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23286 Federal Register / Vol. 64, No.

83 / Friday, April 30, 1999 / Notices

between 8 a.m. and 8 p.m., Eastern time, Reporting and Recordkeeping Hour SUPPLEMENTARY INFORMATION: Section
Monday through Friday. Burden: 3506 of the Paperwork Reduction Act of
SUPPLEMENTARY INFORMATION: Section
Responses: 3,900. 1995 (44 U.S.C. Chapter 35) requires
3506 of the Paperwork Reduction Act of Burden Hours: 3,150. that the Office of Management and
1995 (44 U.S.C. Chapter 35) requires Abstract: The Civics Education Budget (OMB) provide interested
that the Office of Management and Project is a multi-national project Federal agencies and the public an early
Budget (OMB) provide interested coordinated by the International opportunity to comment on information
Federal agencies and the public an early Association for the Evaluation of collection requests. OMB may amend or
opportunity to comment on information Educational Achievement (IEA). More waive the requirement for public
collection requests. OMB may amend or than 20 countries are involved in this consultation to the extent that public
waive the requirement for public collaborative effort to conduct a participation in the approval process
consultation to the extent that public comparative analysis of civic education would defeat the purpose of the
around the world. The IEA study has information collection, violate State or
participation in the approval process
two phases. Phase 1 involves Federal law, or substantially interfere
would defeat the purpose of the
documenting what participating with any agency’s ability to perform its
information collection, violate State or
countries believe is important for 14- statutory obligations. The Acting
Federal law, or substantially interfere
year-olds to know about a wide range of Leader, Information Management
with any agency’s ability to perform its
civic and political topics. Phase 2 Group, Office of the Chief Information
statutory obligations. The Acting
involves a student assessment to assess Officer, publishes that notice containing
Leader, Information Management
their civic knowledge, skills, attitudes, proposed information collection
Group, Office of the Chief Information
and actions. requests prior to submission of these
Officer, publishes that notice containing
[FR Doc. 99–10816 Filed 4–29–99; 8:45 am] requests to OMB. Each proposed
proposed information collection
information collection, grouped by
requests prior to submission of these BILLING CODE 4000–01–P
office, contains the following: (1) Type
requests to OMB. Each proposed
of review requested, e.g. new, revision,
information collection, grouped by
DEPARTMENT OF EDUCATION extension, existing or reinstatement; (2)
office, contains the following: (1) Type
title; (3) summary of the collection; (4)
of review requested, e.g. new, revision,
Submission for OMB Review; description of the need for, and
extension, existing or reinstatement; (2)
Comment Request proposed use of, the information; (5)
Title; (3) Summary of the collection; (4)
respondents and frequency of
Description of the need for, and AGENCY: Department of Education. collection; and (6) reporting and/or
proposed use of, the information; (5) SUMMARY: The Acting Leader, Recordkeeping burden. OMB invites
Respondents and frequency of Information Management Group, Office public comment at the address specified
collection; and (6) Reporting and/or of the Chief Information Officer invites above. Copies of the requests are
Recordkeeping burden. OMB invites comments on the submission for OMB available from Patrick J. Sherrill at the
public comment at the address specified review as required by the Paperwork address specified above.
above. Copies of the requests are Reduction Act of 1995.
available from Patrick J. Sherrill at the Dated: April 27, 1999.
DATES: Interested persons are invited to William E. Burrow,
address specified above. The
submit comments on or before June 1, Acting Leader, Information Management
Department of Education is especially
1999. Group, Office of the Chief Information Officer.
interested in public comment
addressing the following issues: (1) is ADDRESSES: Written comments should
be addressed to the Office of Office of Student Financial Assistance
this collection necessary to the proper Programs
functions of the Department; (2) will Information and Regulatory Affairs,
this information be processed and used Attention: Danny Werfel, Desk Officer, Type of Review: Extension.
Department of Education, Office of Title: Student Right-to-Know.
in a timely manner; (3) is the estimate
Management and Budget, 725 17th Frequency: Annually.
of burden accurate; (4) how might the Affected Public: Business or other for-
Department enhance the quality, utility, Street, NW, Room 10235, New
Executive Office Building, Washington, profit; Not-for-profit institutions.
and clarity of the information to be Reporting and Recordkeeping Burden:
collected; and (5) how might the D.C. 20503 or should be electronically
Responses: 8,000.
