Federal Register / Vol. 70, No. 216 / Wednesday, November 9, 2005 / Notices 67999

the interest rates on the loans 

consolidated, rounded to the nearest 

whole percent, but may not be less than 

nine percent.

2. FFEL Consolidation loans for 

which the consolidation loan was made 

by the lender on or after July 1, 1994, 

and before November 13, 1997—the 

interest rate is the weighted average of 

the interest rates on the loans 

consolidated, rounded to the nearest 

whole percent. 

3. FFEL Consolidation loans for 

which the consolidation loan 

application was received by the lender 

on or after November 13, 1997, and 

before October 1, 1998—the interest rate 

may not exceed 8.25 percent: The 

interest rate for the period from July 1, 

2005, through June 30, 2006, is 6.10 

percent (3.00 percent plus 3.1 percent). 

4. FFEL Consolidation loans for 

which the consolidation loan 

application was received by the lender 

on or after October 1, 1998, and before 

July 1, 2006—the interest rate may not 

exceed 8.25 percent: The interest rate is 

the weighted average of the interest 

rates on the loans consolidated, rounded 

to the nearest higher 1⁄8 of one percent. 

5. If a portion of a Consolidation loan 

is attributable to a loan made under 

subpart I of part A of title VII of the 

Public Health Service Act, the 

maximum interest rate for that portion 

of a Consolidation loan is determined 

annually, for each 12-month period 

beginning on July 1 and ending on June 

30. The interest rate equals the average 

of the bond equivalent rates of the 91-

day Treasury bills auctioned for the 

quarter ending prior to July 1, plus three 

percent. For the quarter ending before 

July 1, 2005, the average 91-day 

Treasury bill rate was 2.943 percent 

(rounded to 2.94 percent). The 

maximum interest rate for the period 

from July 1, 2005, through June 30, 

2006, is 5.94 percent (2.94 percent plus 

3.0 percent). 

Electronic Access to This Document:

You may view this document, as well as 

all other documents of this Department 

published in the Federal Register, in 

text or Adobe Portable Document 

Format (PDF) on the Internet at the 

following site: http://www.ed.gov/news/

federegister.

To use PDF you must have Adobe 

Acrobat Reader, which is available free 

at this site. If you have questions about 

using PDF, call the U.S. Government 

Printing Office (GPO), toll free at 1–888–

293–6498; or in the Washington, DC 

area at (202) 512–1530.

Note: The official version of this document 

is the document published in the Federal 

Register. Free Internet access to the official 

edition of the Federal Register and the Code 

of Federal Regulations is available on GPO 

Access at: http://www.gpoaccess.gov/nara/

index.html

Program Authority: 20 U.S.C. 1087 et seq.

Dated: November 3, 2005. 

Theresa S. Shaw, 

Chief Operating Officer, Federal Student Aid.

[FR Doc. 05–22365 Filed 11–8–05; 8:45 am]

BILLING CODE 4000–01–P

DEPARTMENT OF EDUCATION

William D. Ford Federal Direct Loan 

Program

AGENCY: Federal Student Aid, 

Department of Education.

ACTION: Notice of interest rates for the 

William D. Ford Federal Direct Loan 

Program for the period July 1, 2005 

through June 30, 2006. 

SUMMARY: The Chief Operating Officer 

for Federal Student Aid announces the 

interest rates for loans made under the 

William D. Ford Federal Direct Loan 

(Direct Loan) Program for the period 

July 1, 2005 through June 30, 2006.

FOR FURTHER INFORMATION CONTACT: Don 

Watson, U.S. Department of Education, 

room 114I2, UCP, 400 Maryland 

Avenue, SW., Washington, DC 20202–

5400. Telephone: (202) 377–4008. 

If you use a telecommunications 

device for the deaf (TDD), you may call 

the Federal Relay Service (FRS) at 1–

800–877–8339. 

Individuals with disabilities may 

obtain this document in an alternative 

format (e.g., Braille, large print, 

audiotape, or computer diskette) on 

request to the contact person listed 

under FOR FURTHER INFORMATION

CONTACT.

SUPPLEMENTARY INFORMATION: Section 

455(b) of the Higher Education Act of 

1965, as amended (HEA), 20 U.S.C. 

