Fed. Reg. Notices — Notice of an open meeting

BILLING CODE 3710-GN-M DEPARTMENT OF EDUCATION The Historically Black Colleges and Universities Capital Financing Advisory Board AGENCY: Department of Education. ACTION: Notice of an open meeting. SUMMARY: This notice sets forth the schedule and proposed agenda of an upcoming open meeting of the Historically Black Colleges and Universities Capital Financing Advisory Board. The notice also describes the functions of the Board. Notice of this meeting is required by section 10(a)(2) of the Federal Advisory Committee Act and is intended to notify the public of their opportunity to attend.

DATES: Friday, November 30, 2007. *Time:* 10 a.m.-2 p.m. ADDRESSES: Clark Atlanta University, Board Room, Thomas W. Cole Science Research Center, 223 J.P. Brawley Drive, SW., Atlanta, Georgia 30314. FOR FURTHER INFORMATION CONTACT: Don E. Watson, Executive Director, Historically Black College and University Capital Financing Program, 1990 K Street, NW., Room 6130, Washington, DC 20006; telephone:

(202)219-7037; fax:

(202)502-7852; e-mail: *donald.watson@ed.gov.* Individuals who use a telecommunications device for the deaf

(TDD)may call the Federal Information Relay Service

(FRS)at 1-800-877-8339, Monday through Friday between the hours of 8 a.m. and 8 p.m., Eastern Standard Time. SUPPLEMENTARY INFORMATION: The Historically Black College and University Capital Financing Advisory Board (Board) is authorized by Title III, Part D, section 347 of the Higher Education Act of 1965, as amended in 1998 (20 U.S.C. 1066f). The Board is established within the Department of Education to provide advice and counsel to the Secretary and the designated bonding authority as to the most effective and efficient means of implementing construction financing on historically black college and university campuses and to advise Congress regarding the progress made in implementing the program. Specifically, the Board will provide advice as to the capital needs of Historically Black Colleges and Universities, how those needs can be met through the program, and what additional steps might be taken to improve the operation and implementation of the construction financing program. The purpose of this meeting is to review current program activities, provide guidance for 2008 activities, to make recommendations to the Secretary on the current capital needs of Historically Black Colleges and Universities, and to share additional steps in which the HBCU Capital Financing Program might improve its operation. Individuals who will need accommodations for a disability in order to attend the meeting (e.g., interpreting services, assistance listening devices, or materials in alternative format) should notify Don Watson at 202 219-7037, no later than November 15, 2007. We will attempt to meet requests for accommodations after this date but cannot guarantee their availability. The meeting site is accessible to individuals with disabilities. An opportunity for public comment is available on Friday, November 30, 2007 between 12:15 p.m.-12:45 p.m. Those members of the public interested in submitting written comments may do so by submitting them to the attention of Don E. Watson, 1990 K Street, NW., Washington DC, by Friday, November 23, 2007. Records are kept of all Board proceedings and are available for public inspection at the Office of The Historically Black College and University Capital Financing Advisory Board (Board), 1990 K Street, NW., Washington, DC 20006, from the hours of 9 a.m. to 5 p.m., Eastern Standard Time Monday through Friday (EST). *Electronic Access to This Document:* You may view this document, as well as all other documents of this Department published in the **Federal Register** , in text or Adobe Portable Document Format

(PDF)on the Internet at the following site: *http://www.ed.gov/news/federegister.* To use PDF you must have Adobe Acrobat Reader, which is available free at this site. If you have questions about using PDF, call the U.S. Government Printing Office (GPO), toll free at 1-888-293-6498; or in the Washington, DC, area at