Department minimize the burden of this mailed to the internet address
Burden Hours: 240,100.
collection on the respondents, including DWERFEL@OMB.EOP.GOV. Requests Abstract: These regulations require
through the use of information for copies of the proposed information institutions that participate in a Title IV,
technology. collection requests should be addressed Higher Education Act of 1965 program
to Patrick J. Sherrill, Department of to make available to students and
Dated: April 26, 1999. Education, 400 Maryland Avenue, S.W.,
William E. Burrow, prospective students the graduation
Room 5624, Regional Office Building 3, rates of full-time undergraduates, and
Acting Leader, Information Management Washington, D.C. 20202–4651, or
Group, Office of the Chief Information Officer. institutions that also are attended by
should be electronically mailed to the students receiving athletically related
Office of Educational Research and internet address Pat Sherrill@ed.gov, or student aid to make available to
Improvement should be faxed to 202–708–9346. prospective student-athletes, and their
FOR FURTHER INFORMATION CONTACT: parents, coaches, and counselors the
Type of Review: Revision. Patrick J. Sherrill (202) 708–8196. graduation rates of students, and
Title: IEA Civics Education Project— Individuals who use a student athletes, by race, gender, and
Pilot Test and Full Scale. telecommunications device for the deaf sport.
Frequency: One time. (TDD) may call the Federal Information
Affected Public: Individuals or Relay Service (FIRS) at 1–800–877–8339 Office of Special Education and
households; State, local or Tribal Gov’t, between 8 a.m. and 8 p.m., Eastern time, Rehabilitative Services
SEAs or LEAs. Monday through Friday. Type of Review: New.
Federal Register / Vol. 64, No. 83 / Friday, April 30, 1999 / Notices 23287

Title: Protection and Advocacy of 8242. Individuals who use a The bond equivalent rate of 91-day
Individual Rights (PAIR) Program telecommunications device for the deaf Treasury bills auctioned on may 26,
Assurances. (TDD) may call the Federal Information 1998, is 5.155 percent, which round to
Frequency: Annually. Relay Service (FIRS) at 1–800–877– 5.16 percent.
Affected Public: Not-for-profit 8339.
institutions. William D. Ford Federal Direct Loan
Individuals with disabilities may
Reporting and Recordkeeping Hour Program
obtain this document in an alternate
Burden: format (e.g., Braille, large print, 1. Direct Subsidized and Direct
Responses: 57. audiotape, or computer diskette) on Unsubsidized loans, first disbursed on
Burden Hours: 9. request to the contact person. or after October 1, 1998:
Abstract: Section 509 of the (a) During the in-school, grace, and
SUPPLEMENTARY INFORMATION: General—
Rehabilitation Act of 1973 as amended deferment periods:
(Act), and its implementing Federal The formulas for determining the
interest rates for Direct Loan and FFEL The interest rate for the period
Regulations at 34 CFR part 381, require October 1, 1998, through June 30, 1999,
the PAIR grantees to submit an Program loans are provided in sections
455(b), 427A, and 428C of the Higher is 6.86 percent (5.16 percent plus 1.7
application to the RSA Commissioner in percent equals 6.86 percent).
order to receive assistance under section Education Act of 1965, as amended
(b) During all other periods:
509 of the Act. The Act requires that the (HEA). These provisions are amended
The interest rate for the period
application contain Assurances to by sections 452 and 416 of the Higher
October 1, 1998, through June 30, 1999,
which the grantee must comply. Section Education Amendments of 1998 (Pub. L.
is 7.46 percent (5.16 percent plus 2.3
509(f) of the Act specifies the 105–244), which were enacted on
percent equals 7.46 percent).
