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Special Allowance Rates Calculated from Quarter Ending September 30, 2000 |
LOUISIANA
STUDENT FINANCIAL ASSISTANCE COMMISSION
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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 |
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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.