(202)512-1530. Note: The official version of this document is the document published in the **Federal Register** . Free Internet access to the official edition of the **Federal Register** and the Code of Federal Regulations is available on GPO Access at: *http://www.gpoaccess.gov/nara/index.html.* Thomas C. Dawson III, Deputy Assistant Secretary for Higher Education Programs. [FR Doc. E7-21803 Filed 11-5-07; 8:45 am] BILLING CODE 4000-01-P DEPARTMENT OF EDUCATION Federal Family Education Loan Program AGENCY: Federal Student Aid, Department of Education. ACTION: Notice of interest rates for the Federal Family Education Loan Program for the period July 1, 2007 through June 30, 2008. SUMMARY: The Acting Chief Operating Officer for Federal Student Aid announces the interest rates for the period July 1, 2007 through June 30, 2008 for loans made under the Federal Family Education Loan

(FFEL)Program. FOR FURTHER INFORMATION CONTACT: Don Watson, U.S. Department of Education, Room 114I2, UCP, 400 Maryland Avenue, SW., Washington, DC 20202-5400. Telephone:

(202)219-7037. If you use a telecommunications device for the deaf (TDD), you may call the Federal Relay Service

(FRS)at 1-800-877-8339. Individuals with disabilities may obtain this document in an alternative format (e.g., Braille, large print, audiotape, or computer diskette) on request to the contact person listed under FOR FURTHER INFORMATION CONTACT . SUPPLEMENTARY INFORMATION: General Under title IV, part B of the Higher Education Act of 1965, as amended (HEA), 20 U.S.C. Section 1071, *et seq.* , most loans made to student and parent borrowers under the FFEL Program have variable interest rates. The formulas for determining the interest on variable-rate, FFEL Program loans are established in section 427A of the HEA (20 U.S.C. 1077a). The interest rates on variable-rate loans are determined annually and apply to the following 12-month period beginning July 1 and ending June 30. As described below, interest rate caps apply to most FFEL Program loans. FFEL interest rate formulas use the bond equivalent rate of 91-day Treasury bills auctioned at the final auction held before June 1 of each year plus a statutorily established add-on to determine the variable interest rate for— • FFEL fixed-rate Stafford loans first disbursed before October 1, 1992 that have been converted to variable-rate loans; • All FFEL Subsidized and Unsubsidized Stafford Loans first disbursed on or after October 1, 1992 and before July 1, 2006; • FFEL PLUS loans first disbursed on or after July 1, 1998 and before July 1, 2006; and • FFEL Consolidation Loans for which the Consolidation Loan application was received by the lender on or after November 13, 1997 and before October 1, 1998. The bond equivalent rate of the 91-day Treasury bills auctioned on May 29, 2007, which is used to calculate the interest rates for the one-year period beginning on July 1, 2007, is 4.919 percent, which is rounded to 4.92 percent. For FFEL PLUS loans first disbursed before July 1, 1998, interest rates are calculated based on the weekly average of a 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the last calendar week ending on or before June 26. The weekly average of the 1-year constant maturity Treasury yield for the last calendar week ending on or before June 26, 2007 is 4.95 percent. Interest Rates for “Converted” Variable-Rate FFEL Stafford Loans 1. Under section 427A(i)(7) of the HEA (20 U.S.C. 1077a(i)(7)), loans that were originally made with a fixed interest rate of eight percent with an increase to ten percent four years after commencement of the repayment period were converted to a variable interest rate that may not exceed ten percent. The interest rate for these loans for the period from July 1, 2007, through June 30, 2008, is 8.17 percent (4.92 percent plus 3.25 percent). 2. Loans with fixed interest rates of seven percent, eight percent, nine percent, or eight percent with an increase to ten percent four years after commencement of the repayment period were subject to the provisions of section 427A(i)(3) of the HEA (20 U.S.C. 1077a(i)(3)) and were converted to variable-rate loans with maximum interest rates of seven percent, eight percent, nine percent, or ten percent, respectively. For loans with fixed interest rates of seven percent that were converted to variable-rate loans, the interest rate for the period from July 1, 2007, through June 30, 2008, is the maximum interest rate of 7.00 percent. Note that because 4.92 percent plus 3.1 percent equals 8.02 percent, which exceeds the maximum interest rate allowed, we use the maximum interest rate. For loans with fixed interest rates of eight percent, nine percent, or eight percent with an increase to ten percent that were converted to variable-rate loans, the interest rate for the period from July 1, 2007, through June 30, 2008, is the maximum interest rate of 8.00 percent. Note that because 4.92 percent plus 3.1 percent equals 8.02 percent, which exceeds the maximum interest rate allowed, we use the maximum interest rate. Interest Rates for Variable-Rate FFEL Stafford Loans 1. For FFEL Stafford loans made to “new” borrowers for which the first disbursement was made

