82 FR 39111 - Annual Notice of Variable Interest Rates of Federal Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010
DEPARTMENT OF EDUCATION Federal Register Volume 82, Issue 158 (August 17, 2017)
Federal Register Volume 82, Issue 158 (August 17, 2017)
| Page Range | 39111-39113 | |
| FR Document | 2017-17424 |
[Federal Register Volume 82, Number 158 (Thursday, August 17, 2017)] [Notices] [Pages 39111-39113] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-17424] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF EDUCATION Annual Notice of Variable Interest Rates of Federal Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010 AGENCY: Federal Student Aid, Department of Education (ED). ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: The Chief Operating Officer for Federal Student Aid announces the variable interest rates for the period July 1, 2017, through June 30, 2018, for certain loans made under the Federal Family Education Loan (FFEL) Program. The Chief Operating Officer takes this action to give notice of FFEL Program loan variable interest rates to the public. DATES: This notice is applicable August 17, 2017. FOR FURTHER INFORMATION CONTACT: Rene Tiongquico, U.S. Department of [[Page 39112]] 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: Catalog of Federal Domestic Assistance (CFDA) Number: 84.032. Section 427A of the Higher Education Act of 1965, as amended (HEA) (20 U.S.C. 1077a), provides formulas for determining the interest rates charged to borrowers on loans made under the FFEL Program, including Federal Subsidized and Unsubsidized Stafford Loans, Federal PLUS Loans, and Federal Consolidation Loans. The FFEL Program includes loans with variable interest rates and loans with fixed interest rates. Most loans made under the FFEL Program before July 1, 2006, have variable interest rates that change each year. In most cases, the variable interest rate formula that applies to a particular loan depends on the date of the first disbursement of the loan. 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. Under section 427A(l) of the HEA, FFEL Program loans first disbursed on or after July 1, 2006, and before July 1, 2010, have a fixed interest rate. Interest rates for these loans may be found in a Federal Register notice published on September 15, 2015 (80 FR 55342). Federal Consolidation Loans made prior to November 13, 1997, and on or after October 1, 1998, have a fixed interest rate that is based on the weighted average of the loans that are consolidated. Interest rates for Federal Consolidation Loans made between November 13, 1997, and September 30, 1998, are provided in Chart 3. FFEL variable interest rates are based on formulas that use the bond equivalent rate of the 91-day Treasury bill auctioned at the final auction held before June 1 of each year plus a statutorily established add-on. These formulas apply to: All Federal Subsidized and Unsubsidized Stafford Loans first disbursed before October 1, 1992, that have been converted to variable rate loans; all Federal Subsidized and Unsubsidized Stafford Loans first disbursed on or after October 1, 1992, and before July 1, 2006; Federal PLUS Loans first disbursed on or after July 1, 1998, and before July 1, 2006; and Federal Consolidation Loans for which the Federal Consolidation Loan application was received on or after November 13, 1997, and before October 1, 1998. 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 30, 2017, which is used to calculate the interest rates on these loans, is 0.976 percent rounded up to 0.98 percent. For Federal PLUS loans first disbursed before July 1, 1998, the interest rate 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 for 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 26, 2017, which is used to calculate the interest rate on these loans, is 1.22 percent. For Federal Consolidation loans for which the application was received by the lender on or after November 13, 1997, the interest rate that includes portions of Federal Consolidation Loans attributable to loans made by the U.S. Department of Health and Human Services under subpart I of part A of title VII of the Public Health Service Act, is based on the average of the bond equivalent rates of the 91-day Treasury bills auctioned for the quarter ending June 30, 2017, plus a statutory add-on percentage. There is no maximum interest rate for these loans. The average of the bond equivalent rates of the 91-day Treasury bill auctioned for the quarter ending on June 30, 2017, which is used to calculate the interest rate on these loans, is 0.92 percent. This notice includes three charts containing specific information on the calculation of variable interest rates for loans made under the FFEL Program: Chart 1 contains information on the interest rates for Federal Subsidized and Unsubsidized Stafford Loans that were made as fixed-rate loans, but were subsequently converted to variable-rate loans. Chart 2 contains information on the interest rates for variable- rate Federal