U.S. DEPARTMENT OF EDUCATION

Federal Family Education Loan Program

OMB NO: 1845-0013

Expiration Date: 1-31-xxxx

Previous Versions Obsolete

LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT – (LaRS/799) Read instructions for each part

before completing this form.

IDENTIFICATION AND CERTIFICATION

CERTIFICATION

1. Lender Identification Number (LID), Lender Name: As an eligible Lender, Servicer, or Eligible Lender Trustee in the Federal Family

Education Loan Program (FFELP) that submits the Lender Reporting System report 

(LaRS), I certify, by my signature below that:

The data that my organization submits to the U.S. Department of Education is 

correct to the best of my knowledge and belief. I certify that this submission seeks 

payment of only those amounts that are proper and authorized under the laws, 

regulations, and policies applicable to the Federal Family Education Loan Program. 

I understand that all documents, files, accounts and records supporting this data 

are subject to audit or review by the Secretary of Education or other authorized 

representatives of the United States Government, and I agree to make all such 

documents, files, accounts and records available to the Secretary or such 

authorized representatives without restriction.

2. Servicer Identification Number, Servicer Name (if applicable):

3. Year and Quarter Ending (Complete both fields):

YEAR

1 [ ] March 31

2 [ ] June 30

3 [ ] September 30

4 [ ] December 31

4. Signature

5. Date

Mail completed form to:

U.S. Department of Education

830 First., NE, 5th Floor – Lender Reporting

Washington, D.C. 20202-5230

6. Typed Name and Title

Fax 202-275-3472

WARNING: Any person who knowingly and willfully submits a false statement to obtain payment may be prosecuted under Federal law, and if convicted, is subject to 

imprisonment for up to five years or a fine of up to $20,000, or both. 18 U.S.C. 1001, 20 U.S.C 1097. In addition, any person who knowingly makes a false claim or causes a 

false claim to be presented, or knowingly makes a false statement to obtain payment of a claim, may be subject to civil penalty and damages under the False Claims Act.

REPORTING BURDEN: According to the Paperwork Reduction Act of 1995, no persons are required to respond to a collection of information unless such collection displays a valid OMB control 

number. Public reporting burden for this collection of information is estimated to average 2.4375 hours per response, including time for reviewing instructions, searching existing data sources, 

gathering and maintaining the data needed, and completing and reviewing the collection of information. The obligation to respond to this collection is required to obtain or retain benefit (Title IV, Part 

B of the Higher Education Act, as amended). Send comments regarding the burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to 

the U.S. Department of Education, 400 Maryland Ave., SW, Washington, DC 20210-4537 or email ICDocketMgr@ed.gov and reference the OMB Control Number 1845-0013.
LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT (LaRS/799)

OMB NO: 1845-0013

Expiration Date: 01-31-xxxx

Previous Versions Obsolete

LID: PAGE

PART I – Loan Origination and Lender Loan Fees

Loan

Type

(A)

Fee

Code

(B)

Fee

Percent

(C)

Loan

Interest Rate

(D)

Principal

Amount of Loans

(E)

Check here if submitting additional pages for Part I
LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT (LaRS/799)

OMB NO: 1845-0013

Expiration Date: 01-31-xxxx

Previous Versions Obsolete

LID: PAGE

PART II – Interest Benefits

Loan

Type

(A)

Interest

Rate

(B)

Billing

Code

(C)

Ending

Principal Balance

(D)

Average Daily

Principal Balance

(E)

Interest

Amount 

(Use only for Adjustments)

(F)

Check here if submitting additional pages for Part II
LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT (LaRS/799)

OMB NO: 1845-0013

Expiration Date: 01-31-xxxx

Previous Versions Obsolete

LID: PAGE

PART III – Special Allowance

Billing 

Code 

(A)

Calendar

Year

(B)

Quarter

Code

(C)

Loan

Type

(D)

Special 

Allowance 

Category 

(E) 

Interest

Rate

(F)

Ending

Principal Balance

(G)

