[Lender] Special Allowance Rates

[GSL Communications]

The Department of Education (ED) has released the special allowance
rates for the quarter ending December 31, 2008. The average of the bond
equivalent rates of the 91-day Treasury bills auctioned during the
quarter ending December 31, 2008 is 0.35 percent.  
 
ED's announcement describes a revised method for calculating the rate of
3-month commercial paper. The revised method addresses the collapse of
the commercial paper market and the Federal Reserve's launch of the
Commercial Paper Funding Facility. Under this revised approach, 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 the
quarter ending December 31, 2008 is 2.58 percent. 

Click here <http://www.ifap.ed.gov/ffelspecrates/011609SAPMemo.html>  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 pct at ogslp.org
<mailto:pct at ogslp.org> . We're here to help!    

 

________________________________

Angela O. Caddell 
Director for Communications, Financial Education, and Outreach  

OGSLP Communications
405.234.4452 
800.522.8506 (TDD/TRS) 
800.247.0420 (toll-free)
gslcommunications at ogslp.org    
www.ogslp.org <http://www.ogslp.org>    

 
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