The U.S. Department of Education (ED) issued an updated announcement regarding the new interest rates, effective July 1, 2009, on FFELP loans subject to the variable rate provision.

A prior announcement addressing FFEL and Direct Loan interest rates effective July 1, 2009 was published by ED on May 27, 2009 and posted to our Web site on May 28, 2009. However, it did not include rates for certain PLUS and SLS loans with first disbursement made before October 1, 1992 and on or after July 1, 1994 and before July 1, 1998. These rates have now been determined and appear in the attached charts.

Interest rates for all other variable rate loans remain the same as those published by ED on May 27, 2009.

Please direct questions about this announcement to the Office of Regulatory Compliance at 1-518-473-3986; toll free at 1-866-431-HESC (1-866-431-4372), press 6; or by e-mail at: askpolicy@hesc.org

Attachment: New FFELP Interest Rate Charts Effective July 1, 2009

Date posted: July 2, 2009