(a)on or after October 1, 1992, but before July 1, 1994, or

(b)on or after July 1, 1994, for a period of enrollment ending before July 1, 1994 (i.e., a late disbursement), with a maximum interest rate of nine percent. The interest rate for the period from July 1, 2007, through June 30, 2008, is 8.02 percent (4.92 percent plus 3.1 percent). 2. For FFEL Stafford loans made to all borrowers, regardless of prior borrowing, for periods of enrollment that include or begin on or after July 1, 1994, for which the first disbursement was made on or after July 1, 1994, but before July 1, 1995, the interest rate may not exceed 8.25 percent. The interest rate for the period from July 1, 2007, through June 30, 2008, is 8.02 percent (4.92 percent plus 3.1 percent). 3. For FFEL Stafford loans made to all borrowers, regardless of prior borrowing, on or after July 1, 1995, but before July 1, 1998, the interest rate may not exceed 8.25 percent.

(a)During the in-school, grace, or deferment period, the interest rate for the period from July 1, 2007, through June 30, 2008, is 7.42 percent (4.92 percent plus 2.5 percent); and

(b)During all other periods, the interest rate for the period from July 1, 2007, through June 30, 2008, is 8.02 percent (4.92 percent plus 3.1 percent). 4. For FFEL Stafford loans, first disbursed on or after July 1, 1998, but before July 1, 2006, the interest rate may not exceed 8.25 percent.

(a)During the in-school, grace, and deferment periods, the interest rate for the period from July 1, 2007, through June 30, 2008, is 6.62 percent (4.92 percent plus 1.7 percent); and

(b)During all other periods, the interest rate for the period from July 1, 2007, through June 30, 2008, is 7.22 percent (4.92 percent plus 2.3 percent). Interest Rates for Fixed-Rate FFEL Stafford Loans 1. For FFEL Stafford loans for which the first disbursement was made on or after July 1, 2006, the interest rate is fixed at 6.80 percent. Interest Rates for FFEL PLUS and FFEL Supplemental Loans for Students