Average Daily

Principal Balance

(H)

Adjustments for

Difference in Average

Daily Principal Balance

(I)

Check here if submitting additional pages for Part III
LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT (LaRS/799)

OMB NO: 1845-0013

Expiration Date: 01-31-xxxx

Previous Versions Obsolete

LID: PAGE

PART IV: Loan Activity

FEDERAL STAFFORD & FISL

(Except Unsubsidized)

(A)

FEDERAL

PLUS

(B)

FEDERAL

SLS

(C)

FEDERAL

CONSOLIDATION

(D)

FEDERAL UNSUBSIDIZED

STAFFORD

(E)

1. Beginning Principal Balance

2. Loan Principal Disbursed

3. Interest Capitalized or

Other Principal Increases

4. Principal of Loans Purchased

5. Principal of Loans Cured

6. Principal of Loans Sold

7. Principal Paid by Insurance Claims

8. Principal of Loans on Which

the Guarantee Was Voided

9. Principal Paid by Borrowers

and Other Principal Reductions
LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT (LaRS/799)

OMB NO: 1845-0013

Expiration Date: 01-31-xxxx

Previous Versions Obsolete

LID: PAGE

PART V – Loan Portfolio Status

FEDERAL STAFFORD & FISL

(Except Unsubsidized)

(A)

FEDERAL

PLUS

(B)

FEDERAL

SLS

(C)

FEDERAL

CONSOLIDATION

(D)

FEDERAL UNSUBSIDIZED

STAFFORD

(E)

1. Loans in School and in Grace 

2. Loans in Authorized Deferment

3. Loans in Repayment or Forbearance:

a. Current or less than

31 days past due

b. 31-60 days past due

c. 61-90 days past due

d. 91-120 days past due

e. 121-180 days past due

f. 181-270 days past due

g. 271 days or more past due

h. Claims filed, but not yet paid,

and not listed above

4. Ending Principal Balance
Instructions 

1

What is the Lender’s Interest & Special Allowance Request and Report (LaRS)?

The LaRS form is used by the U.S. Department of Education (ED) to calculate interest subsidies 

and special allowance payments due to the lending institution, to calculate origination fees and 

lender loan fees owed to ED, and to obtain information on your portfolio under the Federal 

Family Education Loan Program.

Who should complete this form?

Any lender holding a FFEL loans must submit an invoice within 90 days of the end of the quarter.

What help is available?

Help can be obtained by contacting Federal Student Aid (FSA) at FSA_LR@ed.gov.

The Entire form must be completed.

Failure to complete all sections of the LaRS form will result in the rejection of the entire form.

Are there any other helpful hints?

1. It is important to put your LID on the top of each page. 

2. Number the pages sequentially using the space provided.

3. If additional space is needed for Parts I, II, or III, make additional copies, and check the 

block at the bottom of each page to indicate that additional pages are being submitted.

4. Unless otherwise stated, calculate each monetary amount to the nearest cent, round to the 

nearest dollar, and enter the amount on the form.

5. Sign and date the form, and send it to the address shown on the first page.
Instructions

2

General Instructions

1 Lender ID, Lender Name The Lender Identification Number (LID) is a 6-digit code assigned 

by ED to identify each participant in the FFEL program. Provide 

the full, legal name of your institution.

2 Servicer ID, Servicer Name The Servicer Identification Number is a 6-digit code assigned by ED 

to identify each participant in the FFEL program. Provide the full, 

legal name of the servicing institution (if applicable).

3 Year and Quarter Ending Provide the calendar year and associated quarter ending date 

covered by this form.

4 Signature Read the certification statement and sign the form in ink. Forms 

signed with signature stamps and unsigned forms will be rejected 

and returned to you.

5 Date Enter the date the LaRS form is signed.

6 Typed Name and Title Type or Print the name and title of the official signing the form.
Instructions

3

Part I – Loan Origination and Lender Loan Fees

This section is divided into 5 columns. Enter separate line entries for each unique combination of Loan 

Type, Fee Code, Fee Percent, and Loan Interest Rate. For each line, if any column is completed, all 

columns for that line must be completed. If you do not have anything to report, please indicate this by 

inserting zeros in the first line. If applicable, report adjustments to previous quarters. If additional 

space is needed, make a copy of the blank page and check the block at the bottom of each page.

