The U.S. Department of Education (ED) has released the special allowance rates for the quarter ending December 31, 1997. These rates are computed pursuant to Section 438(b)(2) of the Higher Education Act of 1965, as amended. The average of the bond equivalent rates of the 91-day Treasury bills auctioned during the three-month period ending December 31, 1997 is 5.24%. A complete listing of the special allowance rates can be found on the U.S. Department of Education’s web-site at http://ifap.ed.gov. If you are unable to access this web-site and would like a copy of the special allowance rates, please contact Lynda Reid at (801) 321-7211.

Any questions regarding this bulletin can be directed to the UHEAA Policy and Training Department at (801) 321-7166.