81_FR_68194 81 FR 68003 - Annual Notice of Interest Rates for Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program Prior to July 1, 2013

81 FR 68003 - Annual Notice of Interest Rates for Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program Prior to July 1, 2013

DEPARTMENT OF EDUCATION

Federal Register Volume 81, Issue 191 (October 3, 2016)

Page Range68003-68005
FR Document2016-23767

In accordance with section 455(b)(10) of the Higher Education Act of 1965, as amended, (HEA), (20 U.S.C. 1087e(b)(10)) the Chief Operating Officer for Federal Student Aid announces the interest rates for loans made under the William D. Ford Federal Direct Loan (Direct Loan) Program prior to July 1, 2013. For loans that have a variable interest rate, the rates announced in this notice are in effect for the period July 1, 2016 through June 30, 2017. The Chief Operating Officer takes this action to give notice of Direct Loan interest rates to the public.

Federal Register, Volume 81 Issue 191 (Monday, October 3, 2016)
[Federal Register Volume 81, Number 191 (Monday, October 3, 2016)]
[Notices]
[Pages 68003-68005]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-23767]


-----------------------------------------------------------------------

DEPARTMENT OF EDUCATION


Annual Notice of Interest Rates for Federal Student Loans Made 
Under the William D. Ford Federal Direct Loan Program Prior to July 1, 
2013

AGENCY: Federal Student Aid, Department of Education.

ACTION: Notice.

-----------------------------------------------------------------------

    Catalog of Federal Domestic Assistance (CFDA) Number: 84.268.


DATES: This notice is effective October 3, 2016.
SUMMARY: In accordance with section 455(b)(10) of the Higher Education 
Act of 1965, as amended, (HEA), (20 U.S.C. 1087e(b)(10)) the Chief 
Operating Officer for Federal Student Aid announces the interest rates 
for loans made under the William D. Ford Federal Direct Loan (Direct 
Loan) Program prior to July 1, 2013. For loans that have a variable 
interest rate, the rates announced in this notice are in effect for the 
period July 1, 2016 through June 30, 2017. The Chief Operating Officer 
takes this action to give notice of Direct Loan interest rates to the 
public.

FOR FURTHER INFORMATION CONTACT: Rene Tiongquico, U.S. Department of 
Education, 830 First Street NE., 11th Floor, Washington, DC 20202. 
Telephone: (202) 377-4270 or by email: [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.
    Individuals with disabilities can obtain this document in an 
accessible format (e.g., Braille, large print, audiotape, or compact 
disc) on request to the contact person listed under FOR FURTHER 
INFORMATION CONTACT.

SUPPLEMENTARY INFORMATION: Section 455(b) of the Higher Education Act 
of 1965, as amended (HEA) (20 U.S.C. 1087e(b)), specifies the interest 
rates charged to borrowers for Federal Direct Subsidized Stafford/Ford 
Loans (Direct Subsidized Loans), Federal Direct Unsubsidized Stafford/
Ford Loans (Direct Unsubsidized Loans), Federal Direct PLUS Loans 
(Direct PLUS Loans), and Federal Direct Consolidation Loans (Direct 
Consolidation Loans), collectively referred to as ``Direct Loans.'' The 
interest rates for Direct Loans may be variable or fixed.

Variable-Rate Direct Loans

    Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS 
Loans that were first disbursed before July 1, 2006, and Direct 
Consolidation Loans for which the application was received before 
February 1, 1999, have variable interest rates that are determined each 
year in accordance with formulas specified in section 455(b) of the 
HEA. The variable interest rate formula that applies to a particular 
loan depends on the date of the first disbursement of the loan or, for 
some Direct Consolidation Loans, the date the application for the loan 
was received. The variable rates are determined annually and are 
effective for each 12-month period beginning July 1 of one year and 
ending June 30 of the following year.
    Except for Direct PLUS Loans that were first disbursed before July 
1, 1998, the variable interest rates for most types of Direct Loans are 
based on formulas that use the bond equivalent rates of the 91-day 
Treasury bills auctioned at the final auction held before June 1 of 
each year, plus a statutory add-on percentage. In each case, the 
calculated rate is capped by a maximum interest rate. The bond 
equivalent rate of the 91-day Treasury bills auctioned on May 31, 2016, 
which is used to calculate the interest rates on these loans, is 0.345, 
rounded up to 0.35 percent.
    The interest rate for Direct PLUS Loans that were first disbursed 
on or after July 1, 1994, and before July 1, 1998, is based on the 
weekly average of the one-year constant maturity Treasury yield, as 
published by the Board of Governors of the Federal Reserve System on 
the last day of the calendar week ending on or before June 26 of each 
year, plus a statutory add-on percentage. The calculated rate is capped 
by a maximum interest rate. The weekly average of the one-year constant 
maturity Treasury yield published on June 27, 2016, which is used to 
calculate the interest rate on these loans, is 0.55 percent.

