Federal Stafford, Federal PLUS, Federal SLS, and Federal Consolidation Interest Rate Calculations for the Period July 1, 2021 – June 30, 2022 (Updated June 29, 2021)

Period Begin
July 01, 2021 Period End: June 30, 2022
Subject
Federal Stafford, Federal PLUS, Federal SLS, and Federal Consolidation Interest Rate Calculations for the Period July 1, 2021 – June 30, 2022 (Updated June 29, 2021)

Note

On June 29, 2021, we updated this document by adding information about the rates that are calculated after June 26. We also replaced the PDF attachment with an updated memo to include the interest rates calculated after June 26.

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, 2021 – June 30, 2022. 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 1 of each year. The bond equivalent rate for 91-day Treasury Bills auctioned on May 24, 2021 is 0.02%.

  • PLUS/SLS Loans – based on either the bond equivalent rate of 91-day Treasury Bills auctioned at the final auction held before June 1 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 26 of each year. The bond equivalent rate for 91-day Treasury Bills auctioned on May 24, 2021 is 0.02%. The weekly average of the one-year constant maturity Treasury yield for the last calendar week ending on or before June 26 is 0.09%.

  • 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 1 of each year, or 0.02%. 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 30 of each year, or 0.02%.

For guidance on the treatment of FFEL loans impacted by the expansion of collections pause, refer to the May 12, 2021 Dear Colleague Letter, DCL ID: GEN-21-03, Subject: Expansion of Collections Pause to Defaulted FFEL Program Loans Managed by Guaranty Agencies, available on the Federal Student Aid Knowledge Center at https://fsapartners.ed.gov/knowledge-center/library/dear-colleague-letters/2021-05-12/expansion-collections-pause-defaulted-ffel-program-loans-managed-guaranty-agencies.

Accounting Operations Division
Finance Office

Attachments:

Last Modified: 06/29/2021