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Special Allowance Rates Calculated from Quarter Ending December 31, 1998 |
LOUISIANA STUDENT FINANCIAL ASSISTANCE COMMISSION
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TO: |
Lenders and Schools |
DATE: |
January 7, 1999 |
TOPIC: |
Special Allowance Rates Calculated from Quarter Ending December 31, 1998 |
To assure that your Common Manual remains current, please record this document on your LPM/LPB index, and retain it in Appendix E of your manual.
Allowance at Quarterly
Annual Rate Annual Rate Factor
Loans prior to 10/1/81
7%
.01
.002
9%
.00
.0000
Loans from 10/1/81 to 11/16/86
7%
.009
.00225
8-14%
.0000
.0000
Loans from 11/16/86 to 10/1/92
7%
.0065
.001625
8-14%
.0000
.0000
Loans from 10/1/92 to 7/1/98
6%
.015
.00375
7%
.005
.00125
8-14%
.0000
.0000
Loans from 7/1/95 to 7/1/98 only during in-school, grace and deferment
7.66% .0000 .0000
Loans from 7/1/98 to 7/1/03 except during in-school, grace and deferment
7.46% .0000 .0000
Loans from 7/1/98 to 7/1/03 only during in-school, grace and deferment
6.86% .0000 .0000
Allowance at Quarterly
Annual Rate Annual Rate Factor
Tax-exempt Loans
Tax-exempt loans prior to 10/1/81
7%
.025
.00625
9%
.005
.00125
Tax-exempt loans from 10/1/81
6%
.035
.00875
6.86%
.0264
.0066
7%
.025
.00625
7.46%
.0204
.0051
7.66%
.0184
.0046
8%
.015
.00375
8.25%
.0125
.003125
8.26%
.0124
.0031
8.41%
.0109
.002725
8.53
.0097
.002425
9%
.0050
.00125
10%-14%
.0000
.0000
The average bond equivalent rate of the ninety-one day Treasury bills auctioned during the quarter ending December 31, 1998 is 4.40%.