1087e(b), provides formulas for 

determining the interest rates charged to 

borrowers for loans made under the 

Direct Loan Program including Federal 

Direct Stafford Loans (Direct Subsidized 

Loans), Federal Direct Unsubsidized 

Stafford Loans (Direct Unsubsidized 

Loans), Federal Direct PLUS Loans 

(Direct PLUS Loans), and Federal Direct 

Consolidation Loans (Direct 

Consolidation Loans). 

The Direct Loan Program includes 

loans with variable interest rates and 

loans with fixed interest rates. Most 

loans made under the Direct Loan 

Program have variable interest rates that 

change each year. The variable interest 

rate formula that applies to a particular 

loan depends on the date of the first 

disbursement of the loan. The variable 

rates are determined annually and are 

effective for each 12-month period 

beginning July 1 of one year and ending 

June 30 of the following year. 

In the case of some Direct 

Consolidation Loans, the interest rate is 

determined by the date on which the 

Direct Consolidation Loan application 

was received. Direct Consolidation 

Loans for which the application was 

received on or after February 1, 1999 

have a fixed interest rate based on the 

weighted average of the loans that are 

consolidated, rounded up to the nearest 

higher 1/8 of one percent. 

Pursuant to section 455(b) of the HEA, 

20 U.S.C. § 1087e(b), the Direct Loan 

interest rate formulas use the bond 

equivalent rates of the 91-day Treasury 

bills at the final auction held before 

June 1 of each year plus a statutory addon percentage to determine the variable 

interest rate for all Direct Subsidized 

Loans and Direct Unsubsidized Loans; 

Direct Consolidation Loans for which 

the application was received on or after 

July 1, 1998 and before February 1, 

1999; and Direct PLUS Loans disbursed 

on or after July 1, 1998. 

The bond equivalent rate of the 91-

day Treasury bills auctioned on May 31, 

2005, which is used to calculate the 

interest rates on these loans, is 2.998 

percent, which is rounded to 3.00 

percent. 

In addition, pursuant to section 455(b) 

of the HEA, 20 U.S.C. 1087e(b), as 

amended by Public Law 106–554, the 

Consolidated Appropriations Act 2001, 

the interest rate for Direct PLUS Loans 

that were disbursed on or after July 1, 

1994 and on or before July 1, 1998, is 

calculated based on the weekly average 

of a 1-year constant maturity Treasury 

yield, as published by the Board of 

Governors of the Federal Reserve 

System, for the last calendar week 

ending on or before June 26 plus a 

statutory add-on percentage.

The last calendar week ending on or 

before June 26, 2005 began on June 19, 

2005 and ended on June 25, 2005. On 

June 27, 2005, the Board of Governors 

of the Federal Reserve System published 

the 1-year constant maturity Treasury 

yield average as 3.40 percent. 

Below is specific information on the 

calculation of the interest rates for the 

Direct Loan Program. This information 

is listed in order by the date a loan was 

first disbursed or by the date that the 

Consolidation Application was 

received. 

In addition, a summary of the interest 

rates that are effective for the period 

July 1, 2005 through June 30, 2006, is 

included on charts at the end of this 

notice. These charts are organized by 

68000 Federal Register / Vol. 70, No. 216 / Wednesday, November 9, 2005 / Notices 

loan type. In each chart, the interest 

rates are arranged by the date a loan was 

first disbursed or by the date that the 

consolidation application was received. 

For Direct Loan Program Loans First 

Disbursed on or After July 1, 1994, and 

Before July 1, 1995—

The interest rate for Direct Subsidized 

Loans, Direct Unsubsidized Loans, and 

Direct Subsidized and Unsubsidized 

Consolidation Loans is the bond 

equivalent rate of the 91-day Treasury 

bills auctioned at the final auction held 

before June 1 plus 3.1 percent. These 

interest rates may not exceed 8.25 

percent during any period. From July 1, 

2005, to June 30, 2006, the interest rate 

for Direct Subsidized Loans, Direct 

Unsubsidized Loans, and Direct 

Subsidized and Unsubsidized 

Consolidation Loans that were first 

disbursed on or after July 1, 1994, and 

before July 1, 1995, is 6.1 percent during 

all periods. 