Charts 1 Through 4 in This Notice Show the Interest Rates for Variable-Rate Direct Loans That Are in Effect for the Period July 1, 2016 Through June 30,
                                                                          2017
--------------------------------------------------------------------------------------------------------------------------------------------------------
                         Cohort                                             Index rate                Margin                        Total rate
---------------------------------------------------------                -------------------------------------------------------------------------------
                                                           Maximum rate                     In-school,                      In-school,
   First disbursed on  or after        First disbursed          (%)       91-Day  T-Bill      grace,         All other        grace,         All other
                                           before                            rate (%)        deferment      periods (%)    deferment (%)    periods (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994..........................  7/1/1995............            8.25            0.35            3.10            3.10            3.45            3.45
7/1/1995..........................  7/1/1998............            8.25            0.35            2.50            3.10            2.85            3.45
7/1/1998..........................  7/1/2006............            8.25            0.35            1.70            2.30            2.05            2.65
--------------------------------------------------------------------------------------------------------------------------------------------------------


                       Chart 2--Variable-Rate Direct PLUS Loans Interest Rates in Effect for the Period 7/1/2016 Through 6/30/2017
--------------------------------------------------------------------------------------------------------------------------------------------------------
                              Cohort                                                             Index rate
-------------------------------------------------------------------                --------------------------------------
                                                                     Maximum rate                       1-Year constant     Margin (%)    Total rate (%)
      First disbursed on  or after        First disbursed  before         (%)         91-Day T-Bill    treasury maturity
                                                                                         rate (%)             (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994...............................  7/1/1998.................            9.00  .................               0.55            3.10            3.65
7/1/1998...............................  7/1/2006.................            9.00               0.35  .................            3.10            3.45
--------------------------------------------------------------------------------------------------------------------------------------------------------


[[Page 68004]]


 Chart 3--Variable-Rate Direct Subsidized and Direct Unsubsidized Consolidation Loans Interest Rates in Effect for the Period 7/1/2016 Through 6/30/2017
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                  Cohort                                                  Index rate           Margin                  Total rate
---------------------------------------------------------------------------             ----------------------------------------------------------------
                                                                            Maxmum rate                In-school,                In-school,
                                                                                (%)       91-Day  T-     grace,     All other      grace,     All other
        First disbursed on or after              First disbursed before                   Bill rate    deferment   periods (%)   deferment   periods (%)
                                                                                             (%)          (%)                       (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994...................................  7/1/1995.....................         8.25         0.35         3.10         3.10         3.45         3.45
7/1/1995...................................  7/1/1998.....................         8.25         0.35         2.50         3.10         2.85         3.45
7/1/1998...................................  10/1/1998....................         8.25         0.35         1.70         2.30         2.05         2.65
--------------------------------------------------------------------------------------------------------------------------------------------------------
First disbursed on or                        Application received.........
after                                        before.......................
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1998..................................  10/1/1998....................         8.25         0.35         1.70         2.30         2.05        2.65%
--------------------------------------------------------------------------------------------------------------------------------------------------------
Application received on or                   Application received.........
after                                        before.......................
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1998..................................  2/1/1999.....................         8.25         0.35         2.30         2.30         2.65         2.65
--------------------------------------------------------------------------------------------------------------------------------------------------------


                Chart 4--Variable-Rate Direct PLUS Consolidation Loans Interest Rates in Effect for the Period 7/1/2016 Through 6/30/2017
--------------------------------------------------------------------------------------------------------------------------------------------------------
                            Cohort                                                 Index rate                  Margin                  Total rate
--------------------------------------------------------------             -----------------------------------------------------------------------------
                                                                                            1-Year
                                                                 Maximum     91-Day  T-    constant    In-school,                In-school,
     First disbursed on or after       First disbursed before    rate (%)    Bill rate     treasury      grace,     All other      race,      All other
                                                                                (%)        maturity    deferment   periods (%)   deferment   periods (%)
                                                                                             (%)          (%)                       (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
7/1/1994............................  7/1/1998...............         9.00  ...........         0.55         3.10         3.10         3.65         3.65
7/1/1998............................  10/1/1998..............         9.00         0.35  ...........         3.10         3.10         3.45         3.45
--------------------------------------------------------------------------------------------------------------------------------------------------------
First disbursed on or after           Application received
                                       before.
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1998...........................  10/1/1998..............         9.00         0.35  ...........         3.10         3.10         3.45         3.45
--------------------------------------------------------------------------------------------------------------------------------------------------------
Application received                  Application received...
on or after                           before.................
--------------------------------------------------------------------------------------------------------------------------------------------------------
10/1/1998...........................  2/1/1999...............         8.25         0.35  ...........         2.30         2.30         2.65         2.65
--------------------------------------------------------------------------------------------------------------------------------------------------------

