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<p><span style='font-family:"Arial","sans-serif"'>The Department of Education
(ED) has released the special allowance rates for the quarter ending December 31,
2010. <o:p></o:p></span></p>
<p><span style='font-family:"Arial","sans-serif"'>In calculating quarterly
Special Allowance rates, ED is required to determine “the average of the
bond equivalent rates of the quotes of the 3-month commercial paper (financial)
rates in effect for each of the days in such quarter as reported by the Federal
Reserve in Publication H-15 (or its successor) for such 3-month period.”
For days when a rate is unavailable, ED has used the previous available rate. </span><o:p></o:p></p>
<p><span style='font-family:"Arial","sans-serif"'>Therefore, for the quarter
ending<b> December 31, 2010</b>, the average rate used to compute special
allowance will be<b> 0.26 </b>percent. </span><o:p></o:p></p>
<p><span style='font-family:"Arial","sans-serif"'>Pursuant to the Master
Participation Agreement(s) under ED's loan participation purchase program, the</span><b>
</b><b><span style='font-family:"Arial","sans-serif"'>0.26</span></b> <span
style='font-family:"Arial","sans-serif"'>percent rate is also used to determine
the Participant Yield (i.e., yield owed to ED). The calculated Participation
Yield rate is available in an Ensuring Continued Access to Student Loans
(ECASLA) <span class=MsoHyperlink><a
href="http://federalstudentaid.ed.gov/ffelp/library/EA90.doc"
title="blocked::http://federalstudentaid.ed.gov/ffelp/library/EA83.doc blocked::http://www.federalstudentaid.ed.gov/ffelp/library/EA57.doc">announcement</a></span>.</span><o:p></o:p></p>
<p><span style='font-family:"Arial","sans-serif"'>For some loans, the special
allowance rate is calculated by using the average of the bond equivalent rates
of the 91-day Treasury bills as published by the Department of the Treasury.
For the quarter ending</span><b> </b><b><span style='font-family:"Arial","sans-serif"'>December
31, 2010</span></b><span style='font-family:"Arial","sans-serif"'>, the average
of the rates is<b> 0.14</b></span> <span style='font-family:"Arial","sans-serif"'>percent.
</span><o:p></o:p></p>
<p class=MsoNormal><a href="http://ifap.ed.gov/ffelspecrates/SAPmemo010611.html"
title="blocked::http://ifap.ed.gov/ffelspecrates/SAPmemo040810.html blocked::http://www.ifap.ed.gov/ffelspecrates/071609SAPMemo.html"><b><span
style='font-family:"Arial","sans-serif"'>Click here</span></b></a> <span
style='font-family:"Arial","sans-serif"'>to view ED’s announcement
regarding the new rates. If you have questions, please contact OGSLP's Policy,
Compliance and Training department at 405.234.4432, 800.247.0420 (toll free) or
</span><a href="mailto:pct@ogslp.org" title="blocked::mailto:pct@ogslp.org"><span
style='font-family:"Arial","sans-serif"'>pct@ogslp.org</span></a><span
style='font-family:"Arial","sans-serif"'>. We're here to help!</span><span
style='font-family:"Sylfaen","serif";color:navy'><o:p></o:p></span></p>
<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p><span style='font-family:"Eras Demi ITC","sans-serif";color:navy'>Matt
McCreary</span> <br>
<span style='font-family:"Eras Demi ITC","sans-serif";color:navy'>Policy
Analyst</span> <o:p></o:p></p>
<p><span style='font-family:"Eras Bold ITC","sans-serif";color:teal'>Oklahoma
Guaranteed Student Loan Program</span> <br>
<span style='font-size:10.0pt;font-family:"Eras Bold ITC","sans-serif";
color:teal'>A Division of the Oklahoma State Regents for Higher Education</span>
<o:p></o:p></p>
<p><span style='font-family:"Eras Bold ITC","sans-serif";color:green'>405-234-4296
- phone</span> <br>
<span style='font-family:"Eras Bold ITC","sans-serif";color:green'>405-234-4549
- fax</span> <o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
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