Applicability: Most FFEL Program loans are subject to a loan origination fee, which is a percentage of the 

loan principal and is deducted proportionately from each loan disbursement. The fee depends on the 

period of enrollment covered by the loan. The Health Care and Education Reconciliation Act of 2010 

(HCERA), Public Law 111-152, made significant changes to the federal student loan programs, including 

ending new loans under the Federal Family Education Loan Program. Beginning July 1, 2010, all new 

subsidized and unsubsidized Stafford Loans, PLUS loans made to parents and graduate/professional 

students, and consolidation loans can only be made under the William D. Ford Federal Direct Loan (Direct 

Loan) Program.

A Loan Type Provide the 2-letter code of the loan type being reported:

Loan Type Description

SF Federal Subsidized (except Unsubsidized & FISL

SL Federal SLS

PL Federal PLUS

CL Federal Consolidation

SU Federal Unsubsidized

B Fee Code Provide the code for the period and type of loan activity being 

reported:

Origination fee adjustments to previously reported quarters:

FI - Net increase in loans you made or bought as reported for a 

previous quarter, if you owe the origination fees

FD - Net decrease in loans you made or bought as reported for a 

previous quarter, if the fees are to be credited to you

Lender fee adjustment to previously reported quarters:

LI - Net increase in loans you made or bought as reported for a 

previous quarter, if you owe the Lender fees

LD - Net decrease in loans you made or bought as reported for a 

previous quarter, if the fees are to be credited to you

Separate entries must be made for origination fees and for Lender 

fees. For lines containing the codes FI and LI, ED will charge you the 

fee. For lines containing the codes FD and LD, you will receive credit 

toward fees due. 

Include all loans, which can be classified under the same loan type, the 

same adjustment fee code, the same fee percent, and the same loan 

interest rate in one line item. When using an adjustment code, report 
Instructions

4

the sum of all activity for loans made in all prior quarters. Do not 

make separate entries for each separate prior quarter.

C Fee Percent Provide the percentage (as a decimal) of the loan used to determine 

the fee:

 Loans first disbursed on or after 7/1/2009 but prior to 7/1/2010

for periods of enrollment that either include that date or begin 

after that date:

- Federal Stafford and Unsubsidized Stafford fees are 0.005

 Loans first disbursed on or after 7/1/2008 but prior to 7/1/2009

for periods of enrollment that either include that date or begin 

after that date:

- Federal Stafford and Unsubsidized Stafford fees are 0.01

 Loans first disbursed on or after 7/1/2007 but prior to 7/1/2008

for periods of enrollment that either include that date or begin 

after that date:

- Federal Stafford and Unsubsidized Stafford fees are 0.015

 Loans first disbursed on or after 7/1/2006 but prior to 7/1/2007

for periods of enrollment that either include that date or begin 

after that date:

- Federal Stafford and Unsubsidized Stafford fees are 0.02

 Loans first disbursed on or after 7/1/2006 but prior to 7/1/2010 

for periods of enrollment that either include that date or begin 

after that date:

- Federal PLUS fees are 0.03

 Loans first disbursed on or after 7/1/1994 but prior to 7/1/2006

for periods of enrollment that either include that date or begin 

after that date:

- Federal Stafford, PLUS and Unsubsidized Stafford fees are 

0.03

 Loans first disbursed on or after 7/1/1994 for period of enrollment 

that begin before that date and include that date:

- Federal SLS loans certified before 7/1/1994 is 0.03

 Period of enrollment beginning before 7/1/1994 and disbursed 

prior to that date:

- Federal Stafford, Federal SLS and Federal PLUS fee is 0.05

- Unsubsidized Stafford combined origination fee/insurance 

premium is 0.065
Instructions

5

 FFEL loans first disbursed on or after 10/1/2007 but prior to 

7/01/2010 are subject to a Lender loan fee, which is 1% or 0.01 of 

the loan principal and is charged proportionately against each loan 

disbursement.

