7%	.0250	.006250
9%	.0050	.001250

Tax-exempt loans from 10/1/81

6%11	.0350	.008750
7%12	.0250	.006250
7.59%13	.0191	.004775

 

⁸ (a) All Stafford loans made for periods of enrollment that either begin on/after 7/1/94 or include that date for which the first disbursement is made on/after 7/1/94 but prior to 7/1/95, (b) Stafford loans for which the first disbursement is made on/after 7/1/95 and before 7/1/98, except during the in-school, grace and deferment periods, and (c) consolidation loans for which the loan application was received on/after 11/13/97 and prior to 10/1/98.

⁹ (a) Stafford loans, made to new borrowers, for which the first disbursement is made on/after 10/1/92 but prior to 7/1/94, (b) fixed-rate 9% Stafford loans that were subject to the "windfall profits" provisions of 427A(i)(3) of the Act and that have been converted to a variable rate; see 427A(i)(7)(D) of the Act and (c) 8/10% Stafford loans (on/after the 49th month of repayment) that were subject to the "windfall profits" provisions of 427A(i)(3) of the Act and that have been converted to a variable rate (1992 amendments).

¹⁰ PLUS loans made on/after 7/1/94 but prior to 7/1/98.

¹¹ The 6% interest and special alloance rates only apply to Consolidation loans made on/after 7/1/94 with tax-exempt funds; the 10%, 11%, 13%, and 14% interest and special allowance rates only apply to consolidation loans made with tax-exempt funds.

¹² Fixed-rate 7% Stafford loans that were subject to the "windfall profits" provisions of 427A(i)(3) of the Act and that have been converted to a variable rate, see 427A(i)(7)(D) of the Act.

¹³ Stafford loans made on/after 7/1/98 but prior to 7/1/03, only during the in-school, grace, and deferment periods.

Applicable Annual Interest Rate	Special Allowance at Annual Rate	Special Allowance For 3-Month Period
8%14	.0150	.003750
8.19%15	.0131	.003275
8.25%16	.0125	.003125
8.99%17	.0051	.001275
9%18	.0050	.001250
9.14%19	.0036	.000900
10%-14%	.0000	.000000

Stafford loans from 1/1/2000 to 7/1/2003 only during in-school, grace and deferment

7.59%

.0082

.002050

Stafford loans from 1/1/2000 to 7/1/2003, except during in-school, grace and deferment

8.19%

.0082

.002050

The current interest rate for PLUS loans from 1/1/2000-7/1/2003 is 8.99%. Formula: (6.67%) plus (2.64%) less (applicable interest rate) = annual special allowance rate. 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 interest rate for Consolidation loans for applications received on/after 1/1/2000 but prior to 7/1/2003 is determined by taking the weighted average of the interest rates on the loans being consolidated, rounded to the nearest higher 1/8th of one percent. Therefore, due to the wide range of possible applicable interest rates, no further calculations are shown here.

 

¹⁴ (a) Fixed-rate 8% Stafford loans, and (b) 8/10% Stafford loans (prior to the 49th month of repayment) that were subject to the "windfall profits" provisions of 427A(i)(3) of the Act and that have been converted to a variable rate. Also see 427A(i)(7)(D) of the Act.

¹⁵ Stafford loans made on/after 7/1/98 but prior to 7/1/03, except during the in-school, grace and deferment periods.

¹⁶ (a) All Stafford loans made for periods of enrollment that either begin on/after 7/1/94 or include that date for which the first disbursement is made on/after 7/1/94 but prior to 7/1/95, and (b) all Stafford loans for which the first disbursement is made on/after 7/1/95 and before 7/1/98, regardless of status.

¹⁷ (a) Stafford loans, made to new borrowers, for which the first disbursement is made on/after 10/1/92 but prior to 7/1/94 (b) fixed-rate 9% Stafford loans and that were subject to the "windfall profits" provisions of 427A(i)(3) of the Act and that have been converted to a variable rate; See 427A(i)(7)(D) of the Act and (c) 8/10% Stafford loans (on/after the 49th month of repayment) that were subject to the "windfall profits" provisions of 427A(i)(3) of the Act and that have been converted to a variable rate (1992 Amendments).

¹⁸ PLUS loans made on/after 7/1/94 but prior to 7/1/98.

¹⁹ Fixed-rate 8/10% Stafford loans that were subject to the "windfall profits" provisions of 427A(i)(1) of the Act and that have been converted to a variable rate; see 427A(i)(7)(D) of the Act (1986 Amendments).

 

The average of the bond equivalent rate of the ninety-one day Treasury bills auctioned during the quarter ending December 31, 2000 is 6.23%. 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 December 31, 2000 is 6.67%.

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.