82_FR_29184 82 FR 29062 - Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program On or After July 1, 2013

82 FR 29062 - Annual Notice of Interest Rates of Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program On or After July 1, 2013

DEPARTMENT OF EDUCATION

Federal Register Volume 82, Issue 122 (June 27, 2017)

Page Range29062-29063
FR Document2017-13432

The Acting 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 on or after July 1, 2017, but before July 1, 2018. Catalog of Federal Domestic Assistance (CFDA) Number: 84.268.

Federal Register, Volume 82 Issue 122 (Tuesday, June 27, 2017) 
[Federal Register Volume 82, Number 122 (Tuesday, June 27, 2017)]
[Notices]
[Pages 29062-29063]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-13432]


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DEPARTMENT OF EDUCATION


Annual Notice of Interest Rates of Federal Student Loans Made 
Under the William D. Ford Federal Direct Loan Program On or After July 
1, 2013

AGENCY: Federal Student Aid, Department of Education.

ACTION: Notice.

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SUMMARY: The Acting 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 on or after July 1, 2017, but 
before July 1, 2018. Catalog of Federal Domestic Assistance (CFDA) 
Number: 84.268.

DATES: This notice is effective June 27, 2017.

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.

SUPPLEMENTARY INFORMATION: Section 455(b) of the Higher Education Act 
of 1965, as amended (HEA) (20 U.S.C. 1087e(b)), provides formulas for 
determining the interest rates charged to borrowers for loans made 
under the Direct Loan Program including: Federal Direct Subsidized 
Stafford Loans (Direct Subsidized Loans); Federal Direct Unsubsidized 
Stafford Loans (Direct Unsubsidized Loans); Federal Direct PLUS Loans 
(Direct PLUS Loans); and Federal Direct Consolidation Loans (Direct 
Consolidation Loans).
    Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS 
Loans (collectively, Direct Loans) first disbursed on or after July 1, 
2013, have a fixed interest rate that is calculated based on the high 
yield of the 10-year Treasury notes auctioned at the final auction held 
before June 1 of each year, plus a statutory add-on percentage (a 
``margin''). While the interest rate determination for new loans will 
be different from year to year, each of these loans will have a fixed 
interest rate for

[[Page 29063]]

the life of the loan. In each case the calculated rate is capped at a 
maximum interest rate. On Wednesday, May 10, 2017, the United States 
Treasury Department held a 10-year Treasury note auction that resulted 
in a high yield of 2.400%.
    The following chart contains specific information on the 
calculation of the interest rates for Direct Loans first disbursed on 
or after July 1, 2017, but before July 1, 2018. We will publish a 
separate notice containing the interest rates for Direct Loans that 
were made in prior years.

      Fixed-Rate Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First Disbursed On or After 7/1/2017 but Before 7/1/2018
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                             Cohort             Index
                                                                                   --------------------------    rate
                                                                                                             -----------   Margin     Fixed    Max. rate
                   Loan type                            Student grade level            First        First      10-Year      (%)     rate  (%)      (%)
                                                                                     disbursed    disbursed    treasury
                                                                                      on/after      before    note  (%)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Subsidized....................................  Undergraduates....................     7/1/2017     7/1/2018      2.400       2.05       4.45       8.25
Unsubsidized..................................  Undergraduates....................     7/1/2017     7/1/2018      2.400       2.05       4.45       8.25
Unsubsidized..................................  Graduate and Professional Students     7/1/2017     7/1/2018      2.400       3.60       6.00       9.50
PLUS..........................................  Parents of Dependent                   7/1/2017     7/1/2018      2.400       4.60       7.00      10.50
                                                 Undergraduates.
PLUS..........................................  Graduate and Professional Students     7/1/2017     7/1/2018      2.400       4.60       7.00      10.50
--------------------------------------------------------------------------------------------------------------------------------------------------------

