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Date: September 30, 2003 To: Lenders and Schools Participating in the Health Education Assistance Loan (HEAL) Program Subject: Maximum
HEAL Interest Rates for the Quarter Ending December 31, 2003. Section 60.13 (a) (4) of the HEAL Regulations requires the Secretary of Health and Human Services to announce the maximum quarterly interest rate in effect for HEAL loans.
We have enclosed HEAL quarterly interest rates for the last four quarters. Interest rates since the inception of the program are available upon request. If you have any questions regarding the HEAL interest or Treasury Bill rates, please do not hesitate to contact Mr. Richard Rind at (301) 443-3872. Nancy
Durham HEAL
Variable Interest Rates
*Legislation Amended – 12 percent annual interest cap repealed – quarterly interest rate on loans made on or after 01/27/1981, became a floating rate based on 91-day T-Bill rate plus 3 ½ percent. **Legislation Amended – Variable interest rate calculation amended – quarterly interest rate on loans made on or after 10/22/1985 is based on loans made on a floating rate of the average 91-day T-Bill rate plus 3 percent. | |||||||||||||||||||||||||||||||||||||||||||
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