(SLS)Loans 1. For Variable-rate FFEL PLUS and FFEL SLS loans first disbursed before October 1, 1992, the interest rate may not exceed 12 percent. The interest rate for the period from July 1, 2007, through June 30, 2008, is 8.20 percent (4.95 percent plus 3.25 percent). 2. For FFEL SLS loans first disbursed on or after October 1, 1992, for a period of enrollment beginning before July 1, 1994, the interest rate may not exceed 11 percent. The interest rate for the period from July 1, 2007, through June 30, 2008, is 8.05 percent (4.95 percent plus 3.10 percent). 3. For FFEL PLUS loans first disbursed on or after October 1, 1992, but before July 1, 1994, the interest rate may not exceed ten percent. The interest rate for the period from July 1, 2007, through June 30, 2008, is 8.05 percent (4.95 percent plus 3.10 percent). 4. For FFEL PLUS loans first disbursed on or after July 1, 1994, but prior to July 1, 1998, the interest rate may not exceed nine percent. The interest rate for the period from July 1, 2007, through June 30, 2008, is 8.05 percent (4.95 percent plus 3.10 percent). 5. For FFEL PLUS loans first disbursed on or after July 1, 1998, and before July 1, 2006, the interest rate may not exceed nine percent. The interest rate for the period from July 1, 2007, through June 30, 2008, is 8.02 percent (4.92 percent plus 3.1 percent). 6. FFEL PLUS loans first disbursed on or after July 1, 2006, have an interest rate that is fixed at 8.50 percent. Interest Rates for FFEL Consolidation Loans 1. For FFEL Consolidation loans for which the consolidation loan was made by the lender before July 1, 1994, the interest rate is the weighted average of the interest rates on the loans consolidated, rounded to the nearest whole percent, but may not be less than nine percent. 2. For FFEL Consolidation loans for which the consolidation loan was made by the lender on or after July 1, 1994, and before November 13, 1997, the interest rate is the weighted average of the interest rates on the loans consolidated, rounded upward to the nearest whole percent. 3. With respect to FFEL Consolidation loans for which the consolidation loan application was received by the lender on or after November 13, 1997, and before October 1, 1998, the interest rate may not exceed 8.25 percent. The interest rate for the period from July 1, 2007, through June 30, 2008, is 8.02 percent (4.92 percent plus 3.1 percent). 4. With respect to FFEL Consolidation loans for which the consolidation loan application was received by the lender on or after October 1, 1998, the interest rate may not exceed 8.25 percent. The interest rate is the weighted average of the interest rates on the loans consolidated, rounded to the nearest higher 1/8 of one percent. 5. With respect to consolidation loans, the interest rate equals the average of the bond equivalent rates of the 91-day Treasury bills auctioned for the quarter ending prior to July 1, plus three percent. For the quarter ending before July 1, 2007, the average 91-day Treasury bill rate was 4.895 percent (rounded to 4.90 percent). The maximum interest rate for the period from July 1, 2007, through June 30, 2008, is 7.90 percent (4.90 percent plus 3.0 percent). If a portion of a Consolidation loan is attributable to a loan made under subpart I of part A of title VII of the Public Health Service Act, the maximum interest rate for that portion of the Consolidation loan is determined annually, for each 12-month period beginning on July 1 and ending on June 30. *Electronic Access to This Document:* You may view this document, as well as all other documents of this Department published in the **Federal Register** , in text or Adobe Portable Document Format

(PDF)on the Internet at the following site: *http://www.ed.gov/news/federegister* . To use PDF you must have Adobe Acrobat Reader, which is available free at this site. If you have questions about using PDF, call the U.S. Government Printing Office (GPO), toll free at 1-888-293-6498; or in the Washington, DC area at

(202)512-1530. Note: The official version of this document is the document published in the **Federal Register** . Free Internet access to the official edition of the **Federal Register** and the Code of Federal Regulations is available on GPO Access at: *http://www.gpoaccess.gov/nara/index.html* . Program Authority: 20 U.S.C. 1077a *et seq.* Dated: October 31, 2007. Lawrence A. Warder, Acting Chief Operating Officer, Federal Student Aid. [FR Doc. E7-21806 Filed 11-5-07; 8:45 am] BILLING CODE 4000-01-P DEPARTMENT OF EDUCATION William D. Ford Federal Direct Loan Program AGENCY: Federal Student Aid, Department of Education. ACTION: Notice of interest rates for the William D. Ford Federal Direct Loan Program for the period July 1, 2007 through June 30, 2008. SUMMARY: The Acting Chief Operating Officer for Federal Student Aid announces the interest rates for the period July 1, 2007 through June 30, 2008 for loans made under the William D. Ford Federal Direct Loan (Direct Loan) Program. FOR FURTHER INFORMATION CONTACT: Don Watson, U.S. Department of Education, Room 114I2, UCP, 400 Maryland Avenue, SW., Washington, DC 20202-5400. Telephone:

(202)219-7037. If you use a telecommunications device for the deaf (TDD), you may call the Federal Relay Service