The interest rate for Direct PLUS 

Loans and Direct PLUS Consolidation 

Loans is the weekly average of a 1-year 

constant maturity Treasury yield, as 

published by the Board of Governors of 

the Federal Reserve System, for the last 

calendar week ending on or before June 

26 plus 3.1 percent. These interest rates 

may not exceed 9.0 percent during any 

period. From July 1, 2005, to June 30, 

2006, the interest rate for Direct PLUS 

Loans and Direct PLUS Consolidation 

Loans that were first disbursed on or 

after July 1, 1994 and before July 1, 

1995, is 6.50 percent for all periods. 

For Direct Loan Program Loans First 

Disbursed on or After July 1, 1995, and 

Before July 1, 1998—

The interest rate for Direct Subsidized 

Loans, Direct Unsubsidized Loans, and 

Direct Subsidized and Unsubsidized 

Consolidation Loans is the bond 

equivalent rate of the 91-day Treasury 

bills auctioned at the final auction held 

before June 1 plus 3.1 percent. However, 

during in-school, grace, and deferment 

periods, the interest rate formula is the 

bond equivalent rate of the 91-day 

Treasury bills auctioned at the final 

auction held before June 1 plus 2.5 

percent. These interest rates may not 

exceed 8.25 percent during any period. 

From July 1, 2005, to June 30, 2006, the 

interest rate for Direct Subsidized 

Loans, Direct Unsubsidized Loans, and 

Direct Subsidized and Unsubsidized 

Consolidation Loans that were first 

disbursed on or after July 1, 1995, and 

before July 1, 1998, is 5.50 percent 

during in-school, grace, and deferment 

periods and 6.10 percent during all 

other periods. 

The interest rate for Direct PLUS 

Loans and Direct PLUS Consolidation 

Loans is the weekly average of a 1-year 

constant maturity Treasury yield, as 

published by the Board of Governors of 

the Federal Reserve System, for the last 

calendar week ending on or before June 

26 plus 3.1 percent. These interest rates 

may not exceed 9.0 percent during any 

period. From July 1, 2005, to June 30, 

2006, the interest rate for Direct PLUS 

Loans and Direct PLUS Consolidation 

Loans that were first disbursed on or 

after July 1, 1995 and before July 1, 

1998, is 6.50 percent during all periods.

For Direct Loans First Disbursed On or 

After July 1, 1998, and Before October 

1, 1998—

The interest rate for Direct Subsidized 

Loans, Direct Unsubsidized Loans, and 

Direct Subsidized and Unsubsidized 

Consolidation Loans is the bond 

equivalent rate of the 91-day Treasury 

bills auctioned at the final auction held 

before June 1 plus 2.3 percent. However, 

during in-school, grace, and deferment 

periods, the interest rate formula is the 

bond equivalent rate of the 91-day 

Treasury bills auctioned at the final 

auction held before June 1 plus 1.7 

percent. These interest rates may not 

exceed 8.25 percent during any period. 

From July 1, 2005, to June 30, 2006, the 

interest rate for Direct Subsidized 

Loans, Direct Unsubsidized Loans, and 

Direct Subsidized and Unsubsidized 

Consolidation Loans that were first 

disbursed on or after July 1, 1998 and 

before October 1, 1998, is 4.70 percent 

during in-school, grace, and deferment 

periods and 5.30 percent during all 

other periods. 

The interest rate for Direct PLUS 

Loans and Direct PLUS Consolidation 

Loans is the bond equivalent rate of the 

91-day Treasury bills auctioned at the 

final auction held before June 1 plus 3.1 

percent. These interest rates may not 

exceed 9.0 percent during any period. 

From July 1, 2005, to June 30, 2006, the 

interest rate for Direct PLUS Loans and 

Direct PLUS Consolidation Loans that 

were disbursed on or after July 1, 1998, 

and before October 1, 1998, is 6.10 

percent during all periods. 

