Form ED Form 799 ED Form 799 LARS 799 Form

U.S. DEPARTMENT OF EDUCATION
Federal Family Education Loan Program

OMB NO: 1845-0013
Expiration Date: Under Review
Previous Versions Obsolete

Read instructions
for each part
1
LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT – (LaRS/799) PAGE
before completing this form.
IDENTIFICATION AND CERTIFICATION
CERTIFICATION
1.

Lender Identification Number (LID), Lender Name:

As an eligible Lender, Servicer, or Eligible Lender Trustee in the Federal Family
Education Loan Program (FFELP) that submits the Lender Reporting System report
(LaRS), I certify, by my signature below that:

2.

Servicer Identification Number, Servicer Name (if applicable):

3.

Year and Quarter Ending (Complete both fields):

YEAR

1[

] March 31

2[

] June 30

3[

] September 30

4 [

] December 31

The data that my organization submits to the U.S. Department of Education is
correct to the best of my knowledge and belief. I certify that this submission seeks
payment of only those amounts that are proper and authorized under the laws,
regulations, and policies applicable to the Federal Family Education Loan Program.
I understand that all documents, files, accounts and records supporting this data
are subject to audit or review by the Secretary of Education or other authorized
representatives of the United States Government, and I agree to make all such
documents, files, accounts and records available to the Secretary or such
authorized representatives without restriction.

4. Signature

5. Date

Mail completed form to:
U.S. Department of Education
6. Typed Name and Title
830 First., NE, 5th Floor – Lender Reporting
Washington, D.C. 20202-5230
Fax 202-275-3472
WARNING: Any person who knowingly and willfully submits a false statement to obtain payment may be prosecuted under Federal law, and if convicted, is subject to
imprisonment for up to five years or a fine of up to $20,000, or both. 18 U.S.C. 1001, 20 U.S.C 1097. In addition, any person who knowingly makes a false claim or causes a
false claim to be presented, or knowingly makes a false statement to obtain payment of a claim, may be subject to civil penalty and damages under the False Claims Act.
REPORTING BURDEN: According to the Paperwork Reduction Act of 1995, no persons are required to respond to a collection of information unless such collection displays a valid OMB control
number. The valid OMB control number for this information collection is 1845-0013. Public reporting burden for this collection of information is estimated to average 3.75 hours per response,
including time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. The obligation to
respond to this collection is required to obtain or retain benefit (Title IV, Part B of the Higher Education Act, as amended). If you have comments or concerns regarding the status of your individual
submission of this form, plese contact Finance, 830 First Street NE, 5th Floor, Washington, DC 20202 directly.

LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT (LaRS/799)
LID:

OMB NO: 1845-0013
Expiration Date: 02-28-2017
Previous Versions Obsolete

PAGE

PART I – Loan Origination and Lender Loan Fees
Loan
Type
(A)

Check here if submitting additional pages for Part I

Fee
Code
(B)

Fee
Percent
(C)

Loan
Interest Rate
(D)

Principal
Amount of Loans
(E)

LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT (LaRS/799)
LID:

OMB NO: 1845-0013
Expiration Date: 02-28-2017
Previous Versions Obsolete

PAGE

PART II – Interest Benefits
Loan
Type
(A)

Interest
Rate
(B)

Billing
Code
(C)

Check here if submitting additional pages for Part II

Ending
Principal Balance
(D)

Average Daily
Principal Balance
(E)

Interest
Amount
(Use only for Adjustments)
(F)

LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT (LaRS/799)
LID:

OMB NO: 1845-0013
Expiration Date: 02-28-2017
Previous Versions Obsolete

PAGE

PART III – Special Allowance
Billing
Code

(A)

Calendar
Year
(B)

Quarter
Code
(C)

Loan
Type
(D)

Special
Allowance
Category
(E)
(D)

Check here if submitting additional pages for Part III

Interest
Rate
(F)

Ending
Principal Balance
(G)

Average Daily
Principal Balance
(H)

Adjustments for
Difference in Average
Daily Principal Balance
(I)

LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT (LaRS/799)
LID:

OMB NO: 1845-0013
Expiration Date: 02-28-2017
Previous Versions Obsolete

PAGE

PART IV: Loan Activity
FEDERAL STAFFORD & FISL
(Except Unsubsidized)
(A)

1.

