83 FR 53861 - Annual Notice of Interest Rates for Variable-Rate Federal Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010
DEPARTMENT OF EDUCATION Federal Register Volume 83, Issue 207 (October 25, 2018)
Federal Register Volume 83, Issue 207 (October 25, 2018)
| Page Range | 53861-53864 | |
| FR Document | 2018-23371 |
[Federal Register Volume 83, Number 207 (Thursday, October 25, 2018)] [Notices] [Pages 53861-53864] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-23371] ----------------------------------------------------------------------- DEPARTMENT OF EDUCATION Annual Notice of Interest Rates for Variable-Rate Federal Student Loans Made Under the Federal Family Education Loan Program Prior to July 1, 2010 AGENCY: Federal Student Aid, Department of Education. ACTION: Notice. ----------------------------------------------------------------------- SUMMARY: The Acting Chief Operating Officer for Federal Student Aid announces the interest rates for loans made under the Federal Family Education Loan (FFEL) Program that have variable interest rates. The rates announced in this notice are in effect for the period July 1, 2018, through June 30, 2019. FOR FURTHER INFORMATION CONTACT: Jon Utz, U.S. Department of Education, 830 First Street NE, 11th Floor, Washington, DC 20202. Telephone: (202) 377-4040 or by email: Jon.Utz@ed.gov. 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 (Stafford Loans), Federal PLUS Loans (PLUS Loans), Federal Consolidation Loans (Consolidation Loans), and Federal Supplemental Loans for Students (SLS Loans). No new loans have been made under the FFEL Program since June 30, 2010. The FFEL Program includes loans with variable interest rates that change each year and loans with fixed interest rates that remain the same for the life of the loan. For loans with a variable interest rate, the specific interest rate formula that applies to a particular loan depends on the date of the first disbursement of the loan or, in the case of a Consolidation Loan, the date the application for the loan was received. If a loan has a variable interest rate, a new rate is determined annually and is in effect during the period from July 1 of one year through June 30 of the following year. This notice announces the interest rates for variable-rate FFEL Program loans that will be in effect during the period from July 1, 2018, through June 30, 2019. Interest rates for fixed-rate FFEL Program loans may be found in a Federal Register notice published on September 15, 2015 (80 FR 55342). For the majority of variable-rate FFEL Program loans, the annual interest rate is equal to the lesser of-- [[Page 53862]] (1) The bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 of each year, plus a statutory add-on percentage; or (2) A statutorily established maximum interest rate. The bond equivalent rate of the 91-day Treasury bills auctioned on May 29, 2018, is 1.931 percent, rounded to 1.93 percent. For PLUS Loans first disbursed before July 1, 1998, and for all SLS Loans, the annual interest rate is equal to the lesser of-- (1) 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; or (2) A statutorily established maximum interest rate. The weekly average of the one-year constant maturity Treasury yield as published for the week ending on or before June 26, 2018, is 2.34 percent. For Consolidation Loans that have a variable interest rate, the annual interest rate for the portion of a Consolidation Loan that repaid loans other than loans made under the Health Education Assistance Loans (HEAL) Program is equal to-- (1) The bond equivalent rate of the 91-day Treasury bill auctioned at the final auction held before June 1 of each year, plus a statutory add-on percentage; or (2) A statutorily established maximum interest rate. If a Consolidation Loan (whether a variable-rate loan or a fixed- rate loan) repaid loans made under the HEAL Program, the interest rate on the portion of the Consolidation Loan that repaid HEAL loans is a variable rate that is equal to the average of the bond equivalent rates of the 91-day Treasury bills auctioned for the quarter ending June 30, plus a statutory add-on percentage. For the portion of a Consolidation Loan that repaid HEAL loans, there is no maximum interest rate. The average of the bond equivalent rates of the 91-day Treasury bills auctioned for the quarter ending on June 30, 2018, is 1.88 percent. The statutory add-on percentages and maximum interest rates vary depending on loan type and when the loan was first disbursed. In addition, the add-on percentage for certain Stafford Loans is different