    For an application for a Direct Consolidation Loan that was 
received by the Department on or after July 1, 2013, the interest rate 
on that loan is the weighted average of the loans being consolidated, 
rounded to the nearest higher \1/8\ of 1 percent. These Direct 
Consolidation Loans do not have an interest rate cap.
    Accessible Format: Individuals with disabilities can obtain this 
document in an accessible format (e.g., braille, large print, 
audiotape, or compact disc) by contacting the person listed under FOR 
FURTHER INFORMATION CONTACT.
    Electronic Access to This Document: The official version of this 
document is the document published in the Federal Register. 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: June 22, 2017.
Matthew D. Sessa,
Acting Chief Operating Officer, Federal Student Aid.
[FR Doc. 2017-13432 Filed 6-26-17; 8:45 am]
BILLING CODE 4000-01-P

29062 Federal Register / Vol. 82, No. 122 / Tuesday, June 27, 2017 / Notices TABLE B—PELL GRANT, IRAQ AND AFGHANISTAN SERVICE GRANT, DIRECT LOAN, AND TEACH GRANT PROGRAMS DEAD- LINE DATES FOR DISBURSEMENT INFORMATION BY INSTITUTIONS FOR THE 2017–2018 AWARD YEAR OR PROCESSING YEAR 1—Continued Under what What are the deadlines for dis- Which program? What is submitted? circumstances is Where is it submitted? bursement and for submission it submitted? of records and information? (c) Disbursements pre- Via the COD Web site at: The earlier of: viously blocked as a re- www.cod.ed.gov. (a) When the institution is sult of another institution fully reconciled and is failing to post a down- ready to submit all addi- ward adjustment.. tional data for the pro- gram and the award year; or (b) September 29, 2023. When the institution is fully rec- onciled and is ready to sub- mit all additional data for the program and the award year. Pell Grant and Iraq An origination or dis- It is after the deadline submis- Via the COD Web site at: The earlier of: and Afghanistan bursement record. sion date and the institution www.cod.ed.gov. (a) A date designated by Service Grant pro- has received approval of its the Secretary after con- grams. request for an extension to sultation with the institu- the deadline submission date tion; or based on a natural disaster, (b) February 1, 2019. other unusual circumstances, or an administrative error made by the Department. Pell Grant and Iraq An origination or dis- It is after the deadline submis- Via the COD Web site at: The earlier of: and Afghanistan bursement record. sion date and the institution www.cod.ed.gov. (a) 15 days after the stu- Service Grant pro- has received approval of its dent reenrolls; or grams. request for administrative re- (b) May 3, 2019. lief to extend the deadline submission date based on a student’s reentry to the insti- tution within 180 days after initially withdrawing.3 1 A COD Processing Year is a period of time in which institutions are permitted to submit Direct Loan records to the COD System that are re- lated to a given award year. For a Direct Loan, the period of time includes loans that have a loan period covering any day in the 2017–2018 award year. 2 Transmissions must be completed and accepted before the designated