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44004

Federal Register / Vol. 86, No. 152 / Wednesday, August 11, 2021 / Notices
rates for loans first disbursed during
each previous 12-month period from July 1, 2013, through June 30, 2021.

CHART 2DIRECT SUBSIDIZED LOANS, DIRECT UNSUBSIDIZED LOANS, AND DIRECT PLUS LOANS FIRST DISBURSED ON OR
AFTER 07/01/2013 AND BEFORE 07/01/2022
First disbursed
07/01/2021
07/01/2020
07/01/2019
07/01/2018
07/01/2017
07/01/2016
07/01/2015
07/01/2014
07/01/2013

Fixed interest rates %

On/after
Before

07/01/2022
07/01/2021
07/01/2020
07/01/2019
07/01/2018
07/01/2017
07/01/2016
07/01/2015
07/01/2014

Fixed-tate Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First Disbursed on or After July 1, 2006, and Before July 2, 2013
Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS

Direct subsidized loans Direct Unsubsidized loans undergraduate students
Direct unsubsidized loans graduate or professional students
3.73
2.75
4.53
5.05
4.45
3.76
4.29
4.66
3.86

Federal Register Notice Direct PLUS
loans
5.28
4.30
6.08
6.60
6.00
5.31
5.84
6.21
5.41

6.28
5.30
7.08
7.60
7.00
6.31
6.84
7.21
6.41

N/A
85 FR
85 FR
83 FR
82 FR
81 FR
80 FR
79 FR
78 FR

48229 August 10, 2020.
2417 January 15, 2020.
53864 October 25, 2018.
29062 June 27, 2017.
38159 June 13, 2016.
42488 July 17, 2015.
37301 July 1, 2014.
59011 September 25, 2013.

Loans first disbursed on or after July 1, 2006, and before July 1, 2013, have fixed interest rates that are specified in section 455b of the HEA 20 U.S.C.
1087eb. Chart 3 shows the interest rates for these loans.

CHART 3DIRECT SUBSIDIZED LOANS, DIRECT UNSUBSIDIZED LOANS, AND DIRECT PLUS LOANS FIRST DISBURSED ON
OR AFTER 07/01/2006 AND BEFORE 07/01/2013
Loan type
Borrower type
Subsidized
Subsidized
Subsidized
Subsidized
Subsidized
Subsidized
Unsubsidized
PLUS

Undergraduate students
Undergraduate students
Undergraduate students
Undergraduate students
Undergraduate students
Graduate or professional students
Undergraduate and graduate or professional students
Graduate or professional students and parents of dependent undergraduate students.

First disbursed on/after
First disbursed before
07/01/2011
07/01/2010
07/01/2009
07/01/2008
07/01/2006
07/01/2006
07/01/2006
07/01/2006

07/01/2013
07/01/2011
07/01/2010
07/01/2009
07/01/2008
07/01/2012 2
07/01/2013
07/01/2013

Interest rate %
3.40
4.50
5.60
6.00
6.80
6.80
6.80
7.90

2 Effective for loan periods beginning on or after July 1, 2012, graduate and professional students are no longer eligible to receive Direct Subsidized Loans.

Fixed-Rate Direct Consolidation Loans Section 455b of the HEA specifies that all Direct Consolidation Loans for which the application was received on or after February 1, 1999, have a fixed interest rate that is equal to the weighted average of the interest rates on
the loans consolidated, rounded to the nearest higher one-eighth of one percent. For Direct Consolidation Loans for which the application was received on or after February 1, 1999, and before July 1, 2013, the interest rate may not exceed 8.25 percent. However, under
455b of the HEA the 8.25 percent interest rate cap does not apply to Direct Consolidation Loans made based on applications received on or after July 1, 2013. Chart 4 shows the interest rates for fixed-rate Direct Consolidation Loans.

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CHART 4DIRECT CONSOLIDATION LOANS MADE BASED ON APPLICATIONS RECEIVED ON OR AFTER 02/01/1999
Maximum interest rate %

Application received
Interest rate %

On/after 07/01/2013

Weighted average of the interest rates on the loans consolidated, rounded to the nearest higher one-eighth of one percent..
same as above

On/after 02/01/1999 and before 07/01/2013

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