Beginning Principal Balance

2.

Loan Principal Disbursed

3.

Interest Capitalized or
Other Principal Increases

4.

Principal of Loans Purchased

5.

Principal of Loans Cured

6.

Principal of Loans Sold

7.

Principal Paid by Insurance Claims

8.

Principal of Loans on Which
the Guarantee Was Voided

9.

Principal Paid by Borrowers
and Other Principal Reductions

FEDERAL
PLUS
(B)

FEDERAL
SLS
(C)

FEDERAL
CONSOLIDATION
(D)

FEDERAL UNSUBSIDIZED
STAFFORD
(E)

LENDER’S INTEREST AND SPECIAL ALLOWANCE REQUEST AND REPORT (LaRS/799)
LID:

OMB NO: 1845-0013
Expiration Date: 02-28-2017
Previous Versions Obsolete

PAGE

PART V – Loan Portfolio Status
FEDERAL STAFFORD & FISL
(Except Unsubsidized)
(A)

1.

Loans in School and in Grace

2.

Loans in Authorized Deferment

3.

Loans in Repayment or Forbearance:
a. Current or less than
31 days past due

b. 31-60 days past due

c. 61-90 days past due

d. 91-120 days past due

e. 121-180 days past due

f.

181-270 days past due

g. 271 days or more past due

h. Claims filed, but not yet paid,
and not listed above

4.

Ending Principal Balance

FEDERAL
PLUS
(B)

FEDERAL
SLS
(C)

FEDERAL
CONSOLIDATION
(D)

FEDERAL UNSUBSIDIZED
STAFFORD
(E)

Instructions

What is the Lender’s Interest & Special Allowance Request and Report (LaRS)?
The LaRS form is used by the U.S. Department of Education (ED) to calculate interest subsidies
and special allowance payments due to the lending institution, to calculate origination fees and
lender loan fees owed to ED, and to obtain information on your portfolio under the Federal
Family Education Loan Program.
Who should complete this form?
Any lender holding a FFEL loans must submit an invoice within 90 days of the end of the quarter.
What help is available?
Help can be obtained by contacting Federal Student Aid (FSA) at [email protected].
The Entire form must be completed.
Failure to complete all sections of the LaRS form will result in the rejection of the entire form.
Are there any other helpful hints?
1. It is important to put your LID on the top of each page.
2. Number the pages sequentially using the space provided.
3. If additional space is needed for Parts I, II, or III, make additional copies, and check the
block at the bottom of each page to indicate that additional pages are being submitted.
4. Unless otherwise stated, calculate each monetary amount to the nearest cent, round to the
nearest dollar, and enter the amount on the form.
5. Sign and date the form, and send it to the address shown on the first page.

1

Instructions
General Instructions

1

Lender ID, Lender Name

The Lender Identification Number (LID) is a 6-digit code assigned
by ED to identify each participant in the FFEL program. Provide
the full, legal name of your institution.

2

Servicer ID, Servicer Name

The Servicer Identification Number is a 6-digit code assigned by ED
to identify each participant in the FFEL program. Provide the full,
legal name of the servicing institution (if applicable).

3

Year and Quarter Ending

Provide the calendar year and associated quarter ending date
covered by this form.

4

Signature

Read the certification statement and sign the form in ink. Forms
signed with signature stamps and unsigned forms will be rejected
and returned to you.

5

Date

Enter the date the LaRS form is signed.

6

Typed Name and Title

Type or Print the name and title of the official signing the form.