For Direct Subsidized Loans, Direct 

Unsubsidized Loans, Direct PLUS 

Loans First Disbursed On or After 

October 1, 1998, and Before July 1, 

2006—

The interest rate for Direct Subsidized 

Loans and Direct Unsubsidized Loans is 

the bond equivalent rate of the 91-day 

Treasury bills auctioned at the final 

auction held before June 1 plus 2.3 

percent. However, during in-school, 

grace, and deferment periods, the 

interest rate formula is the bond 

equivalent rate of the 91-day Treasury 

bills plus 1.7 percent. These interest 

rates may not exceed 8.25 percent 

during any period. From July 1, 2005, to 

June 30, 2006, the interest rate for Direct 

Subsidized Loans and Direct 

Unsubsidized Loans that were disbursed 

after July 1, 1998, and before July 1, 

2005, is 4.70 percent during in-school, 

grace, and deferment periods and 5.30 

percent during all other periods. 

The interest rate for Direct PLUS 

Loans is the bond equivalent rate of the 

91-day Treasury bills auctioned at the 

final auction held before June 1 plus 3.1 

percent. These interest rates may not 

exceed 9.0 percent during any period. 

From July 1, 2005, to June 30, 2006, the 

interest rate for Direct PLUS Loans that 

were disbursed after July 1, 1998, and 

before July 1, 2006, is 6.10 percent 

during all periods. 

For Direct Consolidation Loans First 

Disbursed On or After October 1, 1998 

and for Which the Application Was 

Received Before October 1, 1998—

The interest rate for Direct Subsidized 

and Unsubsidized Consolidation Loans 

is the bond equivalent rate of the 91-day 

Treasury bills auctioned at the final 

auction held before June 1 plus 2.3 

percent. However, during in-school, 

grace, and deferment periods, the 

interest rate formula is the bond 

equivalent rate of the 91-day Treasury 

bills auctioned at the final auction held 

before June 1 plus 1.7 percent. These 

interest rates may not exceed 8.25 

percent during any period. From July 1, 

2005, to June 30, 2006, the interest rate 

for Direct Subsidized Loans, Direct 

Unsubsidized Loans, and Direct 

Subsidized and Unsubsidized 

Consolidation Loans that were first 

disbursed on or after July 1, 1998 and 

before October 1, 1998, is 4.70 percent 

during in-school, grace, and deferment 

periods and 5.30 percent during all 

other periods. 

The interest rate for Direct PLUS 

Consolidation Loans is the bond 

equivalent rate of the 91-day Treasury 

bills auctioned at the final auction held 

before June 1 plus 3.1 percent. These 

interest rates may not exceed 9.0 

percent during any period. From July 1, 

2005, to June 30, 2006, the interest rate 

for Direct PLUS Loans and Direct PLUS 

Consolidation Loans that were 

disbursed on or after July 1, 1998, and 

before October 1, 1998, is 6.10 percent 

during all periods. 

Federal Register / Vol. 70, No. 216 / Wednesday, November 9, 2005 / Notices 68001

For Direct Consolidation Loans for 

Which the Application Was Received 

on or After October 1, 1998, and Before 

February 1, 1999—

The interest rate for Direct 

Consolidation Loans for which the 

application was received on or after 

October 1, 1998 and before February 1, 

1999 is the bond equivalent rate of the 

91-day Treasury bills auctioned at the 

final auction held before June 1 plus 2.3 

percent. These interest rates may not 

exceed 8.25 percent during any period. 

From July 1, 2005, to June 30, 2006, the 

interest rate for Direct Consolidation 

Loans for which the application was 

received on or after October 1, 1998 and 

before February 1, 1999, is 5.30 percent 

during all periods. 

For Direct Consolidation Loans for 

Which the Application Was Received 

On or After February 1, 1999, and 

Before July 1, 2006—

The interest rate for Direct 

Consolidation Loans for which the 

application was received on or after 

February 1, 1999, and before July 1, 

2006, is the lesser of 8.25 percent, or the 

weighted average of the loans 

consolidated, rounded to the nearest 

higher 1/8 of one percent. Electronic 

Access to This Document: You may 

view this document, as well as all other 

documents of this Department 

published in the Federal Register, in 

text or Adobe Portable Document 

Format (PDF) on the Internet at the 

following site: http:www.ed.gov/news/

federegister.

To use PDF you must have Adobe 

Acrobat Reader, which is available free 

at this site. If you have questions about 

using PDF, call the U.S. Government 

Printing Office (GPO), toll free at 1–888–

293–6498; or in the Washington, DC, 

area at (202) 512–1530.