 FFEL Program loans first disbursed on or after 10/1/1993 but prior 

to 10/1/2007 are subject to a Lender loan fee, which is 1⁄2% or .005

of the loan principal and is charged proportionately against each 

loan disbursement.

D Loan Interest Rate Provide the applicable interest rate (as a decimal) of each group of 

loans.

 Use “.056” for Federal Stafford Subsidized loans first disbursed on 

or after 7/1/2009 but prior to 7/1/2010 to eligible undergraduate 

students;

 Use “.06” for Federal Stafford Subsidized loans first disbursed on 

or after 7/1/2008 but prior to 7/1/2009 to eligible undergraduate 

students;

 Use “.068” for Federal Stafford and Unsubsidized Stafford loans 

disbursed on or after 7/1/2006 but prior to 7/1/2010;

 Use “.085” for Federal PLUS loans disbursed on or after 7/1/2006

– but prior to 7/1/2010;

 Use "EVAR" for Federal Stafford, Federal PLUS and Unsubsidized 

Stafford variable rate loans made to new borrowers on/after 

10/1/92 but prior to 7/1/2006; 

 Use the actual rate of the loan for Consolidation loans made 

on/after 10/1/98; and

 Use FVAR7, FVAR8, FVAR9, FVAR10, and FVARX respectively for 

converted fixed rate loans of 0.07, 0.08, 0.09, or 0.08/0.1 percent.

E Principal Amount of Loans The principal amount of the loan is the amount disbursed plus the 

amount of the insurance premium and origination fee deducted prior 

to disbursement. (The Lender loan fee is based on the same amount 

and is a charge to you. It cannot be charged to the borrower; that is, 

it cannot be deducted from the loan principal disbursed.)

Enter the total principal amount of loans (whole dollars only) made or 

bought which are covered by the transaction indicated by the Loan 

Type and Fee Code. Do not include amounts representing 

cancellations or adjustments occurring in the same quarter that the 

loan was disbursed.

For a Fee Code of FI and LI, report the additional amount which was 

not previously reported to ED. For a Fee Code of FD and LD, report the 

amount, which was previously reported but has now been cancelled or 

overstated in previous quarters.
Instructions

6

Part II – Interest Benefits

This part is divided into 6 columns. When billing for interest for the quarter covered by the form, (Billing 

Code BC), make separate line entries for each different loan type and allowable interest rate. Columns 

A-E must be completed. Column F, Interest Amount, is for reporting adjustments only.

When billing for all other codes (BI and BD), make separate line entries for each type of adjustment. 

Complete columns A, C, and F. Leave the other columns blank. If additional space is needed, make a 

copy of the blank page and check the block at the bottom of each page.

Applicability: In general, ED will pay the interest due on:

 Subsidized Federal Stafford and FISL loans while the borrower is in school at least half time, in 

grace, and during a period of authorized deferment;

 Federal Consolidation loans for which the Lender received the application on/after 1/1/93 and 

prior to 8/10/93 during periods of authorized deferment;

 Federal Consolidation loans comprised solely of subsidized Federal Stafford Loans for which the 

Lender received the application on/after 8/10/93 and prior to 11/13/97, during periods of 

authorized deferment;

 Federal Consolidation loans whose application was received after 11/13/97, interest benefits 

are paid on the portion of the loan that repaid subsidized Federal Stafford, subsidized Federal 

Direct Stafford, FISL, subsidized Federal Consolidation, and subsidized Federal Direct 

Consolidation loans, during periods of authorized deferment; and

 Income Based Repayment - On both subsidized Stafford loans and the subsidized portion of 

Consolidation loans. On the subsidized loans, if the portion of the scheduled monthly PFH 

payment amount attributable to those loans is less than the monthly accrued interest on those 

loans, the Department will pay the difference, for up to three years.