depending on whether the loan is in an in-school, grace, or deferment status, or in any other status. If the interest rate calculated in accordance with the applicable formula exceeds the statutory maximum interest rate, the statutory maximum rate applies. Charts 1 through 4 show the interest rate formulas that are used to determine the interest rates for all variable-rate FFEL Program loans and the interest rates that are in effect during the 12-month period from July 1, 2018, through June 30, 2019. Unless otherwise indicated, the cohorts shown in each chart include all borrowers, regardless of prior borrowing. Chart 1 shows the interest rates for loans with rates based on the 91-day Treasury bill, with the exception of ``converted'' variable-rate Federal Stafford Loans and certain Federal Consolidation Loans. Chart 2 shows the interest rates for loans with rates based on the weekly average of the one-year constant maturity Treasury yield. Chart 3 shows the interest rates for ``converted'' variable-rate Federal Stafford Loans. These are loans that originally had varying fixed interest rates. Finally, Chart 4 shows the interest rates for variable-rate Federal Consolidation Loans, and for the portion of any Federal Consolidation Loan that repaid loans made under the HEAL Program. Chart 1--Subsidized Federal Stafford Loans, Unsubsidized Federal Stafford Loans, and Federal Plus Loans [Interest rate based on 91-day treasury bill] -------------------------------------------------------------------------------------------------------------------------------------------------------- Loan type Cohort.......... 91-day T-bill Add-on (%) Maximum rate Interest rate 07/01/18 through 06/ rate 05/29/18 (%) 30/19 (%) (%) -------------------------------------------------------------------------------------------------------------------------------------------------------- Subsidized Stafford........... First disbursed 1.93 1.70 (in-school, 2.30 (any other 8.25 3.63 (in-school, 4.23 (any other Unsubsidized Stafford......... on/after 07/01/ grace, status). grace, status). 98 and before deferment). deferment). 07/01/06. -------------------------------------------------------------------------------------------------------------------------------------------------------- PLUS.......................... First disbursed 1.93 3.10 9.00 5.03 on/after 07/01/ 98 and before 07/01/06. -------------------------------------------------------------------------------------------------------------------------------------------------------- Subsidized Stafford........... First disbursed 1.93 2.50 (in-school, 3.10 (any other 8.25 4.43 (in-school, 5.03 (any other Unsubsidized Stafford......... on/after 07/01/ grace, status). grace, status). 95 and before deferment). deferment). 07/01/98. -------------------------------------------------------------------------------------------------------------------------------------------------------- Subsidized Stafford........... First disbursed 1.93 3.10 8.25 5.03 Unsubsidized Stafford......... on/after 07/01/ 94 and before 07/01/95, for a period of enrollment that included or began on or after 07/01/94. -------------------------------------------------------------------------------------------------------------------------------------------------------- Subsidized Stafford........... First disbursed 1.93 3.10 9.00 5.03 Unsubsidized Stafford......... on/after 10/01/ 92 and before 07/01/94; and First disbursed on/after 07/01/ 94, for a period of enrollment ending before 07/01/94 (new borrowers). -------------------------------------------------------------------------------------------------------------------------------------------------------- [[Page 53863]] Chart 2--Federal Plus Loans and SLS Loans [Interest rate based on weekly average of one-year constant maturity treasury yield] ---------------------------------------------------------------------------------------------------------------- Weekly average of 1-year constant maturity Interest rate treasury yield Maximum rate 07/01/18 Loan type Cohort for last Add-on (%) (%) through 06/30/ calendar week 19 (%) ending on or before 06/26/ 18 (%) ---------------------------------------------------------------------------------------------------------------- PLUS.................... First disbursed on/ 2.34 3.10 9.00 5.44 after 07/01/94 and before 07/01/98. PLUS.................... First disbursed on/ 2.34 3.10 10.00 5.44 after 10/01/92 and before 07/01/94. SLS..................... First disbursed on/ 2.34 3.10 11.00 5.44 after 10/01/92,for a period of enrollment beginning before 07/ 