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Federal Register / Vol. 86, No. 152 / Wednesday, August 11, 2021 / Notices www.govinfo.gov. At this site you can view this document, as well as all other documents of this Department published in the Federal Register, in text or Portable Document Format PDF. To use PDF you must have Adobe Acrobat Reader, which is available free at the site.
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Program Authority: 20 U.S.C. 1071 et seq.
Richard Cordray, Chief Operating Officer, Federal Student Aid.
FR Doc. 202117054 Filed 81021; 8:45 am BILLING CODE 400001P

DEPARTMENT OF EDUCATION
Annual Notice of Interest Rates for Fixed-Rate Federal Student Loans Made Under the William D. Ford Federal Direct Loan Program Federal Student Aid, Department of Education.
ACTION: Notice.
AGENCY:

The Chief Operating Officer for Federal Student Aid announces the interest rates for Federal Direct Stafford/
Ford Loans Direct Subsidized Loans, Federal Direct Unsubsidized Stafford/
Ford Loans Direct Unsubsidized Loans, and Federal Direct PLUS Loans Direct PLUS Loans made under the William D. Ford Federal Direct Loan Direct Loan Program, Assistance Listing Number 84.268, with first disbursement dates on or after July 1, 2021, and before July 1, 2022.

SUMMARY:

FOR FURTHER INFORMATION CONTACT:

Travis Sturlaugson, U.S. Department of Education, 830 First Street NE, 11th Floor, Washington, DC 20202.
Telephone: 202 3774174 or by email:
travis.sturlaugson@ed.gov.
If you use a telecommunications device for the deaf TDD or a text telephone TTY, call the Federal Relay Service FRS, toll free, at 1800877
8339.
Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, and Direct Consolidation Loans collectively referred to as Direct Loans may have either fixed or variable interest rates, depending on when the loan was first disbursed or, in the case of a Direct Consolidation Loan, when the application for the loan was received.
Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS
Loans first disbursed on or after July 1, 2006, and Direct Consolidation Loans for which the application was received on or after February 1, 1999, have fixed interest rates that apply for the life of the loan. Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed before July 1, 2006, and Direct Consolidation Loans for which the application was received before February 1, 1999, have variable interest rates that are determined annually and are in effect during the period from July 1 of one year through June 30 of the following year.
This notice announces the fixed interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans with first disbursement dates on or after July 1, 2021, and before July 1, 2022, and provides interest rate information for other fixed-rate Direct Loans. Interest rate information for variable-rate Direct
SUPPLEMENTARY INFORMATION:

Loans is announced in a separate Federal Register notice.
Fixed-Rate Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First Disbursed on or After July 1, 2013
Section 455b of the Higher Education Act of 1965, as amended HEA 20 U.S.C. 1087eb includes formulas for determining the interest rates for all Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed on or after July 1, 2013. The interest rate for these loans is a fixed rate that is determined annually for all loans first disbursed during any 12-month period beginning on July 1 and ending on June 30. The rate is equal to the high yield of the 10year Treasury notes auctioned at the final auction held before June 1 of that 12-month period, plus a statutory addon percentage that varies depending on the loan type and, for Direct Unsubsidized Loans, whether the loan was made to an undergraduate or graduate student. The calculated interest rate may not exceed a maximum rate specified in the HEA. If the interest rate formula results in a rate that exceeds the statutory maximum rate, the rate is the statutory maximum rate.
Loans first disbursed during different 12-month periods that begin on July 1
and end on June 30 may have different interest rates, but the rate determined for any loan is a fixed interest rate for the life of the loan.
On May 12, 2021, the United States Treasury Department held a 10-year Treasury note auction that resulted in a high yield of 1.684 percent.
Chart 1 shows the fixed interest rates for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS
Loans first disbursed on or after July 1, 2021, and before July 1, 2022.

CHART 1DIRECT SUBSIDIZED LOANS, DIRECT UNSUBSIDIZED LOANS, AND DIRECT PLUS LOANS FIRST DISBURSED ON OR
AFTER 07/01/2021 AND BEFORE 07/01/2022

Loan type
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Direct Direct Direct Direct
Subsidized Loans
Unsubsidized Loans Unsubsidized Loans1
PLUS Loans

1 Graduate
Borrower type
Undergraduate students
Graduate and professional students
Parents of dependent undergraduate students.
Graduate and professional students.

Add-on %

Maximum rate %

Fixed interest rate %

1.684
1.684
1.684

2.05
3.60
4.60

8.25
9.50
10.50

3.73
5.28
6.28

and professional students are not eligible to receive Direct Subsidized Loans.

For reference, Chart 2 compares the fixed interest rates for Direct Subsidized
VerDate Sep<11>2014

10-year treasury note high yield 05/12/
2021
%

23:05 Aug 10, 2021

Jkt 253001

Loans, Direct Unsubsidized Loans, and Direct PLUS Loans first disbursed
PO 00000

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during the period July 1, 2021, through June 30, 2022, with the fixed interest
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