Posted Date: October 17, 2014

Author:  Pamela Eliadis, Service Director, System Operations & Aid Delivery Management, Federal Student Aid

Subject: HEAL Program Information - Maximum HEAL Program Interest Rates for Quarter Ending December 31, 2014

As explained in a July 2, 2014 Electronic Announcement posted on the Information for Financial Aid Professionals (IFAP) Web site, the Health Education Assistance Loan (HEAL) Program was transferred from the U.S. Department of Health and Human Services to the U.S. Department of Education (the Department) on July 1, 2014, as required by the Consolidated Appropriations Act, 2014 (Pub. L. 113-76). The Department is now responsible for managing the servicing of non-defaulted HEAL Program Loans and the collection of defaulted HEAL Program loans.

In a July 18, 2014 announcement, we informed HEAL Program lenders and lender servicers that we will update the HEAL Interest Rates page at the beginning of each quarter and post a corresponding Electronic Announcement to the IFAP Web site to inform the community of the availability of the new interest rates.

The maximum HEAL Program interest rates for the quarter ending December 31, 2014 are now available in the “Current Maximum Interest Rates” section of the HEAL Interest Rates page of the HEAL Program Area on the IFAP Web site. We have also made conforming updates to the “Maximum Interest Rates for Previous Three Quarters” section of the same page.

Contact Information

If you are a HEAL Program lender or lender servicer and have questions about the maximum HEAL Program interest rates, contact the HEAL Program Team at 844/509-8957 or HEAL@ed.gov.

Complete contact information for the HEAL Program is available on two IFAP Contact Information pages.

Thank you for directing HEAL Program inquiries as outlined on the Contact Information pages.

   

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