Fixed-Rate Direct Loans

    Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS 
Loans first disbursed on or after July 1, 2006 and before July 1, 2013, 
and Direct Consolidation Loans for which the application was received 
on or after February 1, 1999, have fixed interest rates.
    Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS 
Loans first disbursed on or after July 1, 2006 and before July 1, 2013 
have various fixed interest rates that are specified in section 
455(b)(7) of the HEA. These fixed rates are shown in Chart 5.
    Direct Consolidation Loans for which the application was received 
on or after February 1, 1999 and before July 1, 2013 have a fixed 
interest rate that is determined in accordance with sections 
455(b)(6)(D) and 455(b)(7)(C) of the HEA. The fixed interest rate for 
these Direct Consolidation Loans is equal to the weighted average of 
the loans that are consolidated, rounded up to the nearest higher \1/8\ 
of one percent, but the rate may not exceed 8.25 percent.
    Chart 5 shows the fixed interest rates for Direct Subsidized Loans, 
Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed before 
July 1, 2013, and for Direct Consolidation Loans for which the 
application was received on or after February 1, 1999 and before July 
1, 2013.

  Chart 5--Fixed-Rate Direct Subsidized, Direct Unsubsidized, Direct PLUS Loans, and Direct Consolidation Loans
                            First Disbursed On or After 7/1/2006 and Before 7/1/2013
----------------------------------------------------------------------------------------------------------------
                                     Student grade    First disbursed on    First disbursed
            Loan type                    level             or after             before             Rate (%)
----------------------------------------------------------------------------------------------------------------
Subsidized......................  Undergraduates....  7/1/2006..........  7/1/2008..........  6.80
Subsidized......................  Undergraduates....  7/1/2008..........  7/1/2009..........  6.00
Subsidized......................  Undergraduates....  7/1/2009..........  7/1/2010..........  5.60
Subsidized......................  Undergraduates....  7/1/2010..........  7/1/2011..........  4.50
Subsidized......................  Undergraduates....  7/1/2011..........  7/1/2013..........  3.40
Subsidized......................  Graduate/           7/1/2006..........  7/1/2012..........  6.80
                                   Professional
                                   Students.
Unsubsidized....................  All...............  7/1/2006..........  7/1/2013..........  6.80

[[Page 68005]]

 
PLUS............................  Parents and         7/1/2006..........  7/1/2013..........  7.90
                                   Graduate/
                                   Professionals.
                                                     ----------------------------------------
                                                          Application     Application
                                                         received on or    received before.
                                                             after
                                                     ----------------------------------------
Consolidation...................  N/A...............  2/1/1999..........  7/1/2013..........  Weighted average
                                                                                               of rates on the
                                                                                               loans being
                                                                                               consolidated,
                                                                                               rounded to
                                                                                               nearest higher \1/
                                                                                               8\ of 1 percent,
                                                                                               not to exceed
                                                                                               8.25%
                                                      7/1/2013..........  ..................  Weighted average
                                                                                               of rates on the
                                                                                               loans being
                                                                                               consolidated,
                                                                                               rounded to
                                                                                               nearest higher \1/
                                                                                               8\ of 1 percent
----------------------------------------------------------------------------------------------------------------


    Note: Interest rates for Direct Subsidized Loans, Direct 
Unsubsidized Loans, and Direct PLUS Loans first disbursed on or 
after July 1, 2013 and before July 1, 2016 are published in earlier 
Federal Register notices, as follows:

     For loans first disbursed on or after July 1, 2013, and 
prior to July 1, 2014, see 78 FR 59011.
     For loans first disbursed on or after July 1, 2014, and 
prior to July 1, 2015, see 79 FR 37301.
     For loans first disbursed on or after July 1, 2015, and 
prior to July 1, 2016, see 80 FR 42488.
     For loans first disbursed on or after July 1, 2016, and 
prior to July 1, 2017, see 81 FR 38159.
    Electronic Access to This Document: The official version of this 
document is the document published in the Federal Register. Free 
Internet access to the official edition of the Federal Register and the 
Code of Federal Regulations is available via the Federal Digital System 
at: www.thefederalregister.org/fdsys. At this site you can view this document, as well 
as all other documents of this Department published in the Federal 
Register, in text or Adobe Portable Document Format (PDF). To use PDF 
you must have Adobe Acrobat Reader, which is available free at the 
site.
    You may also access documents of the Department published in the 
Federal Register by using the article search feature at: 
www.federalregister.gov. Specifically, through the advanced search 
feature at this site, you can limit your search to documents published 
by the Department.
    Program Authority: 20 U.S.C. 1087 et seq.

    Dated: September 27, 2016.
James W. Runcie,
Chief Operating Officer, Federal Student Aid.
[FR Doc. 2016-23767 Filed 9-30-16; 8:45 am]
 BILLING CODE 4000-01-P



                                                                                    Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices                                                                           68003

                                                  Dated: September 28, 2016.                                      Floor, Washington, DC 20202.                                         loan depends on the date of the first
                                                Kate Mullan,                                                      Telephone: (202) 377–4270 or by email:                               disbursement of the loan or, for some
                                                Acting Director, Information Collection                           Rene.Tiongquico@ed.gov.                                              Direct Consolidation Loans, the date the
                                                Clearance Division, Office of the Chief Privacy                      If you use a telecommunications                                   application for the loan was received.
                                                Officer, Office of Management.                                    device for the deaf (TDD) or a text                                  The variable rates are determined
                                                [FR Doc. 2016–23775 Filed 9–30–16; 8:45 am]                       telephone (TTY), call the Federal Relay                              annually and are effective for each 12-
                                                BILLING CODE 4000–01–P                                            Service (FRS), toll free, at 1–800–877–                              month period beginning July 1 of one
                                                                                                                  8339.                                                                year and ending June 30 of the following
                                                                                                                     Individuals with disabilities can                                 year.
                                                DEPARTMENT OF EDUCATION                                           obtain this document in an accessible
                                                                                                                                                                                          Except for Direct PLUS Loans that
                                                                                                                  format (e.g., Braille, large print,
                                                Annual Notice of Interest Rates for                                                                                                    were first disbursed before July 1, 1998,
                                                                                                                  audiotape, or compact disc) on request
                                                Federal Student Loans Made Under the                                                                                                   the variable interest rates for most types
                                                                                                                  to the contact person listed under FOR
                                                William D. Ford Federal Direct Loan                               FURTHER INFORMATION CONTACT.
                                                                                                                                                                                       of Direct Loans are based on formulas
                                                Program Prior to July 1, 2013                                                                                                          that use the bond equivalent rates of the
                                                                                                                  SUPPLEMENTARY INFORMATION: Section
                                                                                                                                                                                       91-day Treasury bills auctioned at the
                                                AGENCY: Federal Student Aid,                                      455(b) of the Higher Education Act of                                final auction held before June 1 of each
                                                Department of Education.                                          1965, as amended (HEA) (20 U.S.C.
                                                                                                                                                                                       year, plus a statutory add-on percentage.
                                                ACTION: Notice.                                                   1087e(b)), specifies the interest rates
                                                                                                                                                                                       In each case, the calculated rate is
                                                                                                                  charged to borrowers for Federal Direct
                                                                                                                                                                                       capped by a maximum interest rate. The
                                                  Catalog of Federal Domestic Assistance                          Subsidized Stafford/Ford Loans (Direct
                                                                                                                                                                                       bond equivalent rate of the 91-day
                                                (CFDA) Number: 84.268.                                            Subsidized Loans), Federal Direct
                                                                                                                                                                                       Treasury bills auctioned on May 31,
                                                                                                                  Unsubsidized Stafford/Ford Loans
                                                DATES:  This notice is effective October                                                                                               2016, which is used to calculate the
                                                                                                                  (Direct Unsubsidized Loans), Federal
                                                3, 2016.                                                                                                                               interest rates on these loans, is 0.345,
                                                                                                                  Direct PLUS Loans (Direct PLUS Loans),
                                                SUMMARY: In accordance with section                                                                                                    rounded up to 0.35 percent.
                                                                                                                  and Federal Direct Consolidation Loans
                                                455(b)(10) of the Higher Education Act                            (Direct Consolidation Loans),                                           The interest rate for Direct PLUS
                                                of 1965, as amended, (HEA), (20 U.S.C.                            collectively referred to as ‘‘Direct                                 Loans that were first disbursed on or
                                                1087e(b)(10)) the Chief Operating                                 Loans.’’ The interest rates for Direct                               after July 1, 1994, and before July 1,
                                                Officer for Federal Student Aid                                   Loans may be variable or fixed.                                      1998, is based on the weekly average of
                                                announces the interest rates for loans                                                                                                 the one-year constant maturity Treasury
                                                made under the William D. Ford Federal                            Variable-Rate Direct Loans                                           yield, as published by the Board of
                                                Direct Loan (Direct Loan) Program prior                             Direct Subsidized Loans, Direct                                    Governors of the Federal Reserve
                                                to July 1, 2013. For loans that have a                            Unsubsidized Loans, and Direct PLUS                                  System on the last day of the calendar
                                                variable interest rate, the rates                                 Loans that were first disbursed before                               week ending on or before June 26 of
                                                announced in this notice are in effect for                        July 1, 2006, and Direct Consolidation                               each year, plus a statutory add-on
                                                the period July 1, 2016 through June 30,                          Loans for which the application was                                  percentage. The calculated rate is
                                                2017. The Chief Operating Officer takes                           received before February 1, 1999, have                               capped by a maximum interest rate. The
                                                this action to give notice of Direct Loan                         variable interest rates that are                                     weekly average of the one-year constant
                                                interest rates to the public.                                     determined each year in accordance                                   maturity Treasury yield published on
                                                FOR FURTHER INFORMATION CONTACT:                                  with formulas specified in section                                   June 27, 2016, which is used to
                                                Rene Tiongquico, U.S. Department of                               455(b) of the HEA. The variable interest                             calculate the interest rate on these loans,
                                                Education, 830 First Street NE., 11th                             rate formula that applies to a particular                            is 0.55 percent.