Subsidized and Unsubsidized Stafford Loans. Chart 3 contains information on the interest rates for variable- rate Federal PLUS Loans, certain Federal Consolidation Loans, and Consolidation Loans that include loans made by the U.S. Department of Health and Human Services under subpart I of part A of title VII of the Public Health Service Act. Chart 1--``Converted'' Variable-Rate Federal Subsidized and Unsubsidized Stafford Loans Interest Rates in Effect for the Period 7/1/2017 Through 6/30/ 2018 -------------------------------------------------------------------------------------------------------------------------------------------------------- Cohort ----------------------------------------------------------- First Original fixed interest rate Max. rate (%) 91-Day T-bill Margin (%) Total rate (%) First disbursed on or after disbursed (%) rate (%) before -------------------------------------------------------------------------------------------------------------------------------------------------------- 7/1/1988.................................. 7/23/1992 8.00, increasing to 10.00... 10.00 0.98 3.25 4.23 7/23/1992................................. 10/1/1992 8.00, increasing to 10.00... 10.00 0.98 3.25 4.23 7/23/1992................................. 7/1/1994 7.00........................ 7.00 0.98 3.10 4.08 7/23/1992................................. 7/1/1994 8.00........................ 8.00 0.98 3.10 4.08 7/23/1992................................. 7/1/1994 9.00........................ 9.00 0.98 3.10 4.08 7/23/1992................................. 7/1/1994 8.00, increasing to 10.00... 10.00 0.98 3.10 4.08 -------------------------------------------------------------------------------------------------------------------------------------------------------- Note: The FFEL Program loans represented by the second row of the chart were only made to ``new borrowers'' on or after July 23, 1992. Whether the FFEL Program loans represented by the third through sixth rows of Chart 1 were made to a specific borrower depends on the interest rate on the borrower's existing loans (see the ``Original Fixed Interest Rate'' column in Chart 1) at the time the borrower received the loan(s) on or after July 23, 1992, and prior to July 1, 1994. In Charts 2 and 3, a dagger following a date in a cohort field indicates that the [[Page 39113]] trigger for the rate to apply is a period of enrollment for which the loan was intended either ``ending before'' or ``beginning on or after'' the date in the cohort field. Chart 2--Variable-Rate Federal Subsidized and Unsubsidized Stafford Loans Interest Rates in Effect for the Period 7/1/2017 Through 6/30/2018 -------------------------------------------------------------------------------------------------------------------------------------------------------- Cohort Margin Total rate (%) --------------------------------------------------------- --------------------------------------------------------------- First Max. rate 91-Day T-bill In-school, In-school, First disbursed on or after disbursed rate grace, All other grace, All other before deferment (%) periods (%) deferment (%) periods (%) -------------------------------------------------------------------------------------------------------------------------------------------------------- 10/1/1992............................... 7/1/1994 9.00 0.98 3.10 3.10 4.08 4.08 7/1/1994................................ 7/1/ 9.00 0.98 3.10 3.10 4.08 4.08 1994[dagger] 7/1/1994................................ 7/1/1995 8.25 0.98 3.10 3.10 4.08 4.08 7/1/1995................................ 7/1/1998 8.25 0.98 2.50 3.10 3.48 4.08 7/1/1998................................ 7/1/2006 8.25 0.98 1.70 2.30 2.68 3.28 -------------------------------------------------------------------------------------------------------------------------------------------------------- Note: The FFEL Program loans represented in the first row in Chart 2 were only made to ``new borrowers'' on or after October 1, 1992. The FFEL Program loans represented in the second row in Chart 2 were only made to ``new borrowers'' on or after July 1, 1994. The FFEL Program loans represented in the third row in Chart 2 must--in addition to having been first disbursed on or after July 1, 1994, and before July 1, 1995--have been made for a period of enrollment that began on or included July 1, 1994. Chart 3--Variable-Rate Federal PLUS, SLS, and Consolidation Loans Interest Rates in Effect for the Period 7/1/2017 Through 6/30/2018 -------------------------------------------------------------------------------------------------------------------------------------------------------- Cohort Index rate -------------------------------- --------------------------------------------------------------- 1-Year Loan type First First Max. rate (%) 91-Day T-bill constant disbursed on disbursed rate Treasury Margin (%) Total rate (%) or after before maturity (%) -------------------------------------------------------------------------------------------------------------------------------------------------------- PLUS and SLS............................ -- 10/1/1992 12.00 -- 1.22 3.25 4.47 SLS..................................... 10/1/1992 7/1/ 11.00 -- 1.22 3.10 4.32 1994[dagger] PLUS.................................... 10/1/1992 7/1/1994 10.00 -- 1.22 3.10 4.32 PLUS.................................... 7/1/1994 7/1/1998 9.00 -- 1.22 3.10 4.32 PLUS.................................... 7/1/1998 7/1/2006 9.00 0.98 -- 3.10 4.08 Loan type............................... Application Application Max. rate 91-Day T-bill Average of the Margin Total rate received on or received rate Bond after before equivalent rates of the 91-Day T-bill for the quarter prior to July 1 Consolidation........................... 11/13/1997 10/1/1998 8.25 0.98 -- 3.10 4.08 HHS Portion of Consolidation............ 11/13/1997 -- -- -- 0.92 3.00 3.92 -------------------------------------------------------------------------------------------------------------------------------------------------------- The last row in Chart 3 refers to portions of Federal Consolidation Loans attributable to loans made by the U.S. Department of Health and Human Services under subpart I of part A of title VII of the Public Health Service Act. Note: No new loans have been made under the FFEL Program since June 30, 2010. 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. 1071 et seq. Dated: August 14, 2017. A. Wayne Johnson, Chief Operating Officer, Federal Student Aid. [FR Doc. 2017-17424 Filed 8-16-17; 8:45 am] BILLING CODE 4000-01-P
![Federal Register / Vol. 82, No. 158 / Thursday, August 17, 2017 / Notices 39111
with the provisions of Part 756 of the administrative review of this after the date of publication of this
Regulations. antidumping duty order.2 On March 24, notice in the Federal Register.
Fifth, a copy of this Order shall be 2017, Topray Solar timely withdrew its
Notification to Importers
delivered to Jose Luis Benavides-Cira, request for an administrative review.3
and shall be published in the Federal On April 10, 2017, the Department This notice serves as the only
Register. published in the Federal Register a reminder to importers of their
Sixth, this Order is effective notice of initiation 4 of an administrative responsibility, under 19 CFR
immediately and shall remain in effect review with respect to 27 companies. 351.402(f)(2), to file a certificate
until November 30, 2020. Because Topray Solar timely withdrew regarding the reimbursement of
its request for an administrative review antidumping duties prior to liquidation
Issued: August 10, 2017.
before the Department published its of the relevant entries during this
Karen H. Nies-Vogel, review period. Failure to comply with
initiation notice, the Department did not
Director, Office of Exporter Services. this requirement may result in the
initiate an administrative review with
[FR Doc. 2017–17374 Filed 8–16–17; 8:45 am]
respect to Topray Solar. On May 11, presumption that reimbursement of
BILLING CODE P
2017, the petitioner timely withdrew its antidumping duties occurred and the
request for an administrative review of subsequent assessment of double
all 27 companies for which it had antidumping duties.
DEPARTMENT OF COMMERCE
requested a review.5 Notification Regarding Administrative
International Trade Administration Rescission of Administrative Review Protective Orders
[A–570–010] Pursuant to 19 CFR 351.213(d)(1), the This notice serves as the only
Department will rescind an reminder to parties subject to
Certain Crystalline Silicon Photovoltaic administrative review, in whole or in administrative protective order (APO) of
Products From the People’s Republic part, if the parties that requested a their responsibility concerning the
of China: Rescission of Antidumping review withdraw the request within 90 disposition of proprietary information
Duty Administrative Review days of the date of publication of the disclosed under APO in accordance
notice of initiation of the requested with 19 CFR 351.305(a)(3). Timely
AGENCY: Enforcement and Compliance, written notification of the return or
International Trade Administration, review. Topray Solar and the petitioner
withdrew their requests for review by destruction of APO materials or
Department of Commerce. conversion to judicial protective order is
the 90-day deadline, and no other
SUMMARY: The Department of Commerce hereby requested. Failure to comply
parties requested an administrative
(the Department) is rescinding its with the regulations and the terms of an
review of this order. Therefore, we are
administrative review of the APO is a sanctionable violation.
rescinding the administrative review of
antidumping duty order on certain This notice is published in
the antidumping duty order on certain
crystalline silicon photovoltaic products accordance with section 777(i)(1) of the
crystalline silicon photovoltaic products
from the People’s Republic of China Act, and 19 CFR 351.213(d)(4).
from the PRC covering the period
(PRC) covering the period February 1, Dated: August 9, 2017.