2

Instructions
Part I – Loan Origination and Lender Loan Fees
This section is divided into 5 columns. Enter separate line entries for each unique combination of Loan
Type, Fee Code, Fee Percent, and Loan Interest Rate. For each line, if any column is completed, all
columns for that line must be completed. If you do not have anything to report, please indicate this by
inserting zeros in the first line. If applicable, report adjustments to previous quarters. If additional
space is needed, make a copy of the blank page and check the block at the bottom of each page.
Applicability: Most FFEL Program loans are subject to a loan origination fee, which is a percentage of the
loan principal and is deducted proportionately from each loan disbursement. The fee depends on the
period of enrollment covered by the loan. The Health Care and Education Reconciliation Act of 2010
(HCERA), Public Law 111-152, made significant changes to the federal student loan programs, including
ending new loans under the Federal Family Education Loan Program. Beginning July 1, 2010, all new
subsidized and unsubsidized Stafford Loans, PLUS loans made to parents and graduate/professional
students, and consolidation loans can only be made under the William D. Ford Federal Direct Loan (Direct
Loan) Program.
A

Loan Type

Provide the 2-letter code of the loan type being reported:
Loan Type
SF
SL
PL
CL
SU

B

Fee Code

Description
Federal Subsidized (except Unsubsidized & FISL
Federal SLS
Federal PLUS
Federal Consolidation
Federal Unsubsidized

Provide the code for the period and type of loan activity being
reported:
Origination fee adjustments to previously reported quarters:
FI - Net increase in loans you made or bought as reported for a
previous quarter, if you owe the origination fees
FD - Net decrease in loans you made or bought as reported for a
previous quarter, if the fees are to be credited to you
Lender fee adjustment to previously reported quarters:
LI - Net increase in loans you made or bought as reported for a
previous quarter, if you owe the Lender fees
LD - Net decrease in loans you made or bought as reported for a
previous quarter, if the fees are to be credited to you
Separate entries must be made for origination fees and for Lender
fees. For lines containing the codes FI and LI, ED will charge you the
fee. For lines containing the codes FD and LD, you will receive credit
toward fees due.
Include all loans, which can be classified under the same loan type, the
same adjustment fee code, the same fee percent, and the same loan
interest rate in one line item. When using an adjustment code, report

3

Instructions
the sum of all activity for loans made in all prior quarters. Do not
make separate entries for each separate prior quarter.
C

Fee Percent

Provide the percentage (as a decimal) of the loan used to determine
the fee:


Loans first disbursed on or after 7/1/2009 but prior to 7/1/2010
for periods of enrollment that either include that date or begin
after that date:
- Federal Stafford and Unsubsidized Stafford fees are 0.005



Loans first disbursed on or after 7/1/2008 but prior to 7/1/2009
for periods of enrollment that either include that date or begin
after that date:
- Federal Stafford and Unsubsidized Stafford fees are 0.01



Loans first disbursed on or after 7/1/2007 but prior to 7/1/2008
for periods of enrollment that either include that date or begin
after that date:
- Federal Stafford and Unsubsidized Stafford fees are 0.015



Loans first disbursed on or after 7/1/2006 but prior to 7/1/2007
for periods of enrollment that either include that date or begin
after that date:
- Federal Stafford and Unsubsidized Stafford fees are 0.02



Loans first disbursed on or after 7/1/2006 but prior to 7/1/2010
for periods of enrollment that either include that date or begin
after that date:
- Federal PLUS fees are 0.03



Loans first disbursed on or after 7/1/1994 but prior to 7/1/2006
for periods of enrollment that either include that date or begin
after that date:
- Federal Stafford, PLUS and Unsubsidized Stafford fees are
0.03



Loans first disbursed on or after 7/1/1994 for period of enrollment
that begin before that date and include that date:
- Federal SLS loans certified before 7/1/1994 is 0.03



Period of enrollment beginning before 7/1/1994 and disbursed
prior to that date:
- Federal Stafford, Federal SLS and Federal PLUS fee is 0.05
- Unsubsidized Stafford combined origination fee/insurance
premium is 0.065

4

Instructions


FFEL loans first disbursed on or after 10/1/2007 but prior to
7/01/2010 are subject to a Lender loan fee, which is 1% or 0.01 of
the loan principal and is charged proportionately against each loan
disbursement.