                                                   CHARTS 1 THROUGH 4 IN THIS NOTICE SHOW THE INTEREST RATES FOR VARIABLE-RATE DIRECT LOANS THAT ARE IN
                                                                         EFFECT FOR THE PERIOD JULY 1, 2016 THROUGH JUNE 30, 2017
                                                                       Cohort                                                       Index rate                               Margin                                   Total rate

                                                                                                           Maximum rate                                                                                       In-school,
                                                                                                                                     91-Day                In-school,                   All other                                  All other
                                                 First disbursed on             First disbursed                (%)                                                                                              grace,
                                                                                                                                    T-Bill rate              grace,                     periods                                    periods
                                                       or after                      before                                                                                                                   deferment
                                                                                                                                       (%)                 deferment                       (%)                                        (%)
                                                                                                                                                                                                                 (%)

                                                7/1/1994 ................    7/1/1995 ................                  8.25                 0.35                       3.10                       3.10               3.45                3.45
                                                7/1/1995 ................    7/1/1998 ................                  8.25                 0.35                       2.50                       3.10               2.85                3.45
                                                7/1/1998 ................    7/1/2006 ................                  8.25                 0.35                       1.70                       2.30               2.05                2.65


                                                 CHART 2—VARIABLE-RATE DIRECT PLUS LOANS INTEREST RATES IN EFFECT FOR THE PERIOD 7/1/2016 THROUGH 6/30/
                                                                                                2017
                                                                             Cohort                                                                                Index rate
sradovich on DSK3GMQ082PROD with NOTICES




                                                                                                                        Maximum rate                                                                           Margin          Total rate
                                                                                                                                                                               1-Year constant
                                                    First disbursed on                    First disbursed                   (%)             91-Day T-Bill rate                                                  (%)               (%)
                                                                                                                                                                              treasury maturity
                                                          or after                             before                                             (%)                                (%)

                                                7/1/1994 ........................   7/1/1998 ........................               9.00    ..............................                          0.55              3.10                3.65
                                                7/1/1998 ........................   7/1/2006 ........................               9.00                           0.35      ..............................           3.10                3.45




                                           VerDate Sep<11>2014      17:56 Sep 30, 2016      Jkt 241001    PO 00000      Frm 00048    Fmt 4703     Sfmt 4703      E:\FR\FM\03OCN1.SGM                03OCN1


                                                68004                                        Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices

                                                  CHART 3—VARIABLE-RATE DIRECT SUBSIDIZED AND DIRECT UNSUBSIDIZED CONSOLIDATION LOANS INTEREST RATES IN
                                                                           EFFECT FOR THE PERIOD 7/1/2016 THROUGH 6/30/2017
                                                                                       Cohort                                                                        Index rate                             Margin                                Total rate
                                                                                                                                                Maxmum                                          In-school,                                 In-school,
                                                                                                                                                  rate                 91-Day                                          All other                               All other
                                                                                                                                                                                                  grace,                                     grace,
                                                 First disbursed on or after                        First disbursed before                        (%)                 T-Bill rate                                      periods                                 periods
                                                                                                                                                                                                deferment                                  deferment
                                                                                                                                                                         (%)                                              (%)                                     (%)
                                                                                                                                                                                                   (%)                                        (%)

                                                7/1/1994 ............................           7/1/1995 ............................                    8.25                      0.35                   3.10                  3.10              3.45               3.45
                                                7/1/1995 ............................           7/1/1998 ............................                    8.25                      0.35                   2.50                  3.10              2.85               3.45
                                                7/1/1998 ............................           10/1/1998 ..........................                     8.25                      0.35                   1.70                  2.30              2.05               2.65

                                                     First disbursed on or                            Application received
                                                              after                                          before

                                                10/1/1998 ..........................            10/1/1998 ..........................                     8.25                      0.35                   1.70                  2.30              2.05             2.65%

                                                 Application received on or                           Application received
                                                            after                                            before

                                                10/1/1998 ..........................            2/1/1999 ............................                    8.25                      0.35                   2.30                  2.30              2.65               2.65


                                                CHART 4—VARIABLE-RATE DIRECT PLUS CONSOLIDATION LOANS INTEREST RATES IN EFFECT FOR THE PERIOD 7/1/2016
                                                                                        THROUGH 6/30/2017
                                                                                      Cohort                                                                             Index rate                                  Margin                          Total rate

                                                                                                                                              Maximum                                  1-Year             In-school,                          In-school,
                                                                                                                                                rate           91-Day                 constant                                All other                         All other
                                                                                                                                                                                                            grace,                               race,
                                                  First disbursed on or after                       First disbursed before                      (%)           T-Bill rate             treasury                                periods                           periods
                                                                                                                                                                                                          deferment                           deferment
                                                                                                                                                                 (%)                  maturity                                   (%)                               (%)
                                                                                                                                                                                                             (%)                                  (%)
                                                                                                                                                                                         (%)

                                                7/1/1994 .................................     7/1/1998 ................................            9.00    ....................                0.55              3.10                 3.10         3.65              3.65
                                                7/1/1998 .................................     10/1/1998 ..............................             9.00                 0.35      ....................           3.10                 3.10         3.45              3.45

                                                  First disbursed on or after                   Application received before

                                                10/1/1998 ...............................      10/1/1998 ..............................             9.00                 0.35      ....................           3.10                 3.10         3.45              3.45

                                                      Application received                           Application received
                                                           on or after                                      before

                                                10/1/1998 ...............................      2/1/1999 ................................            8.25                 0.35      ....................           2.30                 2.30         2.65              2.65



                                                Fixed-Rate Direct Loans                                                         2006 and before July 1, 2013 have                                           the weighted average of the loans that
                                                                                                                                various fixed interest rates that are                                       are consolidated, rounded up to the
                                                  Direct Subsidized Loans, Direct                                               specified in section 455(b)(7) of the                                       nearest higher 1⁄8 of one percent, but the
                                                Unsubsidized Loans, and Direct PLUS                                             HEA. These fixed rates are shown in                                         rate may not exceed 8.25 percent.
                                                Loans first disbursed on or after July 1,                                       Chart 5.
                                                2006 and before July 1, 2013, and Direct                                                                                                                      Chart 5 shows the fixed interest rates
                                                                                                                                  Direct Consolidation Loans for which
                                                Consolidation Loans for which the                                               the application was received on or after                                    for Direct Subsidized Loans, Direct
                                                application was received on or after                                            February 1, 1999 and before July 1, 2013                                    Unsubsidized Loans, and Direct PLUS
                                                February 1, 1999, have fixed interest                                           have a fixed interest rate that is                                          Loans first disbursed before July 1,
                                                rates.                                                                          determined in accordance with sections                                      2013, and for Direct Consolidation
                                                  Direct Subsidized Loans, Direct                                               455(b)(6)(D) and 455(b)(7)(C) of the                                        Loans for which the application was
                                                Unsubsidized Loans, and Direct PLUS                                             HEA. The fixed interest rate for these                                      received on or after February 1, 1999
                                                Loans first disbursed on or after July 1,                                       Direct Consolidation Loans is equal to                                      and before July 1, 2013.

