Special Allowance Rates
 
    The U.S. Department of Education (ED) releases special allowance rates on a quarterly basis.  These rates are computed pursuant to section 438 of the Higher Education Act of 1965, as amended.  The average bond equivalent rate of the ninety-one day Treasury Bills auctioned during the quarter ending June 30, 2004 is 1.12 percent.  In addition, the average bond equivalent rate of the quotes of the 3-month commercial paper (financial) rates in effect for each day in the quarter ending June 30, 2004 is 1.23 percent.

    A copy of the special allowance rates can be found on ED’s web site at http://www.ifap.ed.gov/ffelspecrates/SAPmemo72004.html.  If you would like a hard copy, please contact Becky Hudson at 801.321.7211.  If you have any further questions or need additional information on special allowance rates, please contact Brad Ewell at 801.321.7295 or by e-mail at bwell@utahsbr.edu.
 
    Any questions related to this Bulletin should be directed to the UHEAA Policy and Training Department at 801.321.7166.