FFEL Program loans first disbursed on or after 10/1/1993 but prior
to 10/1/2007 are subject to a Lender loan fee, which is ½% or .005
of the loan principal and is charged proportionately against each
loan disbursement.

D

Loan Interest Rate

Provide the applicable interest rate (as a decimal) of each group of
loans.
 Use “.056” for Federal Stafford Subsidized loans first disbursed on
or after 7/1/2009 but prior to 7/1/2010 to eligible undergraduate
students;
 Use “.06” for Federal Stafford Subsidized loans first disbursed on
or after 7/1/2008 but prior to 7/1/2009 to eligible undergraduate
students;
 Use “.068” for Federal Stafford and Unsubsidized Stafford loans
disbursed on or after 7/1/2006 but prior to 7/1/2010;
 Use “.085” for Federal PLUS loans disbursed on or after 7/1/2006
– but prior to 7/1/2010;
 Use "EVAR" for Federal Stafford, Federal PLUS and Unsubsidized
Stafford variable rate loans made to new borrowers on/after
10/1/92 but prior to 7/1/2006;
 Use the actual rate of the loan for Consolidation loans made
on/after 10/1/98; and
 Use FVAR7, FVAR8, FVAR9, FVAR10, and FVARX respectively for
converted fixed rate loans of 0.07, 0.08, 0.09, or 0.08/0.1 percent.

E

Principal Amount of Loans

The principal amount of the loan is the amount disbursed plus the
amount of the insurance premium and origination fee deducted prior
to disbursement. (The Lender loan fee is based on the same amount
and is a charge to you. It cannot be charged to the borrower; that is,
it cannot be deducted from the loan principal disbursed.)
Enter the total principal amount of loans (whole dollars only) made or
bought which are covered by the transaction indicated by the Loan
Type and Fee Code. Do not include amounts representing
cancellations or adjustments occurring in the same quarter that the
loan was disbursed.
For a Fee Code of FI and LI, report the additional amount which was
not previously reported to ED. For a Fee Code of FD and LD, report the
amount, which was previously reported but has now been cancelled or
overstated in previous quarters.

5

Instructions
Part II – Interest Benefits
This part is divided into 6 columns. When billing for interest for the quarter covered by the form, (Billing
Code BC), make separate line entries for each different loan type and allowable interest rate. Columns
A-E must be completed. Column F, Interest Amount, is for reporting adjustments only.
When billing for all other codes (BI and BD), make separate line entries for each type of adjustment.
Complete columns A, C, and F. Leave the other columns blank. If additional space is needed, make a
copy of the blank page and check the block at the bottom of each page.
Applicability: In general, ED will pay the interest due on:
 Subsidized Federal Stafford and FISL loans while the borrower is in school at least half time, in
grace, and during a period of authorized deferment;
 Federal Consolidation loans for which the Lender received the application on/after 1/1/93 and
prior to 8/10/93 during periods of authorized deferment;
 Federal Consolidation loans comprised solely of subsidized Federal Stafford Loans for which the
Lender received the application on/after 8/10/93 and prior to 11/13/97, during periods of
authorized deferment;
 Federal Consolidation loans whose application was received after 11/13/97, interest benefits
are paid on the portion of the loan that repaid subsidized Federal Stafford, subsidized Federal
Direct Stafford, FISL, subsidized Federal Consolidation, and subsidized Federal Direct
Consolidation loans, during periods of authorized deferment; and
 Income Based Repayment - On both subsidized Stafford loans and the subsidized portion of
Consolidation loans. On the subsidized loans, if the portion of the scheduled monthly PFH
payment amount attributable to those loans is less than the monthly accrued interest on those
loans, the Department will pay the difference, for up to three years.
A