February 1, 2016 to January 31, 2017.
2016, through January 31, 2017. James Maeder,
DATES: Applicable August 17, 2017. Assessment
Senior Director performing the duties of
FOR FURTHER INFORMATION CONTACT: The Department will instruct U.S. Deputy Assistant Secretary for Antidumping
Aleksandras Nakutis, AD/CVD Customs and Border Protection (CBP) to and Countervailing Duty Operations.
Operations, Office IV, Enforcement & assess antidumping duties on all [FR Doc. 2017–17361 Filed 8–16–17; 8:45 a.m.]
Compliance, International Trade appropriate entries. Antidumping duties BILLING CODE 3510–DS–P
Administration, Department of shall be assessed at an amount equal to
Commerce, 1401 Constitution Avenue the cash deposit of estimated
NW., Washington, DC 20230; telephone: antidumping duties required at the time DEPARTMENT OF EDUCATION
(202) 482–3147. of entry, or withdrawal from warehouse,
SUPPLEMENTARY INFORMATION: for consumption, in accordance with 19 Annual Notice of Variable Interest
CFR 351.212(c)(1)(i). The Department Rates of Federal Student Loans Made
Background intends to issue appropriate assessment Under the Federal Family Education
On February 8, 2017, the Department instructions directly to CBP 15 days Loan Program Prior to July 1, 2010
published in the Federal Register a AGENCY: Federal Student Aid,
2 See Letter from Topray Solar, regarding
notice of opportunity to request an Department of Education (ED).
‘‘Crystalline Silicon Photovoltaic Products from the
administrative review of the People’s Republic of China Request for ACTION: Notice.
antidumping duty order on certain Administrative Review,’’ dated February 27, 2017;
crystalline silicon photovoltaic products see also Letter from the petitioner, regarding SUMMARY: The Chief Operating Officer
from the PRC.1 The Department ‘‘Certain Crystalline Silicon Photovoltaic Products for Federal Student Aid announces the
from the People’s Republic of China: Request for
received a timely request from Administrative Review,’’ dated February 28, 2017. variable interest rates for the period July
Shenzhen Topray Solar Co., Ltd. 3 See Letter from Topray Solar, regarding 1, 2017, through June 30, 2018, for
(Topray Solar) and SolarWorld ‘‘Crystalline Silicon Photovoltaic Products form the certain loans made under the Federal
Americas, Inc. (the petitioner), in People’s Republic of China Withdrawal of Request Family Education Loan (FFEL) Program.
sradovich on DSK3GMQ082PROD with NOTICES
accordance with section 751(a) of the for Administrative Review,’’ dated March 24, 2017.
4 See Initiation of Antidumping and
The Chief Operating Officer takes this
Tariff Act of 1930, as amended (the Act), Countervailing Duty Administrative Reviews, 82 FR action to give notice of FFEL Program
and 19 CFR 351.213(b), to conduct an 17188 (April 10, 2017). loan variable interest rates to the public.
5 See Letter from the petitioner, regarding
DATES: This notice is applicable August
1 See Antidumping or Countervailing Duty Order, ‘‘Certain Crystalline Silicon Photovoltaic Products 17, 2017.
Finding, or Suspend Investigation; Opportunity To from the People’s Republic of China: Withdrawal of
Request Administrative Review, 82 FR 9709 Administrative Review Request,’’ dated May 11, FOR FURTHER INFORMATION CONTACT:
(February 8, 2017). 2017. Rene Tiongquico, U.S. Department of
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![Federal Register / Vol. 82, No. 158 / Thursday, August 17, 2017 / Notices 39113
trigger for the rate to apply is a period ‘‘beginning on or after’’ the date in the
of enrollment for which the loan was cohort field.
