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Special Allowance Rates Calculated from Quarter Ending June 30, 2000 |
LOUISIANA
STUDENT FINANCIAL ASSISTANCE COMMISSION
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TO: |
Lenders and Schools |
DATE: |
July 6, 2000 |
TOPIC: |
Special Allowance Rates Calculated from Quarter Ending June 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 Rate |
| Loans prior to 10/1/81 | ||
| 7% | .0250 | .006250 |
| 9% | .0050 | .001250 |
| Loans from 10/1/81 to 11/16/86 | ||
| 7% | .0244 | .006100 |
| 8% | .0144 | .003600 |
| 9% | .0044 | .001100 |
| 12-14% | .0000 | .000000 |
| Loans from 11/16/86 to 10/1/92 | ||
| 7% | .0219 | .005475 |
| 7.72% | .0147 | .003625 |
| 7.87% | .0132 | .003300 |
| 8% | .0119 | .002975 |
| 9% | .0019 | .000475 |
| 10-14% | .0000 | .000000 |
| Loans from 10/1/92 to 7/1/98 | ||
| 6% | .0304 | .007600 |
| 7% | .0204 | .005100 |
| 7.72% | .0132 | .003300 |
| 7.98% | .0106 | .002650 |
| 8% | .0104 | .002600 |
| 9% | .0004 | .000100 |
| 10-14% | .0000 | .000000 |
| Loans from 7/1/95 to 7/1/98 only during in-school, grace and deferment | ||
| 7.12% | .0132 | .003300 |
| Loans from 7/1/98 to 1/1/00 only during in-school, grace and deferment | ||
| 6.32% | .0182 | .004550 |
| Loans from 7/1/98 to 1/1/00 except during in-school, grace and deferment | ||
| 6.92% | .0182 | .004550 |
| Annual Rate | Allowance at Annual Rate | Quarterly Factor |
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Tax-exempt Loans |
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| Tax-exempt loans prior to 10/1/81 | ||
| 7% | .0250 | .006250 |
| 9% | .0050 | .001250 |
| Tax-exempt loans from 10/1/81 | ||
| 6% | .0350 | .008750 |
| 6.32% | .0318 | .007950 |
| 6.92% | .0258 | .006450 |
| 7% | .0250 | .006250 |
| 7.12% | .0238 | .005950 |
| 7.72% | .0178 | .004450 |
| 7.87% | .0163 | .004075 |
| 7.98% | .0152 | .003800 |
| 8% | .0150 | .003750 |
| 9% | .0050 | .001250 |
| 10%-14% | .0000 | .000000 |
| Loans from 1/1/2000 to 7/1/2003 only during in-school, grace and deferment | ||
| 6.32% | .0208 | .005200 |
| Loans from 1/1/00 to 7/1/03, except during in-school, grace and deferment | ||
| 6.92% | .0208 | .005200 |
NOTE: The current interest rate for PLUS loans is 7.72%. Since this rate does not exceed the 9% cap, no special allowance will be paid during the period 7/1/99 through 6/30/2000.
The average bond equivalent rate of the ninety-one day Treasury bills auctioned during the quarter ending June 30, 2000 is 5.94%. 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 June 30, 2000 is 6.66%.
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