Loan Type

Provide the 2-letter code for the loan type being reported.
SF - Federal Stafford (except Unsubsidized Stafford) and FISL
CL - Federal Consolidation

B

Interest Rate

Provide the interest rate (as a decimal) for loans or portions of loans
on which you are billing interest for the quarter covered by this form,
as explained above. For loans made at rates other than those shown,
make separate line entries for each actual rate used (up to 5 decimal
places, then round). For lines showing an adjustment (Billing Code BI
or BD), leave this column blank.
- For 6.8% enter 0.068
- For 8.25% enter 0.0825

C

Billing Code

Provide the code for the period and type of loan activity being
reported:
BC - Interest due to you for the current quarter
BI - Adjustment, resulting in a net increase in the interest due to you
from previous quarters' billings
BD - Adjustment, resulting in net decrease in the interest due to you
from previous quarters' billings

6

Instructions
For lines containing the codes BC or BI, you will receive an interest
payment from ED. For lines containing the code BD, you will be
charged for the amount owed to ED.
If an interest transaction occurred in the current quarter and an
adjustment was made to it in the same quarter, report only the net
result. Do not report the original action and the adjustment
separately.
Use codes BI and BD to report adjustments to interest activity for all
prior quarters combined, regardless of the loans' individual interest
rates.
For loans eligible for interest under Income Based Repayment –
provide the code for the period and type of loan activity being
reported:
IC - Interest due to you for the current quarter
II - Adjustment, resulting in a net increase in the interest due to you
from previous quarters' billings
ID - Adjustment, resulting in net decrease in the interest due to you
from previous quarters' billings
D

Ending Principal Balance

Enter the total unpaid principal balance outstanding on all loans or
portions of loans eligible for interest benefits (whole dollars only) for
the stated Loan Type, Interest Rate and Billing Code combination, as
of the last day of the quarter covered by this form. Complete this
column only for lines with Billing Code BC.

E

Average Daily Principal
Balance

For each combination of Loan Type, Interest Rate and Billing Code,
enter the average (whole dollars only) of the daily principal balances
of all eligible loans or portions of loans for the quarter covered by this
form. This is accomplished by adding the outstanding principal
balance of all eligible loans or portions of loans for each day in the
quarter and dividing by the number of days in the quarter. This
column must be completed for any line with Billing Code BC.

F

Interest Amount
(Use only for adjustments)

For each combination of Loan Type, Interest Rate and Billing Code
enter to the nearest penny the amount of interest due you or owed to
ED. For IBR activity, enter the amount of unpaid accrued interest.
Do not use Column F for interest due for the current quarter (Billing
Code is BC). This column is required for adjustments (Billing Code is BI
or BD). Enter a positive number only. We will use the Billing Code to
determine whether you are due interest or owe money to ED.

7

Instructions
Part III – Special Allowance
This part is divided into 9 columns. Make separate line entries for each different combination of Billing
Code, Calendar Year, Quarter Code, Loan Type, Special Allowance Category, and Interest Rate. These
first 6 columns must always be completed. If additional space is needed, make a copy of the blank page
and check the block at the bottom of each page.
Applicability: In general, special allowance may be paid on all loans, except certain Federal Stafford and
FISL loans and any “HEAL” portion of a Consolidation loan. For loans disbursed on/after 4/1/06, if the
applicable interest rate exceeds the market rate, the lender may owe funds back the government.
For IBR eligible loans – special allowance will be paid on the average daily balance of unpaid accrued
interest. This is in addition to what is being paid on the average daily principal balance.
A