(FRS)at 1-800-877-8339. Individuals with disabilities may obtain this document in an alternative format (e.g., Braille, large print, audiotape, or computer diskette) on request to the contact person listed under FOR FURTHER INFORMATION CONTACT . SUPPLEMENTARY INFORMATION: Section 455(b) of the Higher Education Act of 1965, as amended (HEA), 20 U.S.C. 1087e(b), provides formulas for determining the interest rates charged to borrowers for loans made under the Direct Loan Program including: Federal Direct Stafford Loans (Direct Subsidized Loans); Federal Direct Unsubsidized Stafford Loans (Direct Unsubsidized Loans); Federal Direct PLUS Loans (Direct PLUS Loans); and Federal Direct Consolidation Loans (Direct Consolidation Loans). The Direct Loan Program includes loans with variable interest rates and loans with fixed interest rates. Most loans made under the Direct Loan Program have variable interest rates that change each year. The variable interest rate formula that applies to a particular loan depends on the date of the first disbursement of the loan. The variable rates are determined annually and are effective for each 12-month period beginning July 1 of one year and ending June 30 of the following year. Pursuant to section 455(b) of the HEA, 20 U.S.C. 1087e(b), the interest rate for Direct Subsidized Loans and Direct Unsubsidized Loans that are first disbursed on or after July 1, 2006, have a fixed interest rate of 6.80 percent. Direct PLUS Loans that are first disbursed on or after July 1, 2006, have a fixed interest rate of 7.90 percent. In the case of some Direct Consolidation Loans, the interest rate is determined by the date on which the Direct Consolidation Loan application was received. Direct Consolidation Loans for which the application was received on or after February 1, 1999 have a fixed interest rate based on the weighted average of the loans that are consolidated, rounded up to the nearest higher 1/8 of one percent. Pursuant to section 455(b) of the HEA, 20 U.S.C. 1087e(b), the Direct Loan interest rate formulas use the bond equivalent rates of the 91-day Treasury bills at the final auction held before June 1 of each year plus a statutory add-on percentage to determine the variable interest rate for all Direct Subsidized Loans and Direct Unsubsidized Loans; Direct Consolidation Loans for which the application was received on or after July 1, 1998 and before February 1, 1999; and Direct PLUS Loans disbursed on or after July 1, 1998. The bond equivalent rate of the 91-day Treasury bills auctioned on May 29, 2007, which is used to calculate the interest rates on these loans, is 4.919 percent, which is rounded to 4.92 percent. In addition, pursuant to section 455(b) of the HEA, 20 U.S.C. 1087e(b), as amended by Public Law 106-554, the Consolidated Appropriations Act, 2001, the interest rate for Direct PLUS Loans that were disbursed on or after July 1, 1994 and on or before July 1, 1998, is calculated based on the weekly average of a 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the last calendar week ending on or before June 26 plus a statutory add-on percentage. The weekly average of 1-year constant maturity Treasury yield for the last week ending on or before June 26, 2007 is 4.95 percent. Below is specific information on the calculation of the interest rates for the Direct Loan Program. This information is listed in order by the date a loan was first disbursed or by the date that the Consolidation Application was received. For Direct Loan Program Loans First Disbursed On or After July 1, 1994, and Before July 1, 1995 The interest rate for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Subsidized and Unsubsidized Consolidation Loans is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 3.1 percent. These interest rates may not exceed 8.25 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Subsidized and Unsubsidized Consolidation Loans that were first disbursed on or after July 1, 1994, and before July 1, 1995, is 8.02 percent (4.92 percent plus 3.1 percent) during all periods. The interest rate for Direct PLUS Loans and Direct PLUS Consolidation Loans is the weekly average of a 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the last calendar week ending on or before June 26 plus 3.1 percent. These interest rates may not exceed 9.0 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct PLUS Loans and Direct PLUS Consolidation Loans that were first disbursed on or after July 1, 1994 and before July 1, 1995, is 8.05 (4.95 percent plus 3.1 percent) percent for all periods. For Direct Loan Program Loans First Disbursed On or After July 1, 1995, and Before July 1, 1998 The interest rate for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Subsidized and Unsubsidized Consolidation Loans is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 3.1 percent. However, during in-school, grace, and deferment periods, the interest rate formula is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 2.5 percent. These interest rates may not exceed 8.25 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Subsidized and Unsubsidized Consolidation Loans that were first disbursed on or after July 1, 1995, and before July 1, 1998, is 7.42 percent (4.92 percent plus 2.5 percent) during in-school, grace, and deferment periods and 8.02 percent (4.92 percent plus 3.1 percent) during all other periods. The interest rate for Direct PLUS Loans and Direct PLUS Consolidation Loans is the weekly average of a 1-year constant maturity Treasury yield, as published by the Board of Governors of the Federal Reserve System, for the last calendar week ending on or before June 26 plus 3.1 percent. These