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Interest Rates

Variable Interest Rates in effect from 7/1/2005 through 6/30/2006

Federal Stafford Loans Calculation Interest Rate
First disbursed on or after 7/1/98 through 6/30/06 (cap 8.25%)
In-school, grace, deferment period 3.00 + 1.70 = 4.70 4.70%
Repayment, forbearance period 3.00 + 2.30 = 5.30 5.30%
First disbursed on or after 7/1/95 through 6/30/98 (cap 8.25%)
In-school, grace, deferment period 3.00 + 2.50 = 5.50 5.50%
Repayment, forbearance period 3.00 + 3.10 = 6.10 6.10%
1st disbursed 7/1/94 to 6/30/95 (cap 8.25%) 3.00 + 3.10 = 6.10 6.10%
1st disbursed 10/1/92 to 6/30/94 (cap 9%) 3.00 + 3.10 = 6.10 6.10%
Loans subject to 1992 Windfall provisions*:
7% loans 3.00 + 3.10 = 6.10 6.10%
8% loans 3.00 + 3.10 = 6.10 6.10%
9% loans 3.00 + 3.10 = 6.10 6.10%
8/10% loans (first 4 years of repayment) 3.00 + 3.10 = 6.10 6.10%
(Remainder of repayment) 3.00 + 3.10 = 6.10 6.10%
Loans subject to 1986 Windfall provisions**: 3.00 + 3.25 = 6.25 6.25%


Federal PLUS/SLS Loans Calculation Interest Rate
1st disbursed on or after 7/1/98 to 6/30/06 (cap 9%) 3.00 + 3.10 = 6.10 6.10%
1st disbursed on or after 7/1/94 to 6/30/98 (cap 9%) 3.40 + 3.10 = 6.50 6.50%
1st disbursed on or after 10/1/92 to 6/30/94 (cap 10%, SLS cap 11%) 3.40 + 3.10 = 6.50 6.50%
1st disbursed prior to 10/1/92 (cap 12%) 3.40 + 3.25 = 6.65 6.65%


Federal Consolidation Loans Calculation Interest Rate
Consolidation applications received by the lender on or after 11/13/97 and through 9/30/98 (cap 8.25%) 3.00 + 3.10 = 6.10 6.10%
Consolidation applications received by the lender on or after 10/1/98 and through 6/30/06 (cap 8.25%) The interest rate is the weighted average of the interest rates on the loans being consolidated, rounded to the nearest higher 1/8th of one percent. The interest rate may not exceed the maximum rate or cap. 8.25% (cap) or lower as applicable.

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