Billing Code

Provide the code for the period and type of loan activity being reported:
BC - Special allowance due/owed for the current quarter
BI - Adjustment resulting in a net increase in the special allowance previously
paid/collected for a given quarter
BD - Adjustment resulting in a net decrease in the special allowance previously
paid/collected for a given quarter
For lines containing the codes BC and BI, YOU may receive a payment from ED. For
a line containing the code BD, YOU may be charged for the amount owed to ED. If a
transaction occurred in the current quarter and an adjustment was made in the
same quarter, only report the net result.
For loans eligible for interest under Income Based Repayment (IBR) – provide the
code for the period and type of loan activity being reported:
IC - Interest due to you for the current quarter
II - Adjustment, resulting in a net increase in the interest due to you from previous
quarters' billings
ID - Adjustment, resulting in net decrease in the interest due to you from previous
quarters' billings

B

Calendar Year

Provide the year being reported (e.g. 2014)

C

Quarter Code

Provide the digit for the quarter being reported:
1- March 31 3 – September 30
2 - June 30
4 – December 31

D

Loan Type

Provide the 2-letter code for the loans being reported:
Loan Type
SF
SL
PL
CL
SU

Description
Federal Subsidized (except Unsubsidized & FISL
Federal SLS
Federal PLUS
Federal Consolidation
Federal Unsubsidized

8

Instructions
E

Special
Allowance
Category

Provide the code for the loans being reported (‘S’ is calculated using the 91-day
Treasury Bills, ‘C’ uses Commercial Paper and ‘L’ uses LIBOR):
SA -

For loans made prior to 10/1/81
(Tax-exempt loans during this period use XA);

SB - For Stafford (subsidized) and PLUS loans made on/after 10/1/81 but prior to
10/17/86, loans made on/after 10/17/86, but prior to 11/16/86 for periods of
enrollment beginning prior to 11/16/86 and Consolidation loans made
on/after 10/1/81, but prior to 11/16/86 (Tax-exempt loans – use XB);
SD -

For Stafford (subsidized) and PLUS/SLS loans made on/after 10/17/86 but
prior to 11/16/86 for periods of enrollment beginning on/after 11/16/86,
Stafford (subsidized), PLUS/SLS and Consolidation loans made on/after
11/16/86 but prior to 10/1/92, and Stafford (unsubsidized) loans made prior
to 10/1/92 for periods of enrollment beginning on/after 10/1/92 (Taxexempt loans during this period use XB);

SE -

For Stafford loans made on/after 10/1/92 but prior to 7/1/94, regardless of
the enrollment period, or loans made after 7/1/94 for an enrollment period
ending prior to 7/1/94, PLUS loans made on/after 10/1/92 but prior to
7/1/94, SLS loans made on/after 10/1/92 but prior to 7/1/94, or certified
before 7/1/94 and disbursed after 7/1/94, and Consolidation loans made
on/after 10/1/92 and those for which the loan application was received by
an eligible lender prior to 11/13/97 (Tax-exempt loans during this period
use XE);

SG -

For Stafford loans made on/after 7/1/94 but prior to 7/1/95, loans made
on/after 7/1/95 but prior to 7/1/98 during periods of repayment or
forbearance, PLUS loans made on/after 7/1/94 but prior to 7/1/98 and
Consolidation loans for which the loan application was received by an
eligible lender on/after 11/13/97 but prior to 10/1/98 (Tax-exempt loans
during this period use XG);

SH -

For Stafford loans made on/after 7/1/95 but prior to 7/1/98 only during the
in-school, grace and deferment periods and PLUS loans made on/after
7/1/98 but prior to 1/1/2000 (Tax-exempt loans during this period use XH);

SJ -

For Stafford loans made on/after 7/1/98 but prior to 1/1/2000 only during
the in-school, grace and deferment periods (Tax-exempt loans during this
period use XJ);

SK -

For Stafford loans made on/after 7/1/98 but prior to 1/1/2000 only during
the repayment and forbearance periods (Tax-exempt loans during this
period use XK);

SL -

Consolidation loans made on/after 10/1/98 but prior to 1/1/2000
(Tax-exempt loans during this period use XL);

