\FM\28AUN1.SGM
28AUN1
]]>Agencies
[Federal Register Volume 89, Number 167 (Wednesday, August 28, 2024)]
[Notices]
[Pages 68878-68880]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-19309]
=======================================================================
-----------------------------------------------------------------------
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, 2024, and before July 1, 2025.
FOR FURTHER INFORMATION CONTACT: Travis Sturlaugson, U.S. Department of
Education, 830 First Street NE, 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
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, 2024, and before July 1,
2025, 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 8, 2024, the United States Treasury Department held a 10-
year Treasury note auction that resulted in a high yield of 4.483
percent, rounded to 4.48 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, 2024, and before July 1, 2025.
[[Page 68879]]
Chart 1--Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First Disbursed on or After
07/01/2024 and Before 07/01/2025
----------------------------------------------------------------------------------------------------------------
10-year
treasury note Maximum rate Fixed interest
Loan type Borrower type high yield 05/ Add-on (%) (%) rate (%)
8/2024 (%)
----------------------------------------------------------------------------------------------------------------
Direct Subsidized Loans; Undergraduate 4.48 2.05 8.25 6.53
Direct Unsubsidized Loans. students.
Direct Unsubsidized Loans \1\. Graduate and 4.48 3.60 9.50 8.08
professional
students.
Direct PLUS Loans............. Parents of 4.48 4.60 10.50 9.08
dependent
undergraduate
students;
Graduate and
professional
students.
----------------------------------------------------------------------------------------------------------------
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, 2024, through June 30, 2025,
with the fixed interest rates for loans first disbursed during each
previous 12-month period from July 1, 2013, through June 30, 2024.
---------------------------------------------------------------------------
\1\ Graduate and professional students are not eligible to
receive Direct Subsidized Loans.
\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.
Chart 2--Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First Disbursed on or After 07/01/2013 and Before 07/01/2025
--------------------------------------------------------------------------------------------------------------------------------------------------------
First disbursed Fixed interest rates (%)
-----------------------------------------------------------------------------------------------------
Direct Subsidized Direct
Loans; Direct Unsubsidized Loans Federal Register Notice
On/after Before Unsubsidized Loans (graduate or Direct PLUS
(undergraduate professional loans
students) students)
--------------------------------------------------------------------------------------------------------------------------------------------------------
07/01/2024.................. 07/01/2025 6.53 8.08 9.08 N/A.
07/01/2023.................. 07/01/2024 5.50 7.05 8.05 88 FR 82863 (November 27, 2023).
07/01/2022.................. 07/01/2023 4.99 6.54 7.54 87 FR 50326 (August 16, 2022).
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).
--------------------------------------------------------------------------------------------------------------------------------------------------------
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.
----------------------------------------------------------------------------------------------------------------
[[Page 68880]]
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 None
the interest rates
on the loans
consolidated,
rounded to the
nearest higher one-
eighth of one
percent.
On/after 02/01/1999 and before 07/ (same as above)..... 8.25
01/2013.
------------------------------------------------------------------------
Accessible Format: On request to the program contact person listed
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Electronic Access to This Document: The official version of this
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You may also access documents of the Department published in the
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Program Authority: 20 U.S.C. 1087, et seq.
Denise Carter,
Acting Chief Operating Officer, Federal Student Aid.
[FR Doc. 2024-19309 Filed 8-27-24; 8:45 am]
BILLING CODE 4000-01-P