01/94. PLUS.................... First disbursed before 2.34 3.25 12.00 5.59 10/01/92. SLS ---------------------------------------------------------------------------------------------------------------- Chart 3--``Converted'' Variable-Rate Subsidized and Unsubsidized Federal Stafford Loans [Interest rate based on 91-day treasury bill] -------------------------------------------------------------------------------------------------------------------------------------------------------- Interest rate Original fixed interest 91-day T-bill Maximum rate 07/01/18 Loan type Cohort rate (later converted rate 05/29/18 Add-on (%) (%) through 06/30/ to variable rate) (%) (%) 19 (%) -------------------------------------------------------------------------------------------------------------------------------------------------------- Subsidized Stafford.................. First disbursed on or 8.00, increasing to 1.93 3.10 10.00 5.03 Unsubsidized Stafford................ after 07/23/92 and 10.00. before 07/01/94 (prior borrowers). Subsidized Stafford.................. First disbursed on or 9.00................... 1.93 3.10 9.00 5.03 Unsubsidized Stafford................ after 07/23/92 and before 07/01/94 (prior borrowers). Subsidized Stafford.................. First disbursed on or 8.00................... 1.93 3.10 8.00 5.03 Unsubsidized Stafford................ after 07/23/92 and before 07/01/94 (prior borrowers). Subsidized Stafford.................. First disbursed on or 7.00................... 1.93 3.10 7.00 5.03 Unsubsidized Stafford................ after 07/23/92 and before 07/01/94 (prior borrowers). Subsidized Stafford.................. First disbursed on or 8.00, increasing to 1.93 3.25 10.00 5.18 Unsubsidized Stafford................ after 07/23/92 and 10.00. before 10/01/92 (new borrowers). Subsidized Stafford.................. First disbursed on or 8.00, increasing to 1.93 3.25 10.00 5.18 Unsubsidized Stafford................ after 07/01/88 and 10.00. before 07/23/92. -------------------------------------------------------------------------------------------------------------------------------------------------------- Chart 4--Federal Consolidation Loans -------------------------------------------------------------------------------------------------------------------------------------------------------- Average of the bond equivalent rates of the Interest rate Consolidation loan component Cohort 91-day T-bill rate 05/ 91-day T-bills Add-on (%) Maximum rate 07/01/18 29/18 (%) auctioned for (%) through 06/30/ the quarter 19 (%) ending 06/30/ 18 (%) -------------------------------------------------------------------------------------------------------------------------------------------------------- Portion of loan that repaid loans Application received on/ 1.93................... N/A 3.10 8.25 5.03 other than HEAL loans. after 11/13/97 and before 10/01/98. Portion of the loan that repaid HEAL Application received on/ N/A.................... 1.88 3.00 None 4.88 loans. after 11/13/97. -------------------------------------------------------------------------------------------------------------------------------------------------------- Electronic Access to This Document: The official version of this document is the document published in the Federal Register. You may access the official edition of the Federal Register and the Code of Federal Regulations via the [[Page 53864]] 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 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: October 22, 2018. James F. Manning, Acting Chief Operating Officer, Federal Student Aid. [FR Doc. 2018-23371 Filed 10-24-18; 8:45 am] BILLING CODE 4000-01-P
![Federal Register / Vol. 83, No. 207 / Thursday, October 25, 2018 / Notices 53861
ACTION: Notice. respondents, including through the use SUMMARY: The Acting Chief Operating
of information technology. Please note Officer for Federal Student Aid
SUMMARY: In accordance with the that written comments received in announces the interest rates for loans
Paperwork Reduction Act of 1995, ED is response to this notice will be made under the Federal Family
proposing a reinstatement of a considered public records. Education Loan (FFEL) Program that
previously approved information Title of Collection: Survey on the Use have variable interest rates. The rates
collection. of Funds Under Title II, Part A: announced in this notice are in effect for
DATES: Interested persons are invited to Supporting Effective Instruction the period July 1, 2018, through June 30,
submit comments on or before Grants—Subgrants to LEAs. 2019.