intended either ‘‘ending before’’ or
CHART 2—VARIABLE-RATE FEDERAL SUBSIDIZED AND UNSUBSIDIZED STAFFORD LOANS INTEREST RATES IN EFFECT FOR
THE PERIOD 7/1/2017 THROUGH 6/30/2018
Cohort Margin Total rate
(%)
91-Day T-bill In-school,
Max. rate All other In-school,
First disbursed on or First disbursed rate grace, All other
periods grace,
after before deferment periods
(%) deferment
(%) (%)
(%)
10/1/1992 ..................... 7/1/1994 9.00 0.98 3.10 3.10 4.08 4.08
7/1/1994 ....................... 7/1/1994† 9.00 0.98 3.10 3.10 4.08 4.08
7/1/1994 ....................... 7/1/1995 8.25 0.98 3.10 3.10 4.08 4.08
7/1/1995 ....................... 7/1/1998 8.25 0.98 2.50 3.10 3.48 4.08
7/1/1998 ....................... 7/1/2006 8.25 0.98 1.70 2.30 2.68 3.28
Note: The FFEL Program loans represented the second row in Chart 2 were only made having been first disbursed on or after July
in the first row in Chart 2 were only made to ‘‘new borrowers’’ on or after July 1, 1994. 1, 1994, and before July 1, 1995—have been
to ‘‘new borrowers’’ on or after October 1, The FFEL Program loans represented in the made for a period of enrollment that began
1992. The FFEL Program loans represented in third row in Chart 2 must—in addition to on or included July 1, 1994.
CHART 3—VARIABLE-RATE FEDERAL PLUS, SLS, AND CONSOLIDATION LOANS INTEREST RATES IN EFFECT FOR THE
PERIOD 7/1/2017 THROUGH 6/30/2018
Cohort Index rate
Max. rate 1-Year con-
Loan type First disbursed First disbursed (%) 91-Day T-bill stant Treasury Margin Total rate
on or after before rate maturity (%) (%)
(%)
PLUS and SLS ............. — 10/1/1992 12.00 — 1.22 3.25 4.47
SLS .............................. 10/1/1992 7/1/1994† 11.00 — 1.22 3.10 4.32
PLUS ............................ 10/1/1992 7/1/1994 10.00 — 1.22 3.10 4.32
PLUS ............................ 7/1/1994 7/1/1998 9.00 — 1.22 3.10 4.32
PLUS ............................ 7/1/1998 7/1/2006 9.00 0.98 — 3.10 4.08
Loan type ..................... Application Application Max. rate 91-Day T-bill Average of the Margin Total rate
received on or received rate Bond
after before equivalent
rates of the
91-Day T-bill
for the quarter
prior to July 1
Consolidation ............... 11/13/1997 10/1/1998 8.25 0.98 — 3.10 4.08
HHS Portion of Consoli-
dation ........................ 11/13/1997 — — — 0.92 3.00 3.92
The last row in Chart 3 refers to other documents of this Department Dated: August 14, 2017.
portions of Federal Consolidation Loans published in the Federal Register, in A. Wayne Johnson,
attributable to loans made by the U.S. text or Adobe Portable Document Chief Operating Officer, Federal Student Aid.
Department of Health and Human Format (PDF). To use PDF you must [FR Doc. 2017–17424 Filed 8–16–17; 8:45 am]
Services under subpart I of part A of have Adobe Acrobat Reader, which is BILLING CODE 4000–01–P
title VII of the Public Health Service available free at the site. You may also
Act. access documents of the Department
Note: No new loans have been made under published in the Federal Register by DEPARTMENT OF EDUCATION
the FFEL Program since June 30, 2010. using the article search feature at:
www.federalregister.gov. Specifically, Annual Notice of Interest Rates for
Electronic Access to This Document: through the advanced search feature at Federal Student Loans Made Under the
The official version of this document is
sradovich on DSK3GMQ082PROD with NOTICES
this site, you can limit your search to William D. Ford Federal Direct Loan
the document published in the Federal
documents published by the Program Prior to July 1, 2013
Register. Free internet access to the
official edition of the Federal Register Department.
AGENCY:Federal Student Aid,
and the Code of Federal Regulations is Program Authority: 20 U.S.C. 1071 et
Department of Education (ED).
available via the Federal Digital System seq.
at: www.gpo.gov/fdsys. At this site, you ACTION: Notice.
can view this document, as well as all
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Document Created: 2017-08-17 01:43:02
Document Modified: 2017-08-17 01:43:02
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice. | |
| Dates | This notice is applicable August 17, 2017. | |
| 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] | |
| FR Citation | 82 FR 39111 |
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