processing time on the deadline submission date. The designated processing time is published annually via an electronic announcement posted to the Information for Financial Aid Professionals website (www.ifap.ed.gov). If transmissions are started at the designated time, but are not completed until after the designated time, those transmissions will not meet the deadline. In addition, any transmission submitted on or just prior to the deadline date that is rejected may not be reprocessed because the deadline will have passed by the time the user gets the information notifying him or her of the rejection. 3 Applies only to students enrolled in clock-hour and nonterm credit-hour educational programs. NOTE: The COD System must accept origination data for a student from an institution before it accepts disbursement information from the in- stitution for that student. Institutions may submit origination and disbursement data for a student in the same transmission. However, if the origi- nation data is rejected, the disbursement data is rejected. [FR Doc. 2017–13436 Filed 6–26–17; 8:45 am] 2018. Catalog of Federal Domestic Direct Loan Program including: Federal BILLING CODE 4000–01–P Assistance (CFDA) Number: 84.268. Direct Subsidized Stafford Loans (Direct DATES: This notice is effective June 27, Subsidized Loans); Federal Direct 2017. Unsubsidized Stafford Loans (Direct DEPARTMENT OF EDUCATION FOR FURTHER INFORMATION CONTACT: Unsubsidized Loans); Federal Direct Rene Tiongquico, U.S. Department of PLUS Loans (Direct PLUS Loans); and Annual Notice of Interest Rates of Education, 830 First Street NE., 11th Federal Direct Consolidation Loans Federal Student Loans Made Under the Floor, Washington, DC 20202. (Direct Consolidation Loans). William D. Ford Federal Direct Loan Telephone: (202) 377–4270 or by email: Direct Subsidized Loans, Direct Program On or After July 1, 2013 Rene.Tiongquico@ed.gov. Unsubsidized Loans, and Direct PLUS If you use a telecommunications Loans (collectively, Direct Loans) first AGENCY:Federal Student Aid, device for the deaf (TDD) or a text Department of Education. disbursed on or after July 1, 2013, have telephone (TTY), call the Federal Relay a fixed interest rate that is calculated ACTION: Notice. Service (FRS), toll free, at 1–800–877– based on the high yield of the 10-year mstockstill on DSK30JT082PROD with NOTICES 8339. Treasury notes auctioned at the final SUMMARY: The Acting Chief Operating SUPPLEMENTARY INFORMATION: Section auction held before June 1 of each year, Officer for Federal Student Aid 455(b) of the Higher Education Act of plus a statutory add-on percentage (a announces the interest rates for loans 1965, as amended (HEA) (20 U.S.C. ‘‘margin’’). While the interest rate made under the William D. Ford Federal 1087e(b)), provides formulas for determination for new loans will be Direct Loan (Direct Loan) Program on or determining the interest rates charged to different from year to year, each of these after July 1, 2017, but before July 1, borrowers for loans made under the loans will have a fixed interest rate for VerDate Sep<11>2014 18:33 Jun 26, 2017 Jkt 241001 PO 00000 Frm 00041 Fmt 4703 Sfmt 4703 E:\FR\FM\27JNN1.SGM 27JNN1