interest rates may not exceed 9.0 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct PLUS Loans and Direct PLUS Consolidation Loans that were first disbursed on or after July 1, 1995 and before July 1, 1998, is 8.05 percent (4.95 percent plus 3.1 percent) during all periods. For Direct Loans First Disbursed On or After July 1, 1998, and Before October 1, 1998 The interest rate for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Subsidized and Unsubsidized Consolidation Loans is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 2.3 percent. However, during in-school, grace, and deferment periods, the interest rate formula is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 1.7 percent. These interest rates may not exceed 8.25 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct Subsidized and Unsubsidized Consolidation Loans that were first disbursed on or after July 1, 1998 and before October 1, 1998, is 6.62 percent (4.92 percent plus 1.7 percent) during in-school, grace, and deferment periods and 7.22 percent (4.92 percent plus 2.3 percent) during all other periods. The interest rate for Direct PLUS Loans and Direct PLUS Consolidation Loans is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 3.1 percent. These interest rates may not exceed 9.0 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct PLUS Loans and Direct PLUS Consolidation Loans that were disbursed on or after July 1, 1998, and before October 1, 1998, is 8.02 percent (4.92 percent plus 3.1 percent) during all periods. For Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First Disbursed On or After October 1, 1998, and Before July 1, 2006 The interest rate for Direct Subsidized Loans and Direct Unsubsidized Loans is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 2.3 percent. However, during in-school, grace, and deferment periods, the interest rate formula is the bond equivalent rate of the 91-day Treasury bills plus 1.7 percent. These interest rates may not exceed 8.25 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct Subsidized Loans and Direct Unsubsidized Loans that were disbursed after July 1, 1998, and before July 1, 2006, is 6.62 percent (4.92 percent plus 1.7 percent) during in-school, grace, and deferment periods and 7.22 percent (4.92 percent plus 2.3 percent) during all other periods. The interest rate for Direct PLUS Loans is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 3.1 percent. These interest rates may not exceed 9.0 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct PLUS Loans that were disbursed after July 1, 1998, and before July 1, 2006, is 8.02 percent (4.92 percent plus 3.1 percent) during all periods. For Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans First Disbursed On or After July 1, 2006 The interest rate for Direct Subsidized Loans and Direct Unsubsidized Loans that were first disbursed on or after July 1, 2006 is a fixed interest rate of 6.80 percent during all periods. The interest rate for Direct PLUS Loans that were first disbursed on or after July 1, 2006 is a fixed interest rate of 7.90 percent during all periods. For Direct Consolidation Loans First Disbursed On or After October 1, 1998 and For Which the Application Was Received Before October 1, 1998 The interest rate for Direct Subsidized and Unsubsidized Consolidation Loans is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 2.3 percent. However, during in-school, grace, and deferment periods, the interest rate formula is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 1.7 percent. These interest rates may not exceed 8.25 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct Subsidized and Unsubsidized Consolidation Loans that were first disbursed on or after October 1, 1998 and for which the application was received before October 1, 1998, is 6.62 percent (4.92 percent plus 1.7 percent) during in-school, grace, and deferment periods and 7.22 percent (4.92 percent plus 2.3 percent) during all other periods. The interest rate for Direct PLUS Consolidation Loans is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 3.1 percent. These interest rates may not exceed 9.0 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct PLUS Loans and Direct PLUS Consolidation Loans that were first disbursed on or after October 1, 1998 and for which the application was received before October 1, 1998, is 8.02 percent (4.92 percent plus 3.1 percent) during all periods. For Direct Consolidation Loans For Which the Application Was Received On or After October 1, 1998, and Before February 1, 1999 The interest rate for Direct Consolidation Loans for which the application was received on or after October 1, 1998 and before February 1, 1999 is the bond equivalent rate of the 91-day Treasury bills auctioned at the final auction held before June 1 plus 2.3 percent. These interest rates may not exceed 8.25 percent during any period. From July 1, 2007, to June 30, 2008, the interest rate for Direct Consolidation Loans for which the application was received on or after October 1, 1998 and before February 1, 1999, is 7.22 percent (4.92 percent plus 2.3 percent) during all periods. For Direct Consolidation Loans For Which the Application Was Received On or After February 1, 1999 The interest rate for Direct Consolidation Loans for which the application was received on or after February 1, 1999, is the lesser of 8.25 percent, or the weighted average of the loans consolidated, rounded to the nearest higher 1/8 of one percent. *Electronic Access to This Document:* You may view this document, as well as all other documents of this Department published in the **Federal Register** , in text or Adobe Portable Document Format

