| Period Begin: January 1, 2007 Period End: December 1, 2007 Posted on 12-05-2006 Dear Partner: Due to the wording of the promissory notes, some loans are subject to a calendar-year adjustment of the variable interest rate, based on the "91-day Treasury Bill" method that existed in statute [section 427A(c)(4)] prior to enactment of the Higher Education Technical Amendments Act of 1987 (Pub. L. 100-50). The rate is equal to the "average of the 91-day Treasury Bills auctioned during the 12-month period ending November 30" plus 3.75 percent, not to exceed 12 percent. Accordingly, we have determined that the variable interest rate for calendar year 2007 is 8.52 percent [4.77% (the 91-day T-bill average) + 3.75%]. Please note that this rate applies only to PLUS/SLS promissory notes that provide for a calendar year adjustment based on the "91-day Treasury Bill" method. Accounting Division Attachment |