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Period Begin: July 1, 2007
Period End: June 30, 2008
Posted on 06-26-2007
The attached charts show the variable interest rates applicable to the Federal
Stafford, Federal SLS, Federal PLUS, and Federal Consolidation loan programs
for the period July 1, 2007 - June 30, 2008. Interest rates for variable-rate
loans under these programs are determined annually, and are based on the following:
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Stafford Loans - based on the bond equivalent rate of 91-day Treasury
Bills auctioned at the final auction held before June 1st of each year.
The bond equivalent rate for 91-day Treasury Bills auctioned on May 29,
2007 is 4.919 percent, which rounds to 4.92 percent.
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PLUS/SLS Loans - based on either the bond equivalent rate of 91-day
Treasury Bills auctioned at the final auction held before June 1st of each
year, or the weekly average of the one-year constant maturity Treasury yield
as published for the last calendar week ending on or before June 26th of
each year. The bond equivalent rate for 91-day Treasury Bills auctioned
on May 29, 2007, is 4.919 percent, which rounds to 4.92 percent.
The weekly average of the one-year constant maturity Treasury yield for
the last calendar week ending on or before June 26th is 4.95 percent.
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Consolidation Loans - for which the loan application was received
by an eligible lender on or after 11/13/97 but prior to 10/1/98 are based
on the bond equivalent rate of 91-day Treasury Bills auctioned at the final
auction held before June 1st of each year, or 4.92 percent. For the
HEAL portion of consolidation loans for which the loan application was received
by an eligible lender on or after 11/13/97, the rate is based on the average
of the bond equivalent rates of the 91-day Treasury Bills auctioned for
the quarter ending June 30th of each year, or 4.895 percent which rounds
to 4.90 percent.
These rates do not affect new Federal Stafford or Federal PLUS loans made on
or after July 1, 2006 that are subject to fixed-rates of 6.8% and 8.5%, respectively.
Accounting Division
Office of the Chief Financial Officer
Attachments/Enclosures:
Federal Stafford, Federal PLUS, Federal SLS, and Federal Consolidation Interest Rate Calculations for the Period July 1, 2007 - June 30, 2008 in PDF Format, 75KB, 8 pages
Federal Stafford, Federal PLUS, Federal SLS, and Federal Consolidation Interest Rate Calculations for the Period July 1, 2007 - June 30, 2008 in Microsoft Word Format, 75KB, 8 pages
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