The U.S. Department of Education published the Federal Family Education Loan (FFEL) Program special allowance rates on October 15, 2026, for the quarter ending September 30, 2026. The notice provides quarterly benchmarks and an accompanying calculation memo for organizations administering FFEL loan portfolios.
Treasury Bill Rate
The Treasury bill rate is the average of the bond equivalent rates of the 13-week Treasury bills as published by the U.S. Department of the Treasury. For the quarter ending Sept. 30, 2026, the average of the rates is 3.91%.
Commercial Paper Rate
The commercial paper rate is the average of the bond equivalent rates of the quotes of the 3-month commercial paper financial rates in effect for each of the days in such quarter as reported by the Federal Reserve in Publication H-15 (or its successor) for such 3-month period. For the quarter ending Sept. 30, 2026, the average rate used to compute special allowance is 3.95%.
SOFR
The Secured Overnight Financing Rate (SOFR) is the average of the bond equivalent rates of the quotes of the 30-day SOFR in effect for each day in such quarter as complied by the Federal Reserve Bank of New York, after adjusting daily by adding the Tenor Spread Adjustment. For the quarter ending Sept. 30, 2026, the average of the rates is 3.82%.
Attachments
SOURCE: Federal Family Education Loan Program Special Allowance Rates for the Quarter Ending Sept. 30, 2026