(PDF)on the Internet at the following site: *http://www.ed.gov/news/federegister* . To use PDF you must have Adobe Acrobat Reader, which is available free at this site. If you have questions about using PDF, call the U.S. Government Printing Office (GPO), toll free at 1-888-293-6498; or in the Washington, DC area at

(202)512-1530. Note: The official version of this document is the document published in the **Federal Register** . Free Internet access to the official edition of the **Federal Register** and the Code of Federal Regulations is available on GPO Access at: *http://www.gpoaccess.gov/nara/index.html* . Program Authority: 20 U.S.C. 1087 *et seq.* . Dated: October 31, 2007. Lawrence A. Warder, Acting Chief Operating Officer, Federal Student Aid. [FR Doc. E7-21807 Filed 11-5-07; 8:45 am] BILLING CODE 4000-01-P ELECTION ASSISTANCE COMMISSION Proposed Guidance on Voluntary Voting System Guidelines AGENCY: United States Election Assistance Commission. ACTION: Notice of TGDC draft recommendations of Voluntary Voting System Guidelines and request for comments. SUMMARY: The Help America Vote Act of 2002

(HAVA)(Pub. L. 107-252, October 29, 2002) established the U.S. Election Assistance Commission (EAC). Section 202 of HAVA directs the EAC to adopt voluntary voting system guidelines

(VVSG)and to provide for the testing, certification, decertification, and recertification of voting system hardware and software. The VVSG provides specifications and standards against which voting systems can be tested to determine if they provide basic functionality, accessibility, and security capabilities. Section 221 of HAVA mandates the creation of the Technical Guidelines Development Committee

(TGDC)to assist the EAC in developing its voluntary voting system guidance. The TGDC has recommended standards to the EAC. These recommended standards were submitted by the TGDC to the EAC's Executive Director pursuant to section 221 of HAVA. As part of its development process the EAC is seeking public comment on the TGDC's recommended standards. The EAC encourages the public to offer specific and detailed comments on all aspects and sections of the requirements. The EAC is particularly interested in receiving comments on three distinct issues:

(1)The concept of Software Independence and the corresponding requirements for Independent Voter Verifiable Records and the Innovation class;

(2)Open Ended Vulnerability Testing; and

(3)the usability and accessibility benchmarks developed for this iteration of the VVSG. All three of these concepts are new to the VVSG and could have a substantial impact on the cost of implementation and on the security and accessibility of voting systems. DATES: Comments must be received on or before 4 p.m. on March 5, 2008. *Submission of Comments:* The EAC provides two means of submission of comments:

(1)On-line electronic comment form at *http://www.eac.gov,* and

(2)by mail to Voluntary Voting System Guidelines Comments, U.S. Election Assistance Commission, 1225 New York Ave., NW., Suite 1100, Washington, DC 20005. Commenters are encouraged to submit comments electronically to ensure timely receipt and consideration. In order to allow efficient and effective review of comments the EAC requests that:

(1)Comments should refer to the specific section that is the subject of the comment.

(2)Comments regarding a term that is included or that should be added to the “Appendix A: Definitions of Words with Special Meanings” should reference the term, part, and section number to which the comment refers.