A Loan Type Provide the 2-letter code for the loan type being reported.

SF - Federal Stafford (except Unsubsidized Stafford) and FISL

CL - Federal Consolidation

B Interest Rate Provide the interest rate (as a decimal) for loans or portions of loans 

on which you are billing interest for the quarter covered by this form, 

as explained above. For loans made at rates other than those shown, 

make separate line entries for each actual rate used (up to 5 decimal 

places, then round). For lines showing an adjustment (Billing Code BI 

or BD), leave this column blank.

- For 6.8% enter 0.068

- For 8.25% enter 0.0825

C Billing Code Provide the code for the period and type of loan activity being 

reported:

BC - Interest due to you for the current quarter

BI - Adjustment, resulting in a net increase in the interest due to you 

from previous quarters' billings

BD - Adjustment, resulting in net decrease in the interest due to you 

from previous quarters' billings
Instructions

7

For lines containing the codes BC or BI, you will receive an interest 

payment from ED. For lines containing the code BD, you will be 

charged for the amount owed to ED.

If an interest transaction occurred in the current quarter and an 

adjustment was made to it in the same quarter, report only the net 

result. Do not report the original action and the adjustment 

separately.

Use codes BI and BD to report adjustments to interest activity for all 

prior quarters combined, regardless of the loans' individual interest 

rates.

For loans eligible for interest under Income Based Repayment –

provide the code for the period and type of loan activity being 

reported:

IC - Interest due to you for the current quarter

II - Adjustment, resulting in a net increase in the interest due to you 

from previous quarters' billings

ID - Adjustment, resulting in net decrease in the interest due to you 

from previous quarters' billings

D Ending Principal Balance Enter the total unpaid principal balance outstanding on all loans or 

portions of loans eligible for interest benefits (whole dollars only) for 

the stated Loan Type, Interest Rate and Billing Code combination, as 

of the last day of the quarter covered by this form. Complete this 

column only for lines with Billing Code BC.

E Average Daily Principal 

Balance

For each combination of Loan Type, Interest Rate and Billing Code, 

enter the average (whole dollars only) of the daily principal balances 

of all eligible loans or portions of loans for the quarter covered by this 

form. This is accomplished by adding the outstanding principal 

balance of all eligible loans or portions of loans for each day in the 

quarter and dividing by the number of days in the quarter. This 

column must be completed for any line with Billing Code BC.

F Interest Amount 

(Use only for adjustments)

For each combination of Loan Type, Interest Rate and Billing Code 

enter to the nearest penny the amount of interest due you or owed to 

ED. For IBR activity, enter the amount of unpaid accrued interest.

Do not use Column F for interest due for the current quarter (Billing 

Code is BC). This column is required for adjustments (Billing Code is BI 

or BD). Enter a positive number only. We will use the Billing Code to 

determine whether you are due interest or owe money to ED.
Instructions

8

Part III – Special Allowance

This part is divided into 9 columns. Make separate line entries for each different combination of Billing 

Code, Calendar Year, Quarter Code, Loan Type, Special Allowance Category, and Interest Rate. These 

first 6 columns must always be completed. If additional space is needed, make a copy of the blank page 

and check the block at the bottom of each page.

Applicability: In general, special allowance may be paid on all loans, except certain Federal Stafford and 

FISL loans and any “HEAL” portion of a Consolidation loan. For loans disbursed on/after 4/1/06, if the 

applicable interest rate exceeds the market rate, the lender may owe funds back the government.

For IBR eligible loans – special allowance will be paid on the average daily balance of unpaid accrued 

interest. This is in addition to what is being paid on the average daily principal balance.

A Billing Code Provide the code for the period and type of loan activity being reported:

BC - Special allowance due/owed for the current quarter

BI - Adjustment resulting in a net increase in the special allowance previously 

paid/collected for a given quarter

BD - Adjustment resulting in a net decrease in the special allowance previously 

paid/collected for a given quarter

For lines containing the codes BC and BI, YOU may receive a payment from ED. For 

a line containing the code BD, YOU may be charged for the amount owed to ED. If a 

transaction occurred in the current quarter and an adjustment was made in the 

same quarter, only report the net result.