Assurances. There are 57 PAIR grantees. October 7, 1998. The 1998 Amendments
2. Direct PLUS loans first disbursed
All 57 grantees are required to be part extend to July 1, 2003, the interest rate
on or after October 1, 1998:
of the protection and advocacy system formulas for student and parent loans
The interest rate for the period
in each State established under the that have been in effect since July 1,
October 1, 1998, through June 30, 1999,
Developmental Disabilities Assistance 1998.
is 8.26 percent (5.16 percent plus 3.1
and Bill of Rights Act (42 USC 6041 et The interest rate calculations for all
percent equals 8.26 percent).
seq.). student and parent loans in the Direct 3. Direct Consolidation loans for
Loan and FFEL programs for which the which the application is received on or
[FR Doc. 99–10842 Filed 4–29–99; 8:45 am] first disbursement is made on or after after October 1, 1998, and before
BILLING CODE 4000–01–P October 1, 1998, are based on the bond February 1, 1999:
equivalent rate of the 91-day Treasury The interest rate for the period
bills auctioned a the final auction held October 1, 1998, through June 30, 1999,
DEPARTMENT OF EDUCATION before June 1. is 7.46 percent (5.16 percent plus 2.3
The Amendments change the percent equal 7.46 percent).
Office of Student Financial Assistance,
formulas for setting interest rates on 4. Direct Consolidation loans for
William D. Ford Federal Direct Loan
Consolidation loans under both the which the application is received on or
Program and Federal Family Education
Direct Loan and the FFEL programs. after February 1, 1999:
Loan Program.
However, the bill sets different effective The interest rate is the weighted
AGENCY: Department of Education. dates for each program. The interest rate average of the interest rates on loans and
ACTION: Notice of interest rates for the for new Consolidation loans is being consolidated, rounded to the
period October 1, 1998, through June 30, calculated by taking the weighted nearest higher 1/8th of one percent, but
1999, for new loans made under the average of the loans being consolidated, may not exceed 8.25 percent. The rate
William D. Ford Federal Direct Loan and rounding up to the nearest higher does not vary annually; it is established
1⁄8th of 1 percent. Except as noted below
(Direct Loan) Program and the Federal for the life of the loan.
Family Education Loan (FFEL) Program. under Federal Family Education Loan
Program, it is a fixed rate and may not Federal Family Education Loan
SUMMARY: The Chief Operating Officer exceed 8.25 percent. This interest rate Program
for the Office of Student Financial formula applies to FFEL Consolidation 1. FFEL Stafford loans, first disbursed
Assistance Programs announces the loans for which the application is on or after October 1, 1998:
interest rates for the period October 1, received by an eligible lender on or after (a) During the in-school, grace, and
1998, through June 30, 1999, for loans October 1, 1998, and before July 1, 2003. deferment periods:
first disbursed on or after October 1, The same formula applies to Direct Loan The interest rate for the October 1,
1998, under the William D. Ford Federal Consolidation loans for which the 1998, through June 30, 1999, is 6.86
Direct Loan (Direct Loan) Program and application is received on or after percent (5.16 percent plus 1.7 percent
the Federal Family Education Loan February 1, 1999,and before July 1, equals 6.86 percent.
(FFEL) Program. 2003. The 1998 Amendments establish (b) During all other periods:
FOR FURTHER INFORMATION CONTACT: For temporary rules for calculating the The interest rate for the period
the Federal Family Education Loan interest rate for Direct Loan October 1, 1998, through June 30, 1999,
Program: Brian Smith, Program Consolidation loans (both student and is 7.46 percent plus 2.3 percent equals
Specialist. For the William D. Ford parent) for which the application is 7.46 percent).
Federal Direct Loan Program: Barbara F. received on or after October 1, 1998, and 2. FFEL PLUS loans first disbursed on
Grayson, Program Specialist, Mailing before February 1, 1999. For these loans, or after October 1, 1998:
Address: Policy Development Division, the interest rate is determined annually The interest rate for the October 1,
Office of Student Financial and equals the bond equivalent rate of 1998, through June 30, 1999, is 8.26
Assistance,U.S. Department of 91-day Treasury bills auctioned at the percent (5.16 percent plus 3.1 percent
Education, Room 3045, ROB–3, 400 final auction held before June 1st plus equals 8.26 percent).
Maryland Avenue, SW, Washington, DC 2.3 percent. The interest rate is capped 3. FFEL Consolidation loans for
20202–5345. Telephone: (202) 708– at 8.25 percent. which the consolidation loan