During the Quarter Ending: September-30-2005

Quarter: September 2005

Posted on 10-04-2005

SUBJECT: Federal Family Education Loan Program Special Allowance Rates for the Quarter Ending September 30, 2005

The Treasury Department has published the average of the bond equivalent rates of the ninety-one day Treasury bills auctioned during the quarter ending September 30, 2005, as 3.46 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 September 30, 2005, is 3.74 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).