For loans eligible for interest under Income Based Repayment (IBR) – provide the 

code for the period and type of loan activity being reported:

IC - Interest due to you for the current quarter

II - Adjustment, resulting in a net increase in the interest due to you from previous 

quarters' billings

ID - Adjustment, resulting in net decrease in the interest due to you from previous 

quarters' billings

B Calendar Year Provide the year being reported (e.g. 2014)

C Quarter Code Provide the digit for the quarter being reported:

1- March 31 3 – September 30 

2 - June 30 4 – December 31

D Loan Type Provide the 2-letter code for the loans being reported:

Loan Type Description

SF Federal Subsidized (except Unsubsidized & FISL

SL Federal SLS

PL Federal PLUS

CL Federal Consolidation

SU Federal Unsubsidized
Instructions

9

E Special 

Allowance 

Category

Provide the code for the loans being reported (‘S’ is calculated using the 91-day 

Treasury Bills, ‘C’ uses Commercial Paper and ‘L’ uses LIBOR):

SA - For loans made prior to 10/1/81

(Tax-exempt loans during this period use XA);

SB - For Stafford (subsidized) and PLUS loans made on/after 10/1/81 but prior to 

 10/17/86, loans made on/after 10/17/86, but prior to 11/16/86 for periods of 

 enrollment beginning prior to 11/16/86 and Consolidation loans made 

 on/after 10/1/81, but prior to 11/16/86 (Tax-exempt loans – use XB); 

SD - For Stafford (subsidized) and PLUS/SLS loans made on/after 10/17/86 but 

prior to 11/16/86 for periods of enrollment beginning on/after 11/16/86, 

Stafford (subsidized), PLUS/SLS and Consolidation loans made on/after 

11/16/86 but prior to 10/1/92, and Stafford (unsubsidized) loans made prior 

to 10/1/92 for periods of enrollment beginning on/after 10/1/92 (Taxexempt loans during this period use XB);

SE - For Stafford loans made on/after 10/1/92 but prior to 7/1/94, regardless of 

the enrollment period, or loans made after 7/1/94 for an enrollment period 

ending prior to 7/1/94, PLUS loans made on/after 10/1/92 but prior to 

7/1/94, SLS loans made on/after 10/1/92 but prior to 7/1/94, or certified

before 7/1/94 and disbursed after 7/1/94, and Consolidation loans made 

on/after 10/1/92 and those for which the loan application was received by 

an eligible lender prior to 11/13/97 (Tax-exempt loans during this period 

use XE);

SG - For Stafford loans made on/after 7/1/94 but prior to 7/1/95, loans made 

on/after 7/1/95 but prior to 7/1/98 during periods of repayment or 

forbearance, PLUS loans made on/after 7/1/94 but prior to 7/1/98 and

Consolidation loans for which the loan application was received by an 

eligible lender on/after 11/13/97 but prior to 10/1/98 (Tax-exempt loans 

during this period use XG);

SH - For Stafford loans made on/after 7/1/95 but prior to 7/1/98 only during the 

in-school, grace and deferment periods and PLUS loans made on/after 

7/1/98 but prior to 1/1/2000 (Tax-exempt loans during this period use XH);

SJ - For Stafford loans made on/after 7/1/98 but prior to 1/1/2000 only during 

the in-school, grace and deferment periods (Tax-exempt loans during this 

period use XJ);

SK - For Stafford loans made on/after 7/1/98 but prior to 1/1/2000 only during 

the repayment and forbearance periods (Tax-exempt loans during this 

period use XK);

SL - Consolidation loans made on/after 10/1/98 but prior to 1/1/2000

(Tax-exempt loans during this period use XL);
Instructions

10

CA/LA Stafford loans made on/after 1/1/2000 but prior to 4/1/06, only during the 

in-school, grace and deferment periods (Tax-exempt loans during this 

period use XJ);

