Maintained for Historical Purposes

This resource is being maintained for historical purposes only and is not currently applicable.

For the Period: July 1, 2001 to June 30, 2002

Period Begin: 07/01/2001

Period End: 06/30/2002


June 26, 2001


Subject: Federal Stafford, Federal PLUS, Federal SLS, and Federal Consolidation Interest Rate Calculations for the Period July 1, 2001 - June 30, 2002

(This is a revision of the June 1, 2001 memo)


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, 2001 - June 30, 2002. Interest rates for variable-rate loans under these programs are determined annually, and are based on the following:

  • 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, 2001 is 3.688 percent, which rounds to 3.69 percent.
  • 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, 2001, is 3.688 percent, which rounds to 3.69 percent. The weekly average of the one-year constant maturity Treasury yield for the last calendar week ending on or before June 26th is 3.46 percent.
  • 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 3.69 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 3.769 percent which rounds to 3.77 percent.


{signed}


Angela Baker
Financial Management
Financial Partners

Attachment

Last Modified: 05/31/2001