|
Variable
Interest Rates in effect from 7/1/2005 through 6/30/2006
|
Federal Stafford Loans
|
Calculation
|
Interest Rate
|
|
First disbursed on or after 7/1/98 through 6/30/06 (cap 8.25%)
|
|
In-school, grace, deferment period
|
3.00 + 1.70 = 4.70
|
4.70%
|
|
Repayment, forbearance period
|
3.00 + 2.30 = 5.30
|
5.30%
|
|
First disbursed on or after 7/1/95 through 6/30/98 (cap 8.25%)
|
|
In-school, grace, deferment period
|
3.00 + 2.50 = 5.50
|
5.50%
|
|
Repayment, forbearance period
|
3.00 + 3.10 = 6.10
|
6.10%
|
|
1st disbursed 7/1/94 to 6/30/95 (cap 8.25%)
|
3.00 + 3.10 = 6.10
|
6.10%
|
|
1st disbursed 10/1/92 to 6/30/94 (cap 9%)
|
3.00 + 3.10 = 6.10
|
6.10%
|
|
Loans subject to 1992 Windfall provisions*:
|
|
7% loans
|
3.00 + 3.10 = 6.10
|
6.10%
|
|
8% loans
|
3.00 + 3.10 = 6.10
|
6.10%
|
|
9% loans
|
3.00 + 3.10 = 6.10
|
6.10%
|
|
8/10% loans (first 4 years of repayment)
|
3.00 + 3.10 = 6.10
|
6.10%
|
|
(Remainder of repayment)
|
3.00 + 3.10 = 6.10
|
6.10%
|
|
Loans subject to 1986 Windfall provisions**:
|
3.00 + 3.25 = 6.25
|
6.25%
|
|
|
Federal
PLUS/SLS Loans
|
Calculation
|
Interest
Rate
|
|
1st
disbursed on or after 7/1/98 to 6/30/06 (cap 9%)
|
3.00
+ 3.10 = 6.10
|
6.10%
|
|
1st
disbursed on or after 7/1/94 to 6/30/98 (cap 9%)
|
3.40
+ 3.10 = 6.50
|
6.50%
|
|
1st
disbursed on or after 10/1/92 to 6/30/94 (cap
10%, SLS cap 11%)
|
3.40
+ 3.10 = 6.50
|
6.50%
|
|
1st
disbursed prior to 10/1/92 (cap 12%)
|
3.40
+ 3.25 = 6.65
|
6.65%
|
|
|
Federal
Consolidation Loans
|
Calculation
|
Interest
Rate
|
|
Consolidation
applications received by the lender on or after
11/13/97 and through 9/30/98 (cap 8.25%)
|
3.00
+ 3.10 = 6.10
|
6.10%
|
|
Consolidation
applications received by the lender on or after
10/1/98 and through 6/30/06 (cap 8.25%)
|
The
interest rate is the weighted average of the interest
rates on the loans being consolidated, rounded
to the nearest higher 1/8th of one percent. The
interest rate may not exceed the maximum rate
or cap.
|
8.25%
(cap) or lower as applicable.
|
|
©
College Access Network
*Loans subject to 1992 Windfall Provisions include fixed rate 7%, 8%, and 9% Federal Stafford Loans whose first disbursement was made on or after 7/23/92 and 8/10% adjustable rate Federal Stafford Loans whose first disbursement was made on or after 7/23/92 to a prior borrower. These loans were to be converted to a variable interest rate by 1/1/95. The fixed rate 7%, 8%, and 9% Federal Stafford Loans maintain their original fixed rate as their variable rate cap. The 8/10% adjustable rate Federal Stafford Loans have a variable rate cap of 8% during the first 4 years of repayment and a variable rate cap of 10% during the remainder of their repayment period.
**Loans subject to 1986 Windfall Provisions include 8/10% adjustable rate Federal Stafford Loans whose first disbursement was made prior to 7/23/92 and 8/10% adjustable rate Federal Stafford Loans whose first disbursement was made between 7/23/92 and 9/30/92 to a new borrower. These loans are to be converted to a variable rate of interest when the interest rate increases from 8% to 10% with a variable interest rate cap of 10%.
|
|
