Special Allowance Rates
Special Allowance Rates for Stafford and PLUS loans for the Quarter ending December 31, 2007
The applicable Special Allowance Rates for Consolidation loans and for loans made or purchased with tax-exempt funds are available at www.ifap.ed.gov.
The Treasury Bill (T-bill) rate for the quarter ending December 31, 2007 averaged 3.59%. The categories for which Special Allowance was paid on loans made or purchased with taxable funds are:
| Loan Interest Rate | Special Allowance Annual Rate | Special Allowance Quarterly Rate | LaRS (Lender Reporting System) Part III: Special Allowance Category Column E* |
7.00% |
.125% |
.0313% |
SA |
7.00% 8.00% |
.09% .00% |
.0225% .00% |
SB |
7.00% |
.00% .00% .00% .00% |
.00% |
SD |
7.00% |
.00% .00% |
.00% .00% |
SE |
8.02% 8.05% |
.00% .00% |
.00% .00% |
SG |
7.42% |
.00% |
.00% |
SH |
6.62% |
.00% |
.00% |
SJ |
7.22% |
.00% |
.00% |
SK |
The Commercial Paper Rate for the same quarter averaged 4.92%.
| Loan Interest Rate | Special Allowance Annual Rate | Special Allowance Quarterly Rate | LaRS (Lender Reporting System) Part III: Special Allowance Category Column E* |
6.62% |
.04% |
.0100% |
CA |
7.22% |
.04% |
.0100% |
CB |
8.02%(PLUS) |
.00% |
.00% |
CD |
6.62% |
.04% (.14%)** |
.0100% (.0350%)** |
CE |
6.80% 7.22% |
.46% .04% |
.1150% .0100% |
CF |
8.02%(PLUS) |
(.46%)** (.94%)** |
(.1150%)** (.2350%)** |
CH |
6.80% |
(.69%)** |
(.1725%)** |
CI |
6.80% |
(.09%)** |
(.0225%)** |
CJ |
8.50%(PLUS) |
(1.79%)** |
(.4475%)** |
CM |
* For a detailed explanation of the Special Allowance codes, please visit the Integrated Common Manual (ICM) at www.aessuccess.org. To access the ICM, click on ‘Solutions for Lenders’ on the left-hand side of the screen. Then click on ‘Access financial aid publications’ under the heading ‘More Lender Solutions,’ which is located in the middle column on the screen. Then select the most current update of the ICM. The Special Allowance codes are located in Appendix A, figure A-5.
**Because this formula resulted in an amount less than zero, these loans will not receive special allowance. The rate shown is for the recapture of excess interest.