Note: The official version of this document 

is the document published in the Federal 

Register. Free Internet access to the official 

edition of the Federal Register and the Code 

of Federal Regulations is available on GPO 

Access at: http:www.gpoaccess.gov/nara/

index.html

Program Authority: 20 U.S.C. 1087 et seq.

Dated: November 3, 2005. 

Theresa S. Shaw, 

Chief Operating Officer, Federal Student Aid.

Status Treasury

instrument Add-on 

Interest rate 

for

7/1/2004 

through

6/30/2005 

Maximum 

interest

rate 

Federal Direct Subsidized Loans and Federal Direct Unsubsidized Loans

Loans with first disbursement date between 7/1/1994 and 6/

30/1995: Any status.

91-day T-bill 

3.00

+ 3.1 = 6.10 8.25 

Loans with first disbursement date between 7/1/1995 and 6/

30/1998: 

Repayment or forbearance ................................................. 91-day T-bill 

3.00

+ 3.1 = 6.10 8.25 

In-school, grace, or deferment ............................................ 91-day T-bill 

3.00

+ 2.5 = 5.50 8.25 

Loans with first disbursement date on or after 7/1/1998: 

Repayment or forbearance ................................................. 91-day T-bill 

3.00

+ 2.3 = 5.30 8.25 

In-school, grace, or deferment ............................................ 91-day T-bill 

3.00

+ 1.7 = 4.70 8.25 

Federal Direct Subsidized Consolidation Loans and Federal Direct Unsubsidized Consolidation Loans

Loans with first disbursement date between 7/1/1994 and 6/

30/1995: Any status.

91-day T-bill 

3.00

+ 3.1 = 6.10 8.25 

Loans with first disbursement date between 7/1/1995 and 6/

30/1998: 

Repayment or forbearance ................................................. 91-day T-bill 

3.00

+ 3.1 = 6.10 8.25 

In-school, grace, or deferment ............................................ 91-day T-bill 

3.00

+ 2.5 = 5.50 8.25 

Loans with first disbursement date between 7/1/1998 and 9/

30/1998 and loans with first disbursement date on or after 

10/1/1998 for which the application was received before 10/

1/1998: 

Repayment or forbearance ................................................. 91-day T-bill 

3.00

+ 2.3 = 5.30 8.25 

In-school, grace, or deferment ............................................ 91-day T-bill 

3.00

+ 1.7 = 4.70 8.25 

Loans for which the application was received between 10/01/

1998 and 1/31/1999: Any status.

91-day T-bill 

3.00

+ 2.3 = 5.30 8.25 

Loans for the application was received on or after 2/01/1999: 

Any status.

The lesser of 8.25 percent or the weighted average of the loans 

application consolidated, rounded to the next higher 1/8 of one 

percent. 

8.25 

Federal Direct PLUS Loans

Loans with first disbursement date before 7/1/1998: Any status 1-year constant maturity 

Treasury yield 

3.40

+ 3.1 = 6.50 9.00 

68002 Federal Register / Vol. 70, No. 216 / Wednesday, November 9, 2005 / Notices 

1Energy Policy Act of 2005, Pub. L. 109–58, 

§ 1252(e)(3), 119 Stat. 594, (2005) (EPAct section 

1252(e)(3)).

2Energy Policy Act of 2005, Pub. L. 109–58, 

§ 1252(e)(3), 119 Stat. 594, (2005) (EPAct section 

1252(e)(3)).

Status Treasury

instrument Add-on 

Interest rate 

for

7/1/2004 

through

6/30/2005 

Maximum 

interest

rate 

Loans with first disbursement date on or after 7/1/1998: Any 

status.

91-day T-bill 

3.00

+ 3.1 = 6.10 9.00 

Federal Direct PLUS Consolidation Loans

Loans with first disbursement date before 7/1/1998: Any status 1-year constant maturity 

Treasury yield 

3.40

+ 3.1 = 6.50 9.00 

Loans with first disbursement date between 7/1/1998 and 9/

30/1998 and loans with first disbursement date on or after 

10/1/1998 for which the application was received before 10/

1/1998: Any status.

91-day T-bill 

3.00

+ 3.1 = 6.10 9.00 

Loans for which the application was received between 10/01/

1998 and 1/31/1999: Any status.