                                                 CHART 5—FIXED-RATE DIRECT SUBSIDIZED, DIRECT UNSUBSIDIZED, DIRECT PLUS LOANS, AND DIRECT CONSOLIDATION
                                                                    LOANS FIRST DISBURSED ON OR AFTER 7/1/2006 AND BEFORE 7/1/2013
                                                                                                                                                                                                                                                        Rate
                                                              Loan type                                Student grade level                     First disbursed on or after                         First disbursed before                               (%)
sradovich on DSK3GMQ082PROD with NOTICES




                                                Subsidized         .........................     Undergraduates ................               7/1/2006     ............................      7/1/2008      ............................   6.80
                                                Subsidized         .........................     Undergraduates ................               7/1/2008     ............................      7/1/2009      ............................   6.00
                                                Subsidized         .........................     Undergraduates ................               7/1/2009     ............................      7/1/2010      ............................   5.60
                                                Subsidized         .........................     Undergraduates ................               7/1/2010     ............................      7/1/2011      ............................   4.50
                                                Subsidized         .........................     Undergraduates ................               7/1/2011     ............................      7/1/2013      ............................   3.40
                                                Subsidized         .........................     Graduate/Professional Stu-                    7/1/2006     ............................      7/1/2012      ............................   6.80
                                                                                                    dents.
                                                Unsubsidized .....................               All ......................................    7/1/2006 ............................          7/1/2013 ............................        6.80



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                                                                                    Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices                                                                                68005

                                                 CHART 5—FIXED-RATE DIRECT SUBSIDIZED, DIRECT UNSUBSIDIZED, DIRECT PLUS LOANS, AND DIRECT CONSOLIDATION
                                                              LOANS FIRST DISBURSED ON OR AFTER 7/1/2006 AND BEFORE 7/1/2013—Continued
                                                                                                                                                                                                                                    Rate
                                                            Loan type                         Student grade level                   First disbursed on or after                First disbursed before                               (%)

                                                PLUS .................................   Parents and Graduate/Pro-                  7/1/2006 ............................   7/1/2013 ............................         7.90
                                                                                           fessionals.

                                                                                                                                    Application received on or              Application received before
                                                                                                                                               after

                                                Consolidation .....................      N/A ....................................   2/1/1999 ............................   7/1/2013 ............................         Weighted average of rates
                                                                                                                                                                                                                           on the loans being con-
                                                                                                                                                                                                                           solidated, rounded to
                                                                                                                                                                                                                           nearest higher 1⁄8 of 1
                                                                                                                                                                                                                           percent, not to exceed
                                                                                                                                                                                                                           8.25%
                                                                                                                                    7/1/2013 ............................   ...........................................   Weighted average of rates
                                                                                                                                                                                                                           on the loans being con-
                                                                                                                                                                                                                           solidated, rounded to
                                                                                                                                                                                                                           nearest higher 1⁄8 of 1
                                                                                                                                                                                                                           percent