November 26, 2018. OMB Control Number: 1810–0618. FOR FURTHER INFORMATION CONTACT: Jon
ADDRESSES: To access and review all the Type of Review: A reinstatement of a Utz, U.S. Department of Education, 830
documents related to the information previously approved information First Street NE, 11th Floor, Washington,
collection listed in this notice, please collection. DC 20202. Telephone: (202) 377–4040
use http://www.regulations.gov by Respondents/Affected Public: State, or by email: Jon.Utz@ed.gov.
searching the Docket ID number ED– Local, and Tribal Governments. If you use a telecommunications
Total Estimated Number of Annual device for the deaf (TDD) or a text
2017–ICCD–0149. Comments submitted
Responses: 4,326. telephone (TTY), call the Federal Relay
in response to this notice should be Total Estimated Number of Annual
submitted electronically through the Service (FRS), toll free, at 1–800–877–
Burden Hours: 8,577.
Federal eRulemaking Portal at http:// Abstract: The Elementary and 8339.
www.regulations.gov by selecting the Individuals with disabilities can
Secondary Education Act of 1965, as
Docket ID number or via postal mail, obtain this document in an accessible
reauthorized by the Every Student
commercial delivery, or hand delivery. format (e.g., braille, large print,
Succeeds Act of 2015 (ESSA), provides
Please note that comments submitted by audiotape, or compact disc) on request
funds to States to prepare, train, and
fax or email and those submitted after to the contact person listed under FOR
recruit high-quality teachers, principals,
the comment period will not be FURTHER INFORMATION CONTACT.
and other school leaders. These funds
accepted. Written requests for SUPPLEMENTARY INFORMATION: Catalog of
are provided to districts through Title II,
information or comments submitted by Part A (Supporting Effective Instruction Federal Domestic Assistance (CFDA)
postal mail or delivery should be Grants). The purpose of these surveys is Number: 84.032.
addressed to the Director of the to provide the U.S. Department of Section 427A of the Higher Education
Information Collection Clearance Education with a better understanding Act of 1965, as amended (HEA) (20
Division, U.S. Department of Education, of how local educational agencies U.S.C. 1077a), provides formulas for
550 12th Street SW, PCP, Room 9088, (LEAs) utilize these funds. This survey determining the interest rates charged to
Washington, DC 20202–0023. also collects data on teacher salaries borrowers on loans made under the
FOR FURTHER INFORMATION CONTACT: For funded by Title II, Part A, and FFEL Program, including Federal
specific questions related to collection professional development provided by Subsidized and Unsubsidized Stafford
activities, please contact Bryan LEAs to their teachers. Loans (Stafford Loans), Federal PLUS
Thurmond, 202–205–4914. Similar data have been collected Loans (PLUS Loans), Federal
under the Survey on the Use of Funds Consolidation Loans (Consolidation
SUPPLEMENTARY INFORMATION: The
Under Title II, Part A prior to Loans), and Federal Supplemental
Department of Education (ED), in
reauthorization of ESEA. This OMB Loans for Students (SLS Loans). No new
accordance with the Paperwork
clearance request is to continue these loans have been made under the FFEL
Reduction Act of 1995 (PRA) (44 U.S.C. Program since June 30, 2010.
3506(c)(2)(A)), provides the general types of analyses, but using new data
The FFEL Program includes loans
public and Federal agencies with an collection instruments updated to
with variable interest rates that change
opportunity to comment on proposed, reflect changes due to the
each year and loans with fixed interest
revised, and continuing collections of reauthorization of ESEA by the ESSA.
rates that remain the same for the life of
information. This helps the Department The request is to begin data collection
the loan. For loans with a variable
assess the impact of its information and analyses for the 2018–19 school
interest rate, the specific interest rate
collection requirements and minimize year and subsequent years.
formula that applies to a particular loan
the public’s reporting burden. It also Dated: October 19, 2018. depends on the date of the first
helps the public understand the Tomakie Washington, disbursement of the loan or, in the case
Department’s information collection Acting Director, Information Collection of a Consolidation Loan, the date the
requirements and provide the requested Clearance Division, Office of the Chief Privacy application for the loan was received. If
data in the desired format. ED is Officer, Office of Management. a loan has a variable interest rate, a new
soliciting comments on the proposed [FR Doc. 2018–23275 Filed 10–24–18; 8:45 am] rate is determined annually and is in
information collection request (ICR) that BILLING CODE 4000–01–P effect during the period from July 1 of
is described below. The Department of one year through June 30 of the
Education is especially interested in following year.