CB/LB Stafford loans made on/after 1/1/2000 but prior to 4/1/06, only during the 

repayment and forbearance periods (Tax-exempt loans during this period 

use XK);

CC/LC Consolidation loans made on/after 1/1/2000, but prior to 4/1/06

(Tax-exempt loans during this period use XL);

CD/LD PLUS loans made on/after 1/1/2000, but prior to 4/1/06

(Tax-exempt loans during this period use XH. Note: Effective for quarters on 

or after 4/1/06, these loans should be reported as XQ);

CE/LE Stafford loans made on/after 4/1/2006 but prior to 10/1/2007, only during 

the in-school, grace and deferment periods (Tax-exempt loans during this 

period use XM);

CF/LF Stafford loans made on/after 4/1/2006 but prior to 10/1/2007, only during 

the repayment and forbearance periods (Tax-exempt loans during this 

period use XN);

CG/LG Consolidation loans made on/after 4/1/2006 but prior to 10/1/2007

(Tax-exempt loans during this period use XO);

CH/LH PLUS loans made on/after 4/1/2006 but prior to 10/1/2007 (Tax-exempt

loans during this period use XP);

CI/LI Stafford loans made on/after 10/1/2007 but prior to 7/1/2010, only during 

the in-school, grace and deferment periods;

CJ/LJ Stafford loans made on/after 10/1/2007 but prior to 7/1/2010, only during 

the repayment and forbearance periods;

CK/LK Consolidation loans made on/after 10/1/2007 but prior to 7/1/2010; or

CM/LM PLUS loans made on/after 10/1/2007 but prior to 7/1/2010.
Instructions

11

F Interest Rate Provide the applicable interest rate (as a decimal) for each group of loans. 

Allowable rates are from 0% for IBR loans (enter as 0.00) - .25. For Consolidation 

loans made on or after October 1, 1998, the allowable rates are from 1.5% - 8.25%. 

Other allowable rates:

 EVAR - for variable Federal Stafford and Unsubsidized Stafford, PLUS, and 

SLS loans made on or after 10/1/92 – 6/30/06 and Consolidation loans 

made during the "Emergency Consolidation Loan Act";

 CVAR - for Federal PLUS and SLS loans made in 1986-7 where the interest 

rate changes each January 1;

 FVAR7, FVAR8, FVAR9, FVAR10, and FVARX - respectively for converted 

fixed rate loans of 7%, 8%, 9%, 10% and 8/10%; or

 VAR – for variable rate, PLUS and SLS loans made prior to 10/1/92

G Ending Principal 

Balance

Provide the total unpaid principal balance outstanding on all loans eligible for 

special allowance (whole dollars only) for the stated combination of entries in 

columns A-F, as of the last day of the quarter covered by this form. Complete this 

column for Billing Code BC only.

H Average Daily 

Principal 

Balance

For each combination of columns A through F, provide the average daily principal 

balance (whole dollars only) of all eligible loans for the quarter. Complete this 

column for Billing Code BC only.

I Adjustments for 

Difference in 

Average Daily 

Principal 

Balance

Provide the difference in the Average Daily Principal Balance (whole dollars only, 

positive number) between what should have been reported and what was originally 

reported. Complete this column for a Billing Code of BI or BD only.
Instructions

12

Part IV – Loan Activity

Applicability: Part IV shows the changes, which have occurred to the guaranteed loan principal in your 

portfolio for each type of loan for the quarter covered by this form. Loan principal includes capitalized 

interest as defined in line 3. This part must be completed and submitted each time you submit a LaRS 

form. This part has 5 columns and 9 lines. Report all amounts in whole dollars.

Enter all loan information in the appropriate column:

A) Federal Stafford (except Unsubsidized Stafford) and FISL

B) Federal PLUS

C) Federal SLS

D) Federal Consolidation

E) Federal Unsubsidized Stafford

1 Beginning Principal Balance Provide the outstanding principal balance (including the sum of 

capitalized interest outstanding) of loans at the start of business on 

the first day of the quarter. Unless an adjustment has been made, this 

amount must be the same as the Ending Principal Balance from the 

previous quarter's form. 

