Special Allowance Rates Calculated from Quarter Ending September 30, 2000

LOUISIANA STUDENT FINANCIAL ASSISTANCE COMMISSION
OFFICE OF STUDENT FINANCIAL ASSISTANCE

LOAN PROGRAM BULLETIN
TO:
 Lenders
DATE:
 October 9, 2000
TOPIC:
 Special Allowance Rates Calculated from Quarter Ending September 30, 2000

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.

 

Annual Rate Allowance at Annual Rate Quarterly Factor
Loans prior to 10/1/81

                       7%

 .0275 .006875

                       9%

 .0075 .001875
Loans from 10/1/81 to 11/16/86
                       7% .0269 .006725
                       8% .0169 .004225
                       9% .0069 .001725

            12% - 14%

 .0000 .000000
Loans from 11/16/86 to 10/1/92

                       7%

 .0244 .006100

                       8%

 .0144 .003600

                  8.99%

 .0045 .001125

                       9%

 .0044 .001100

                  9.14%

 .0030 .000750
           10% - 14% .0000 .000000
Loans from 10/1/92 to 7/1/98
                      6% .0329 .008225
                      7% .0229 .005725
                      8% .0129 .003225

                 8.25%

.0104 .002600
                 8.99% .0030 .000750

                      9%

 .0029 .000725

             10 - 14%

 .0000 .000000
Loans from 7/1/95 to 7/1/98 only during in-school, grace and deferment    

                 8.25%

 .0044 .001100
Loans from 7/1/98 to 1/1/2000 only during in-school, grace and deferment    

                 7.59%

 .0080 .002000
Loans from 7/1/98 to 1/1/2000 except during in-school, grace and deferment  

 

                 8.19%

 .0080 .00200
     
Annual Rate Allowance at Annual Rate Quarterly Factor
     
  Tax-exempt Loans  
     
Tax-exempt loans prior to 10/1/81    

                      7%

 .0250 .006250

                      9%

 .0050 .001250
Tax-exempt loans from 10/1/81    
                      6% .0350 .008750
                      7% .0250 .006250

                 7.59%

 .0191 .004775

                      8%

 .0150 .003750

                 8.19%

 .0131 .003275
                 8.25% .0125 .003125
                 8.99% .0051 .001275

                      9%

 .0050 .001250

                 9.14%

 .0036 .000900

          10% - 14%

 .0000 .000000
Loans from 1/1/2000 to 7/1/2003 only during in-school, grace and deferment    

                 7.59%

 .0087 .002175
Loans from 1/1/2000 to 7/1/2003 except during in-school, grace and deferment    

                 8.19%

 .0087 .002175

NOTE: The current interest rate for PLUS loans is 8.99%. Since this rate does not exceed the 9% cap, no special allowance will be paid during the period 7/1/2000 through 6/30/2001.

The average bond equivalent rate of the ninety-one day Treasury bills auctioned during the quarter ending September 30, 2000 is 6.19%. The average of the bond equivalent rates of the quotes of the 3-month commercial paper (financial) rates in effect for each of the days in the quarter ending September 30, 2000 is 6.72%.

 

This information may be accessed directly from the U.S. Department of Education’s website, at http://www.ifap.ed.gov/csb_html/ffelrate.htm.