public comment addressing the DEPARTMENT OF EDUCATION This notice announces the interest
following issues: (1) Is this collection rates for variable-rate FFEL Program
necessary to the proper functions of the Annual Notice of Interest Rates for loans that will be in effect during the
Department; (2) will this information be Variable-Rate Federal Student Loans period from July 1, 2018, through June
daltland on DSKBBV9HB2PROD with NOTICES
processed and used in a timely manner; Made Under the Federal Family 30, 2019. Interest rates for fixed-rate
(3) is the estimate of burden accurate; Education Loan Program Prior to July FFEL Program loans may be found in a
(4) how might the Department enhance 1, 2010 Federal Register notice published on
the quality, utility, and clarity of the AGENCY: Federal Student Aid, September 15, 2015 (80 FR 55342).
information to be collected; and (5) how Department of Education. For the majority of variable-rate FFEL
might the Department minimize the Program loans, the annual interest rate
ACTION: Notice.
burden of this collection on the is equal to the lesser of—
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![53862 Federal Register / Vol. 83, No. 207 / Thursday, October 25, 2018 / Notices
(1) The bond equivalent rate of the 91- (1) The bond equivalent rate of the 91- statutory maximum interest rate, the
day Treasury bills auctioned at the final day Treasury bill auctioned at the final statutory maximum rate applies.
auction held before June 1 of each year, auction held before June 1 of each year, Charts 1 through 4 show the interest
plus a statutory add-on percentage; or plus a statutory add-on percentage; or rate formulas that are used to determine
(2) A statutorily established maximum (2) A statutorily established maximum the interest rates for all variable-rate
interest rate. interest rate. FFEL Program loans and the interest
The bond equivalent rate of the 91- If a Consolidation Loan (whether a rates that are in effect during the 12-
day Treasury bills auctioned on May 29, variable-rate loan or a fixed-rate loan) month period from July 1, 2018, through
2018, is 1.931 percent, rounded to 1.93 repaid loans made under the HEAL June 30, 2019. Unless otherwise
percent. Program, the interest rate on the portion indicated, the cohorts shown in each
For PLUS Loans first disbursed before of the Consolidation Loan that repaid chart include all borrowers, regardless
July 1, 1998, and for all SLS Loans, the HEAL loans is a variable rate that is of prior borrowing.
annual interest rate is equal to the lesser equal to the average of the bond Chart 1 shows the interest rates for
of— equivalent rates of the 91-day Treasury loans with rates based on the 91-day
(1) The weekly average of the one-year bills auctioned for the quarter ending Treasury bill, with the exception of
constant maturity Treasury yield, as June 30, plus a statutory add-on ‘‘converted’’ variable-rate Federal
published by the Board of Governors of percentage. For the portion of a Stafford Loans and certain Federal
the Federal Reserve System for the last Consolidation Loan that repaid HEAL Consolidation Loans.
day of the calendar week ending on or loans, there is no maximum interest
before June 26 of each year, plus a rate. Chart 2 shows the interest rates for
statutory add-on percentage; or The average of the bond equivalent loans with rates based on the weekly
(2) A statutorily established maximum rates of the 91-day Treasury bills average of the one-year constant
interest rate. auctioned for the quarter ending on June maturity Treasury yield.
The weekly average of the one-year 30, 2018, is 1.88 percent. Chart 3 shows the interest rates for
constant maturity Treasury yield as The statutory add-on percentages and ‘‘converted’’ variable-rate Federal
published for the week ending on or maximum interest rates vary depending Stafford Loans. These are loans that
before June 26, 2018, is 2.34 percent. on loan type and when the loan was originally had varying fixed interest
For Consolidation Loans that have a first disbursed. In addition, the add-on rates.
variable interest rate, the annual interest percentage for certain Stafford Loans is Finally, Chart 4 shows the interest
rate for the portion of a Consolidation different depending on whether the loan rates for variable-rate Federal
Loan that repaid loans other than loans is in an in-school, grace, or deferment Consolidation Loans, and for the portion
made under the Health Education status, or in any other status. If the of any Federal Consolidation Loan that
Assistance Loans (HEAL) Program is interest rate calculated in accordance repaid loans made under the HEAL
equal to— with the applicable formula exceeds the Program.