9

Instructions

CA/LA Stafford loans made on/after 1/1/2000 but prior to 4/1/06, only during the
in-school, grace and deferment periods (Tax-exempt loans during this
period use XJ);
CB/LB Stafford loans made on/after 1/1/2000 but prior to 4/1/06, only during the
repayment and forbearance periods (Tax-exempt loans during this period
use XK);
CC/LC Consolidation loans made on/after 1/1/2000, but prior to 4/1/06
(Tax-exempt loans during this period use XL);
CD/LD PLUS loans made on/after 1/1/2000, but prior to 4/1/06
(Tax-exempt loans during this period use XH. Note: Effective for quarters on
or after 4/1/06, these loans should be reported as XQ);
CE/LE Stafford loans made on/after 4/1/2006 but prior to 10/1/2007, only during
the in-school, grace and deferment periods (Tax-exempt loans during this
period use XM);
CF/LF Stafford loans made on/after 4/1/2006 but prior to 10/1/2007, only during
the repayment and forbearance periods (Tax-exempt loans during this
period use XN);
CG/LG Consolidation loans made on/after 4/1/2006 but prior to 10/1/2007
(Tax-exempt loans during this period use XO);
CH/LH PLUS loans made on/after 4/1/2006 but prior to 10/1/2007 (Tax-exempt
loans during this period use XP);
CI/LI

Stafford loans made on/after 10/1/2007 but prior to 7/1/2010, only during
the in-school, grace and deferment periods;

CJ/LJ

Stafford loans made on/after 10/1/2007 but prior to 7/1/2010, only during
the repayment and forbearance periods;

CK/LK Consolidation loans made on/after 10/1/2007 but prior to 7/1/2010; or
CM/LM PLUS loans made on/after 10/1/2007 but prior to 7/1/2010.

10

Instructions
F

Interest Rate

Provide the applicable interest rate (as a decimal) for each group of loans.
Allowable rates are from 0% for IBR loans (enter as 0.00) - .25. For Consolidation
loans made on or after October 1, 1998, the allowable rates are from 1.5% - 8.25%.
Other allowable rates:





EVAR - for variable Federal Stafford and Unsubsidized Stafford, PLUS, and
SLS loans made on or after 10/1/92 – 6/30/06 and Consolidation loans
made during the "Emergency Consolidation Loan Act";
CVAR - for Federal PLUS and SLS loans made in 1986-7 where the interest
rate changes each January 1;
FVAR7, FVAR8, FVAR9, FVAR10, and FVARX - respectively for converted
fixed rate loans of 7%, 8%, 9%, 10% and 8/10%; or
VAR – for variable rate, PLUS and SLS loans made prior to 10/1/92

G

Ending Principal
Balance

Provide the total unpaid principal balance outstanding on all loans eligible for
special allowance (whole dollars only) for the stated combination of entries in
columns A-F, as of the last day of the quarter covered by this form. Complete this
column for Billing Code BC only.

H

Average Daily
Principal
Balance

For each combination of columns A through F, provide the average daily principal
balance (whole dollars only) of all eligible loans for the quarter. Complete this
column for Billing Code BC only.

I

Adjustments for
Difference in
Average Daily
Principal
Balance

Provide the difference in the Average Daily Principal Balance (whole dollars only,
positive number) between what should have been reported and what was originally
reported. Complete this column for a Billing Code of BI or BD only.

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Instructions
Part IV – Loan Activity
Applicability: Part IV shows the changes, which have occurred to the guaranteed loan principal in your
portfolio for each type of loan for the quarter covered by this form. Loan principal includes capitalized
interest as defined in line 3. This part must be completed and submitted each time you submit a LaRS
form. This part has 5 columns and 9 lines. Report all amounts in whole dollars.
Enter all loan information in the appropriate column:
A) Federal Stafford (except Unsubsidized Stafford) and FISL
B) Federal PLUS
C) Federal SLS
D) Federal Consolidation
E) Federal Unsubsidized Stafford
1

Beginning Principal Balance

Provide the outstanding principal balance (including the sum of
capitalized interest outstanding) of loans at the start of business on
the first day of the quarter. Unless an adjustment has been made, this
amount must be the same as the Ending Principal Balance from the
previous quarter's form.
PLEASE NOTE: adjustments made to the prior quarter ending balance
may be subject to review.