91-day T-bill 

3.00

+ 2.3 = 5.30 8.25 

Loans for which the application was received on or after 2/01/

1999: Any status.

The lesser of 8.25 percent or the weighted average of the loans 

application consolidated, rounded to the next higher was received 1/8 of one percent. 

8.25

[FR Doc. 05–22366 Filed 11–8–05; 8:45 am]

BILLING CODE 4000–01–P

DEPARTMENT OF ENERGY

Federal Energy Regulatory 

Commission 

[Docket No. AD06–2–000] 

Assessment of Demand Response 

Resources 

November 3, 2005.

AGENCY: Federal Energy Regulatory 

Commission, DOE.

ACTION: Notice of Proposed Voluntary 

Survey and Technical Conference. 

SUMMARY: Pursuant to the Energy Policy 

Act of 2005 (EPAct 2005) section 

1252(e)(3),1 the Federal Energy 

Regulatory Commission (Commission) is 

preparing a report, by appropriate 

region, that assesses demand response 

resources, including those available 

from all consumer classes. A voluntary 

survey and technical conference are 

proposed to obtain information that will 

assist in preparing and publishing this 

report.

DATES: (1) Comments on the proposed 

survey questions should be filed 

December 5, 2005. 

(2) Requests to participate in the 

technical conference are due December 

5, 2005. 

(3) Comments on the proposed 

technical conference topics are due 

December 19, 2005.

ADDRESSES: Comments may be filed 

electronically via the eFiling link on the 

Commission’s Web site at http://

www.ferc.gov. Commenters unable to 

file comments electronically must send 

an original and 14 copies of their 

comments to: Federal Energy Regulatory 

Commission, Office of the Secretary, 

888 First Street NE., Washington, DC 

20426. Please refer to the Comment 

Procedures section of the preamble for 

additional information on how to file 

comments.

FOR FURTHER INFORMATION CONTACT: 

David Kathan (Technical 

Information), Office of Markets, Tariffs 

and Rates, Federal Energy Regulatory 

Commission, 888 First Street, NE., 

Washington, DC 20426, (202) 502–6404, 

David.Kathan@ferc.gov.

Aileen Roder (Legal Information), 

Office of the General Counsel, Federal 

Energy Regulatory Commission, 888 

First Street, NE., Washington, DC 20426, 

(202) 502–6022, Aileen.Roder@ferc.gov.

SUPPLEMENTARY INFORMATION: 1. Take 

notice that a survey on the saturation 

and penetration of advanced meters is 

being proposed and that a technical 

conference, with comments, on issues 

raised by the Energy Policy Act of 2005 

(EPAct 2005) section 1252(e)(3) 2 will be 

held. Comments on the survey are due 

by December 5, 2005. The date, location, 

and agenda of the conference will be 

announced in a subsequent notice. 

Those wishing to participate in the 

technical conference should notify 

Commission staff by December 5, 2005. 

Finally, comments on the demand 

response issues addressed in the statute 

are due by December 19, 2005. These 

comments will help inform the 

discussion at the technical conference.

I. Background 

2. Section 1252(e)(3) of EPAct 2005 

requires the Commission to draft and 

publish a report, by appropriate region, 

that assesses demand response 

resources, including those available 

from all consumer classes. Specifically, 

EPAct 2005 requires that the 

Commission identify and review:

(A) Saturation and penetration rates of 

advanced meters and 

communications technologies, 

devices and systems; 

(B) Existing demand response 

programs and time-based rate 

programs; 

(C) The annual resource contribution 

of demand resources; 

(D) The potential for demand 

response as a quantifiable, reliable 

resource for regional planning 

purposes;

(E) Steps taken to ensure that, in 

regional transmission planning and 

operations, demand resources are 

provided equitable treatment as a 

quantifiable, reliable resource 

relative to the resource obligations 

of any load-serving entity, 

transmission provider, or 

transmitting party; and 

(F) Regulatory barriers to improved 

customer participation in demand 

response, peak reduction and 

critical period pricing programs. 

3. A survey is proposed to obtain the 

needed information on meter saturation 

and penetration. With respect to the 

other issues the Commission must 

address in the report, input from state 

regulators and members of the industry 

will enhance its ability to present a 

comprehensive and well informed