CHART 1—SUBSIDIZED FEDERAL STAFFORD LOANS, UNSUBSIDIZED FEDERAL STAFFORD LOANS, AND FEDERAL PLUS
LOANS
[Interest rate based on 91-day treasury bill]
Loan type Cohort 91-day T-bill Add-on (%) Maximum rate Interest rate 07/01/18 through 06/
rate 05/29/18 (%) 30/19 (%)
(%)
Subsidized Stafford .................... First disbursed on/ 1.93 1.70 (in-school, 2.30 (any other 8.25 3.63 (in-school, 4.23 (any other
Unsubsidized Stafford after 07/01/98 and grace, status). grace, status).
before 07/01/06. deferment). deferment).
PLUS .......................................... First disbursed on/ 1.93 3.10 9.00 5.03
after 07/01/98 and
before 07/01/06.
Subsidized Stafford .................... First disbursed on/ 1.93 2.50 (in-school, 3.10 (any other 8.25 4.43 (in-school, 5.03 (any other
Unsubsidized Stafford after 07/01/95 and grace, status). grace, status).
before 07/01/98. deferment). deferment).
Subsidized Stafford .................... First disbursed on/ 1.93 3.10 8.25 5.03
Unsubsidized Stafford after 07/01/94 and
before 07/01/95, for
a period of enroll-
ment that included
or began on or after
07/01/94.
Subsidized Stafford .................... First disbursed on/ 1.93 3.10 9.00 5.03
Unsubsidized Stafford after 10/01/92 and
before 07/01/94;
and
daltland on DSKBBV9HB2PROD with NOTICES
First disbursed on/
after 07/01/94, for a
period of enrollment
ending before 07/
01/94 (new bor-
rowers)
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![Federal Register / Vol. 83, No. 207 / Thursday, October 25, 2018 / Notices 53863
CHART 2—FEDERAL PLUS LOANS AND SLS LOANS
[Interest rate based on weekly average of one-year constant maturity treasury yield]
Weekly
average of
1-year con-
stant Interest rate
maturity 07/01/18
treasury yield Add-on Maximum rate
Loan type Cohort through 06/30/
for last cal- (%) (%) 19
endar week (%)
ending on or
before 06/26/
18
(%)
PLUS ........... First disbursed on/after 07/01/94 and before 07/01/98 ......... 2.34 3.10 9.00 5.44
PLUS ........... First disbursed on/after 10/01/92 and before 07/01/94 ......... 2.34 3.10 10.00 5.44
SLS .............. First disbursed on/after 10/01/92,for a period of enrollment 2.34 3.10 11.00 5.44
beginning before 07/01/94.
PLUS ........... First disbursed before 10/01/92 ............................................. 2.34 3.25 12.00 5.59
SLS
CHART 3—‘‘CONVERTED’’ VARIABLE-RATE SUBSIDIZED AND UNSUBSIDIZED FEDERAL STAFFORD LOANS
[Interest rate based on 91-day treasury bill]
Original fixed Interest rate
interest rate 91-day T-bill 07/01/18
(later Add-on Maximum rate
Loan type Cohort rate 05/29/18 through 06/30/
converted to (%) (%)
(%) 19
variable rate) (%)
(%)
Subsidized Stafford .............. First disbursed on or after 8.00, increas- 1.93 3.10 10.00 5.03
Unsubsidized Stafford 07/23/92 and before 07/ ing to 10.00.
01/94 (prior borrowers).
Subsidized Stafford .............. First disbursed on or after 9.00 .............. 1.93 3.10 9.00 5.03
Unsubsidized Stafford 07/23/92 and before 07/
01/94 (prior borrowers).
Subsidized Stafford .............. First disbursed on or after 8.00 .............. 1.93 3.10 8.00 5.03
Unsubsidized Stafford 07/23/92 and before 07/
01/94 (prior borrowers).
Subsidized Stafford .............. First disbursed on or after 7.00 .............. 1.93 3.10 7.00 5.03
Unsubsidized Stafford 07/23/92 and before 07/
01/94 (prior borrowers).