PLEASE NOTE: adjustments made to the prior quarter ending balance 

may be subject to review.

2 Loan Principal Disbursed No new FFEL loans can be disbursed after 7/1/2010.

3 Interest Capitalized or Other 

Principal Increase

Provide the amount of interest and unpaid insurance premiums, which 

were added to principal during the quarter in accordance with 

program regulations, principal transferred from other LIDs assigned to 

your institution, and any other increases in your portfolio not shown 

elsewhere.

4 Principal of Loans Purchased Provide the principal amount of loans purchased (including interest 

capitalized prior to purchase) from other Lenders. 

5 Principal of Loans Cured Provide the principal amount of loans (including the sum of interest 

capitalized prior to the reinstatement of the loan's insurance) on 

which insurance coverage was reinstated (cured) in accordance with 

program regulations.

6 Principal of Loans Sold Provide the principal amount of loans sold (including interest 

capitalized prior to sale) to other Lenders including the Department of 

Education. 

7 Principal Paid by Insurance 

Claims

Provide the amount received from the guarantor for principal 

(including interest capitalized prior to claim filing) for default, death, 

disability, bankruptcy and other claims authorized by statute, 

regulations, and policy.
Instructions

13

8 Principal of Loans on Which the 

Guarantee Was Voided

Provide the principal amount of loans (including interest capitalized 

prior to the loss of guarantee) on which the insurance guarantee was 

voided due to a due diligence, timely filing, or other violation.

9 Principal Paid by Borrowers and 

other Principal Reductions

Provide the amount of payment received to reduce outstanding 

principal and capitalized interest, including payments from borrowers, 

refunds received from schools, checks returned uncashed for loans 

reported disbursed in prior quarters, and principal transferred to other 

LIDS assigned to your institution. Do not include claim payments from 

guarantors.
Instructions

14

Part V – Loan Portfolio Status

Applicability: Part V shows the status of the outstanding guaranteed loan principal in your portfolio for 

each type of loan as of the end of the quarter covered by this form. Principal includes capitalized 

interest. Include all guaranteed loans in this part except for ones, which the guarantee was voided. 

Also, include loans, which were previously voided and then cured.

This part must be completed and submitted each time you submit a LaRS form. This part has 5 columns, 

each covering a specific type of loan, and 4 rows (with the third containing 8 sub lines). Report all 

amounts in whole dollars.

Enter all loan information in the appropriate column:

A) Federal Stafford (except unsubsidized Stafford) and FISL

B) Federal PLUS

C) Federal SLS

D) Federal Consolidation

E) Federal Unsubsidized Stafford

1 Loans in School and in Grace Provide in the principal amount of all Stafford, FISL and Unsubsidized 

Stafford loans in an "in school or grace period" status. Do not 

include loans for which the borrower has a deferment due to 

returning to school after expiration of the grace period. These loans 

are to be included in line 2. Also, note that this status does not 

apply to Federal PLUS, Federal SLS or Federal Consolidation loans.

2 Loans in Authorized Deferment Provide the principal amount of all loans in a period of authorized 

deferment.

3 Loans in Repayment or 

Forbearance

Provide the appropriate category the principal amount of all loans in 

a repayment for forbearance status. Include loans on which the 

grace period has ended and no deferment has been authorized, 

whether or not the borrower has made repayment arrangements or 

has made a payment. Do not include loans on which a claim has 

been filed with a guarantor in lines 3a through 3g. These loans are 

reported in line 3h.

4 Ending Principal Balance Provide the principal balance of outstanding loans at the end of 

business on the last day of the quarter. Allowing for rounding, this 

must equal the sum of lines 1,2, and 3a through 3h.

(4) = (1) + (2) + (3a) + (3b) + (3c) + (3d) + (3e) + (3f) + (3g) + (3h)