(3)General comments regarding the entire document or comments that refer to more than one section should be made as specifically as possible so that EAC can clearly understand to which portion(s) of the documents the comment refers.

(4)To the extent that a comment suggests a change in the wording of a requirement or section of the guidelines, please provide proposed language for the suggested change. *To Obtain a copy of the TGDC Draft Recommendations of the Voluntary Voting System Guidelines:* Due to the fact that the Voluntary Voting System Guidelines are more than 550 pages in length, the entire draft document has not been attached to this notice. A complete copy of the TGDC draft recommendations of the Voluntary Voting System Guidelines is available from the EAC in electronic format. An electronic copy can be downloaded in PDF format or read in HTML version on EAC's Web site, *http;://www.eac.gov.* In order to obtain a paper copy of the TGDC draft recommendations please mail a written request to Voluntary Voting System Guidelines Comments, U.S. Election Assistance Commission, 1225 New York Ave., NW., Suite 1100, Washington, DC 20005. FOR FURTHER INFORMATION CONTACT: Matthew Masterson, Phone

(202)566-3100, e-mail *votingsystemstandards@eac.gov.* SUPPLEMENTARY INFORMATION: Prior to the passage of HAVA, the Federal Election Commission

(FEC)published the 2002 Voting System Standards (VSS). HAVA mandated that the EAC update the VSS. In December of 2005 the EAC adopted the 2005 VVSG. The 2005 VVSG used many of the same requirements as the 2002 VSS but it expanded the security, accessibility, and usability sections. On March 29, 2006, the TGDC held its first meeting to discuss the next iteration of the VVSG. Since that time, the TGDC has held numerous public meetings and subcommittee conference calls to create a set of draft guidelines for recommendation to the EAC (all TGDC meeting materials can be found at *http://www.vote.nist.gov* ). On August 17, 2007, the TGDC voted to complete final edits of their recommendations and submit them to the Executive Director of the EAC. The EAC received the draft guidelines from the TGDC on August 31, 2007. The recommended guidelines currently consist of an Introduction and three distinct Parts. The Introduction is an overview of the requirements and explanations of new or expanded materials. Part 1 contains the equipment requirements including upgraded requirements for security and new usability benchmarks for voting machines. Part 2 details the documentation requirements for both the manufacturers and the Voting System Test Laboratories (VSTL). Part 2 also includes a section on the submission of the Technical Data Package and requirements for full system user documentation. Part 3 contains the testing requirements for voting machines. This includes new material on open ended vulnerability testing and new benchmarks for performance testing. In addition to the introduction and the three parts, the guidelines contain

(1)an appendix for “definitions of words with special meaning” specific to the requirements and

(2)an appendix detailing all references and end notes. Now that the TGDC has submitted its draft recommendations to the EAC for publication in the **Federal Register** , the EAC will begin its review and development process. This is a four phase plan: *Phase I* —EAC will submit the TGDC's draft document to the **Federal Register** and provide a public comment feature on www.eac.gov. The public comment period will last for 120 days and all comments will be made available for public review. This public comment period is not required by law; however, the EAC thought it was extremely important to receive public input before proceeding with the process. During this public comment period the EAC will conduct public hearings regarding the TGDC's draft recommendations. The TGDC draft is currently available at *http://www.eac.gov.* *Phase II* —EAC will collect and review all public comments submitted on the TGDC draft. After consideration of all public comments, the EAC will then perform an internal review. *Phase III* —Based upon public comment and internal review of the TGDC document, the EAC will develop and publish its draft version in the **Federal Register** . The public will have another 120 days to comment on the EAC draft version. EAC will conduct public hearings to discuss its draft version. *Phase IV* —EAC will collect and review all comments submitted and make final modifications. The final version of the VVSG will be adopted by vote of the Commission at a public meeting and then published in the **Federal Register** . Thomas R. Wilkey, Executive Director, U.S. Election Assistance Commission. [FR Doc. 07-5526 Filed 11-5-07; 8:45 am]

Notices. Notice of an open meeting