Subsidized Stafford .............. First disbursed on or after 8.00, increas- 1.93 3.25 10.00 5.18
Unsubsidized Stafford 07/23/92 and before 10/ ing to 10.00.
01/92 (new borrowers).
Subsidized Stafford .............. First disbursed on or after 8.00, increas- 1.93 3.25 10.00 5.18
Unsubsidized Stafford 07/01/88 and before 07/ ing to 10.00.
23/92.
CHART 4—FEDERAL CONSOLIDATION LOANS
Average of the
bond
equivalent Interest rate
rates of the
91-day T-bill 07/01/18
Consolidation loan 91-day T-bills Add-on Maximum rate
Cohort rate 05/29/18 through 06/30/
component auctioned for (%) (%)
(%) 19
the quarter (%)
ending 06/30/
18
(%)
Portion of loan that repaid Application received on/ 1.93 .............. N/A 3.10 8.25 5.03
loans other than HEAL after 11/13/97 and before
loans. 10/01/98.
daltland on DSKBBV9HB2PROD with NOTICES
Portion of the loan that re- Application received on/ N/A ............... 1.88 3.00 None 4.88
paid HEAL loans. after 11/13/97.
Electronic Access to This Document: the document published in the Federal edition of the Federal Register and the
The official version of this document is Register. You may access the official Code of Federal Regulations via the
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![53864 Federal Register / Vol. 83, No. 207 / Thursday, October 25, 2018 / Notices
Federal Digital System at: www.gpo.gov/ FOR FURTHER INFORMATION CONTACT: For counted for 90/10 purposes. The
fdsys. At this site you can view this specific questions related to collection regulations require an institution to
document, as well as all other activities, please contact Beth disclose in a footnote to its audited
documents of this Department Grebeldinger, 202–377–4018. financial statements the amounts of
published in the Federal Register, in SUPPLEMENTARY INFORMATION: The Federal and non-Federal revenues, by
text or Portable Document Format Department of Education (ED), in category, that it used in calculating its
(PDF). To use PDF you must have accordance with the Paperwork 90/10 ratio (see section 487(d) of the
Adobe Acrobat Reader, which is Reduction Act of 1995 (PRA) (44 U.S.C. HEA). This is a request to extend the
available free at the site. 3506(c)(2)(A)), provides the general information collection that identifies the
You may also access documents of the public and Federal agencies with an reporting burden for this regulation.
Department published in the Federal opportunity to comment on proposed, Dated: October 22, 2018.
Register by using the article search revised, and continuing collections of Kate Mullan,
feature at: www.federalregister.gov. information. This helps the Department
Specifically, through the advanced Acting Director, Information Collection
assess the impact of its information Clearance Division, Office of the Chief Privacy
search feature at this site, you can limit collection requirements and minimize Officer, Office of Management.
your search to documents published by the public’s reporting burden. It also [FR Doc. 2018–23364 Filed 10–24–18; 8:45 am]
the Department. helps the public understand the BILLING CODE 4000–01–P
Program Authority: 20 U.S.C. 1071 et seq. Department’s information collection
Dated: October 22, 2018. requirements and provide the requested
James F. Manning, data in the desired format. ED is DEPARTMENT OF EDUCATION
Acting Chief Operating Officer, Federal soliciting comments on the proposed
Student Aid. information collection request (ICR) that Annual Notice of Interest Rates for
is described below. The Department of Fixed-Rate Federal Student Loans
[FR Doc. 2018–23371 Filed 10–24–18; 8:45 am]
Education is especially interested in Made Under the William D. Ford
BILLING CODE 4000–01–P
public comment addressing the Federal Direct Loan Program
following issues: (1) Is this collection
AGENCY: Federal Student Aid,
DEPARTMENT OF EDUCATION necessary to the proper functions of the
Department of Education.
Department; (2) will this information be
[Docket No.: ED–2018–ICCD–0111] processed and used in a timely manner; ACTION: Notice.