                                                   Note: Interest rates for Direct Subsidized                          Dated: September 27, 2016.                                            The refund effective date in Docket
                                                Loans, Direct Unsubsidized Loans, and Direct                         James W. Runcie,                                                      No. EL16–116–000, established
                                                PLUS Loans first disbursed on or after July                                                                                                pursuant to section 206(b) of the FPA,
                                                                                                                     Chief Operating Officer, Federal Student Aid.
                                                1, 2013 and before July 1, 2016 are published                                                                                              will be the date of publication of this
                                                in earlier Federal Register notices, as                              [FR Doc. 2016–23767 Filed 9–30–16; 8:45 am]
                                                follows:                                                             BILLING CODE 4000–01–P
                                                                                                                                                                                           notice in the Federal Register.
                                                                                                                                                                                             Any interested person desiring to be
                                                   • For loans first disbursed on or after                                                                                                 heard in Docket No. EL16–116–000
                                                July 1, 2013, and prior to July 1, 2014,                                                                                                   must file a notice of intervention or
                                                see 78 FR 59011.                                                     DEPARTMENT OF ENERGY                                                  motion to intervene, as appropriate,
                                                                                                                                                                                           with the Federal Energy Regulatory
                                                   • For loans first disbursed on or after                           Federal Energy Regulatory                                             Commission, 888 First Street NE.,
                                                July 1, 2014, and prior to July 1, 2015,                             Commission                                                            Washington, DC 20426, in accordance
                                                see 79 FR 37301.
                                                                                                                     [Docket No. EL16–116–000]                                             with Rule 214 of the Commission’s
                                                   • For loans first disbursed on or after                                                                                                 Rules of Practice and Procedure, 18 CFR
                                                July 1, 2015, and prior to July 1, 2016,                             Notice of Institution of Section 206                                  385.214 (2016), within 21 days of the
                                                see 80 FR 42488.                                                     Proceeding and Refund Effective Date                                  date of issuance of the order.
                                                   • For loans first disbursed on or after                                                                                                 Kimberly D. Bose,
                                                July 1, 2016, and prior to July 1, 2017,                               Talen Energy Marketing, LLC, Montour,
                                                                                                                     LLC, Bayonne Plant Holding, L.L.C., Camden                            Secretary.
                                                see 81 FR 38159.                                                     Plant Holdings, L.L.C., Elmwood Park Power,                           [FR Doc. 2016–23816 Filed 9–30–16; 8:45 am]
                                                   Electronic Access to This Document:                               LLC, Newark Bay Cogeneration Partnership,                             BILLING CODE 6717–01–P
                                                The official version of this document is                             L.P., Lower Mount Bethel Energy, LLC, York
                                                the document published in the Federal                                Generation Company LLC, Pedricktown
                                                Register. Free Internet access to the                                Cogeneration Company LP, H.A. Wagner
                                                                                                                                                                                           DEPARTMENT OF ENERGY
                                                official edition of the Federal Register                             LLC, Brandon Shores LLC, Chief Conemaugh
                                                                                                                     Power, LLC, Chief Keystone Power, LLC
                                                and the Code of Federal Regulations is                                                                                                     Federal Energy Regulatory
                                                available via the Federal Digital System                               On September 27, 2016, the                                          Commission
                                                at: www.gpo.gov/fdsys. At this site you                              Commission issued an order in Docket
                                                                                                                                                                                           [Docket No. ER16–2654–000]
                                                can view this document, as well as all                               No. EL16–116–000, pursuant to section
                                                other documents of this Department                                   206 of the Federal Power Act (FPA), 16                                City Point Energy Center, LLC;
                                                published in the Federal Register, in                                U.S.C. 824e (2012), instituting an                                    Supplemental Notice That Initial
                                                text or Adobe Portable Document                                      investigation into the justness and                                   Market-Based Rate Filing Includes
                                                Format (PDF). To use PDF you must                                    reasonableness of the Talen Entities’,1                               Request for Blanket Section 204
                                                have Adobe Acrobat Reader, which is                                  Chief Keystone Power, LLC’s, and Chief                                Authorization
                                                available free at the site.                                          Conemaugh Power, LLC’s Reactive
                                                                                                                     Service revenue requirements. Talen                                     This is a supplemental notice in the
                                                   You may also access documents of the                                                                                                    above-referenced proceeding of City
                                                Department published in the Federal                                  Energy Marketing, LLC et al., 156 FERC
                                                                                                                     ¶ 61,231 (2016).                                                      Point Energy Center, LLC’s application
                                                Register by using the article search
sradovich on DSK3GMQ082PROD with NOTICES




                                                                                                                                                                                           for market-based rate authority, with an
                                                feature at: www.federalregister.gov.                                                                                                       accompanying rate tariff, noting that
                                                                                                                       1 Talen Energy Marketing, LLC, Montour, LLC
                                                Specifically, through the advanced                                                                                                         such application includes a request for
                                                                                                                     (Montour), Bayonne Plant Holding, L.L.C., Camden
                                                search feature at this site, you can limit                           Plant Holding, L.L.C., Elmwood Park Power, LLC,                       blanket authorization, under 18 CFR
                                                your search to documents published by                                Newark Bay Cogeneration Partnership, L.P., Lower                      part 34, of future issuances of securities
                                                the Department.                                                      Mount Bethel Energy, LLC, York Generation
                                                                                                                                                                                           and assumptions of liability.
                                                                                                                     Company LLC, Pedricktown Cogeneration Company
                                                   Program Authority: 20 U.S.C. 1087 et                              LP, H.A. Wagner LLC, Brandon Shores LLC                                 Any person desiring to intervene or to
                                                seq.                                                                 (collectively, Talen Entities).                                       protest should file with the Federal


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Document Created: 2018-02-13 14:11:04
Document Modified: 2018-02-13 14:11:04
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice.
DatesThis notice is effective October 3, 2016.
ContactRene Tiongquico, U.S. Department of Education, 830 First Street NE., 11th Floor, Washington, DC 20202. Telephone: (202) 377-4270 or by email: [email protected]
FR Citation81 FR 68003 

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