Quarter: June 30, 2002
July 2, 2002
SUBJECT: Federal Family Education Loan Program Special Allowance Rates for the Quarter Ending June 30, 2002
The Treasury Department has informed me that the average of the bond equivalent rates of the ninety-one day Treasury bills auctioned during the quarter ending June 30, 2002, is 1.75 percent. Further, 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, 2002, is 1.84 percent.
Attachment A contains the bond equivalent rates of the 91-day Treasury Bills auctioned during the quarter. Attachments B, C & D contain the quarterly special allowance rates computed pursuant to section 438 of the Higher Education Act of 1965, as amended (the Act).