(3) is the estimate of burden accurate; SUMMARY: The Acting Chief Operating
Agency Information Collection
(4) how might the Department enhance Officer for Federal Student Aid
Activities; Comment Request; Student
the quality, utility, and clarity of the announces the interest rates for Federal
Assistance General Provisions—Non-
information to be collected; and (5) how Direct Stafford/Ford Loans (Direct
Title IV Revenue Requirements (90/10)
might the Department minimize the Subsidized Loans), Federal Direct
AGENCY: Federal Student Aid (FSA), burden of this collection on the Unsubsidized Stafford/Ford Loans
Department of Education (ED). respondents, including through the use (Direct Unsubsidized Loans), and
ACTION: Notice. of information technology. Please note Federal Direct PLUS Loans (Direct PLUS
that written comments received in Loans) made under the William D. Ford
SUMMARY: In accordance with the response to this notice will be
Paperwork Reduction Act of 1995, ED is Federal Direct Loan (Direct Loan)
considered public records. Program with first disbursement dates
proposing an extension of an existing Title of Collection: Student Assistance
information collection. on or after July 1, 2018, and before July
General Provisions—Non-Title IV 1, 2019.
DATES: Interested persons are invited to Revenue Requirements (90/10).
submit comments on or before FOR FURTHER INFORMATION CONTACT: Jon
OMB Control Number: 1845–0096.
December 24, 2018. Type of Review: An extension of an Utz, U.S. Department of Education, 830
ADDRESSES: To access and review all the existing information collection. First Street NE, 11th Floor, Washington,
documents related to the information Respondents/Affected Public: Private DC 20202. Telephone: (202) 377–4040
collection listed in this notice, please Sector. or by email: Jon.Utz@ed.gov.
use http://www.regulations.gov by Total Estimated Number of Annual If you use a telecommunications
searching the Docket ID number ED– Responses: 1,872. device for the deaf (TDD) or a text
2018–ICCD–0111. Comments submitted Total Estimated Number of Annual telephone (TTY), call the Federal Relay
in response to this notice should be Burden Hours: 2,808. Service (FRS), toll free, at 1–800–877–
submitted electronically through the Abstract: As enacted by the Higher 8339.
Federal eRulemaking Portal at http:// Education Opportunity Act (Pub. L. SUPPLEMENTARY INFORMATION: Catalog of
www.regulations.gov by selecting the 110–315), the regulations in 34 CFR Federal Domestic Assistance (CFDA)
Docket ID number or via postal mail, 668.28 provide that a proprietary Number: 84.268.
commercial delivery, or hand delivery. institution must derive at least 10% of Direct Subsidized Loans, Direct
Please note that comments submitted by its annual revenue from sources other Unsubsidized Loans, Direct PLUS
fax or email and those submitted after than Title IV, HEA funds, sanctions for Loans, and Direct Consolidation Loans
the comment period will not be failing to meet this requirement, and (collectively referred to as ‘‘Direct
accepted. Written requests for otherwise implement the statute by (1) Loans’’) may have either fixed or
daltland on DSKBBV9HB2PROD with NOTICES
information or comments submitted by specifying a Net Present Value (NPV) variable interest rates, depending on
postal mail or delivery should be formula used to establish the revenue when the loan was first disbursed or, in
addressed to the Director of the for institutional loans, (2) providing an the case of a Direct Consolidation Loan,
Information Collection Clearance administratively easier alternative to the when the application for the loan was
Division, U.S. Department of Education, NPV calculation, and (3) describing received. Direct Subsidized Loans,
550 12th Street SW, PCP, Room 9086, more fully the non-Title IV eligible Direct Unsubsidized Loans, and Direct
Washington, DC 20202–0023. programs from which revenue may be PLUS Loans first disbursed on or after
VerDate Sep<11>2014 18:10 Oct 24, 2018 Jkt 247001 PO 00000 Frm 00018 Fmt 4703 Sfmt 4703 E:\FR\FM\25OCN1.SGM 25OCN1](https://thefederalregister.org/doc/83_FR_54068/page/4.svg)
Document Created: 2018-10-25 01:45:18
Document Modified: 2018-10-25 01:45:18
| 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. | |
| Contact | Jon Utz, U.S. Department of Education, 830 First Street NE, 11th Floor, Washington, DC 20202. Telephone: (202) 377-4040 or by email: [email protected] | |
| FR Citation | 83 FR 53861 |
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