Tpd Disharge Assignment Form - U.s. Department Of Education - 2010 Page 19
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24GUARANTY AGENCY TPD DISCHARGE ASSIGNMENT FORMAT
ASSIGNMENT FORM
SECTION C -- HISTORICAL LOAN INFORMATION (continued)
Box
Box Title
Description and Remarks
67
Current Interest Rate Type
REQUIRED. The current interest rate type. Valid
values are:
F
= Fixed
8
= 8-10% balloon rate
A = Variable rate based on 91-day T-Bill rate
B = Variable rate based on 52-week T-Bill rate.
When A or B, Variable Interest Add-On Rate (Box
#69) and Interest Rate Cap (Box #70) must also be
supplied.
68
Current Interest Rate
REQUIRED. The current interest rate on the loan.
Must be percentage. May be less than 2% or more
than 20% ONLY if loan was litigated and judgment
was rendered.
69
Variable Interest
REQUIRED if loan has a variable interest rate. A
Add-On Rate
component of the variable interest rate that is fixed for
the full term of the loan. This value, when added to
the T-Bill value for a given year, is the variable
interest rate for that year. Must be appropriate value
when Current Interest Rate Type (Box #67) = A or B;
otherwise, leave blank. May not be greater than 10%.
Must be percentage (e.g., 3.10%).
70
Interest Rate Cap
REQUIRED if loan has a variable interest rate. The
highest interest rate that can be charged for the loan.
This rate is fixed for the duration of the debt. Must be
a valid value when Current Interest Rate Type (Box
#67) = A or B; may not be less than the current
Interest Rate or greater than 20%. When Current
Interest Rate Type = F or 8, leave blank. Must be
percentage (e.g., 18.75%).
Page 19 of 24
ADVERTISEMENT
0 votes
Related Articles
Related Categories
Parent category: Legal