2

Loan Principal Disbursed

No new FFEL loans can be disbursed after 7/1/2010.

3

Interest Capitalized or Other
Principal Increase

Provide the amount of interest and unpaid insurance premiums, which
were added to principal during the quarter in accordance with
program regulations, principal transferred from other LIDs assigned to
your institution, and any other increases in your portfolio not shown
elsewhere.

4

Principal of Loans Purchased

Provide the principal amount of loans purchased (including interest
capitalized prior to purchase) from other Lenders.

5

Principal of Loans Cured

Provide the principal amount of loans (including the sum of interest
capitalized prior to the reinstatement of the loan's insurance) on
which insurance coverage was reinstated (cured) in accordance with
program regulations.

6

Principal of Loans Sold

Provide the principal amount of loans sold (including interest
capitalized prior to sale) to other Lenders including the Department of
Education.

7

Principal Paid by Insurance
Claims

Provide the amount received from the guarantor for principal
(including interest capitalized prior to claim filing) for default, death,
disability, bankruptcy and other claims authorized by statute,
regulations, and policy.

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Instructions

8

Principal of Loans on Which the
Guarantee Was Voided

Provide the principal amount of loans (including interest capitalized
prior to the loss of guarantee) on which the insurance guarantee was
voided due to a due diligence, timely filing, or other violation.

9

Principal Paid by Borrowers and Provide the amount of payment received to reduce outstanding
other Principal Reductions
principal and capitalized interest, including payments from borrowers,
refunds received from schools, checks returned uncashed for loans
reported disbursed in prior quarters, and principal transferred to other
LIDS assigned to your institution. Do not include claim payments from
guarantors.

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Instructions
Part V – Loan Portfolio Status
Applicability: Part V shows the status of the outstanding guaranteed loan principal in your portfolio for
each type of loan as of the end of the quarter covered by this form. Principal includes capitalized
interest. Include all guaranteed loans in this part except for ones, which the guarantee was voided.
Also, include loans, which were previously voided and then cured.
This part must be completed and submitted each time you submit a LaRS form. This part has 5 columns,
each covering a specific type of loan, and 4 rows (with the third containing 8 sub lines). Report all
amounts in whole dollars.

Enter all loan information in the appropriate column:
A) Federal Stafford (except unsubsidized Stafford) and FISL
B) Federal PLUS
C) Federal SLS
D) Federal Consolidation
E) Federal Unsubsidized Stafford

1

Loans in School and in Grace

Provide in the principal amount of all Stafford, FISL and Unsubsidized
Stafford loans in an "in school or grace period" status. Do not
include loans for which the borrower has a deferment due to
returning to school after expiration of the grace period. These loans
are to be included in line 2. Also, note that this status does not
apply to Federal PLUS, Federal SLS or Federal Consolidation loans.

2

Loans in Authorized Deferment

Provide the principal amount of all loans in a period of authorized
deferment.

3

Loans in Repayment or
Forbearance

Provide the appropriate category the principal amount of all loans in
a repayment for forbearance status. Include loans on which the
grace period has ended and no deferment has been authorized,
whether or not the borrower has made repayment arrangements or
has made a payment. Do not include loans on which a claim has
been filed with a guarantor in lines 3a through 3g. These loans are
reported in line 3h.

4

Ending Principal Balance

Provide the principal balance of outstanding loans at the end of
business on the last day of the quarter. Allowing for rounding, this
must equal the sum of lines 1,2, and 3a through 3h.
(4) = (1) + (2) + (3a) + (3b) + (3c) + (3d) + (3e) + (3f) + (3g) + (3h)

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