Federal Register / Vol. 82, No. 122 / Tuesday, June 27, 2017 / Notices 29063 the life of the loan. In each case the note auction that resulted in a high disbursed on or after July 1, 2017, but calculated rate is capped at a maximum yield of 2.400%. before July 1, 2018. We will publish a interest rate. On Wednesday, May 10, The following chart contains specific separate notice containing the interest 2017, the United States Treasury information on the calculation of the rates for Direct Loans that were made in Department held a 10-year Treasury interest rates for Direct Loans first prior years. FIXED-RATE DIRECT SUBSIDIZED LOANS, DIRECT UNSUBSIDIZED LOANS, AND DIRECT PLUS LOANS FIRST DISBURSED ON OR AFTER 7/1/2017 BUT BEFORE 7/1/2018 Cohort Index rate 10-Year Margin Fixed rate Max. rate Loan type Student grade level First First treasury (%) (%) (%) disbursed disbursed note on/after before (%) Subsidized .................... Undergraduates ..................................... 7/1/2017 7/1/2018 2.400 2.05 4.45 8.25 Unsubsidized ................ Undergraduates ..................................... 7/1/2017 7/1/2018 2.400 2.05 4.45 8.25 Unsubsidized ................ Graduate and Professional Students .... 7/1/2017 7/1/2018 2.400 3.60 6.00 9.50 PLUS ............................ Parents of Dependent Undergraduates 7/1/2017 7/1/2018 2.400 4.60 7.00 10.50 PLUS ............................ Graduate and Professional Students .... 7/1/2017 7/1/2018 2.400 4.60 7.00 10.50 For an application for a Direct DEPARTMENT OF ENERGY Background Consolidation Loan that was received by the Department on or after July 1, 2013, Executive Order (E.O.) 10485, as [Docket No. PP–371] amended by E.O. 12038, requires that the interest rate on that loan is the weighted average of the loans being before an electric transmission facility Informational Notice Regarding Public may be constructed, operated, consolidated, rounded to the nearest Notification Procedures for the higher 1⁄8 of 1 percent. These Direct maintained, or connected at the U.S. Northern Pass Transmission Line international border, a Presidential Consolidation Loans do not have an Project interest rate cap. permit must be issued by DOE. E.O. AGENCY: Department of Energy. 10485 provides that DOE may issue a Accessible Format: Individuals with ACTION: Notice of changes to the public Presidential permit upon finding disabilities can obtain this document in notification procedures for consultation issuance of the permit to be consistent an accessible format (e.g., braille, large under the National Historic Preservation with the public interest and after print, audiotape, or compact disc) by Act for the Northern Pass Transmission obtaining favorable recommendations contacting the person listed under FOR Line Project. from the U.S. Departments of State and FURTHER INFORMATION CONTACT. Defense. In determining whether Electronic Access to This Document: SUMMARY: The U.S. Department of issuance of a Presidential permit would The official version of this document is Energy (DOE) is notifying the public of be consistent with the public interest, the document published in the Federal changes to the public notification DOE takes into account the potential Register. Free Internet access to the procedures for consultation under the effects of the issuance of a Presidential official edition of the Federal Register National Historic Preservation Act for permit for the proposed project’s and the Code of Federal Regulations is the Northern Pass Transmission Line international border crossing on historic available via the Federal Digital System Project, including implementation of the properties listed in or eligible for listing at www.gpo.gov/fdsys. At this site you Programmatic Agreement developed for in the National Register of Historic can view this document, as well as all the Project. Places (NRHP) and gives the Advisory other documents of this Department DATES: DOE is changing the public Council on Historic Preservation published in the Federal Register, in notification procedures for consultation (ACHP) and state historic preservation text or Adobe Portable Document under the National Historic Preservation offices (SHPOs) an opportunity to Format (PDF). To use PDF you must Act for the Northern Pass Transmission comment, in accordance with Section have Adobe Acrobat Reader, which is Line Project effective June 14, 2017. 106 of the National Historic available free at the site. Preservation Act (NHPA) of 1966 (54 You may also access documents of the ADDRESSES: Requests for information United States Code (U.S.C.) 306108) Department published in the Federal about the proposed project and DOE’s (Section 106), as amended, and the Register by using the article search Section 106 review should be addressed Section 106 implementing regulations feature at www.federalregister.gov. to: Brian Mills, Office of Electricity (36 CFR part 800). Specifically, through the advanced Delivery and Energy Reliability (OE–20), search feature at this site, you can limit U.S. Department of Energy, 1000 On October 14, 2010, NPT applied to your search to documents published by Independence Avenue SW., DOE for a Presidential permit to the Department. Washington, DC 20585; or by email to construct, operate, maintain, and Program Authority: 20 U.S.C. 1087, et Brian.Mills@hq.doe.gov. connect a high-voltage direct current (HVDC) transmission line across the mstockstill on DSK30JT082PROD with NOTICES seq. FOR FURTHER INFORMATION CONTACT: For U.S.-Canada border (the proposed Dated: June 22, 2017. information on DOE’s review of the Project). On July 1, 2013, NPT submitted Matthew D. Sessa, Presidential permit application, contact an amended Presidential permit Acting Chief Operating Officer, Federal Brian Mills by one of the methods listed application to DOE (see 78 FR 50405 Student Aid. in ADDRESSES above, or at 202–586– (Aug. 19, 2013)). On August 31, 2015, [FR Doc. 2017–13432 Filed 6–26–17; 8:45 am] 8267. NPT further amended its Presidential BILLING CODE 4000–01–P SUPPLEMENTARY INFORMATION: permit application to DOE (see 80 FR VerDate Sep<11>2014 18:33 Jun 26, 2017 Jkt 241001 PO 00000 Frm 00042 Fmt 4703 Sfmt 4703 E:\FR\FM\27JNN1.SGM 27JNN1


Document Created: 2018-11-14 10:14:50
Document Modified: 2018-11-14 10:14:50
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 June 27, 2017.
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 Citation82 FR 29062 
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