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{"sheet":"CCRA Borrower Savings","index":0,"n_rows":59,"n_cols":11,"rows_kept":59,"merged":[[0,0,1,6],[58,0,68,6]],"flags":["formulas_cached_only"]}
["Student Loan Interest Rate Reductions in H.R. 2669                                                    Calculation of Borrower Benefits*"]
[]
[]
["Class of 2009",{"$nulls":3},"Class of 2012",{"$nulls":3},"Class of 2015"]
["Disbursement/Academic Year  ","Interest Rate ","Loan Max $",null,"Disbursement/Academic Year  ","Interest Rate ","Loan Max $",null,"Disbursement/Academic Year  ","Interest Rate ","Loan Max $"]
["2005-2006",{"v":0.053,"d":"5.30%"},{"v":2625,"d":"2,625"},null,"2008-2009",{"v":0.06,"d":"6.00%"},{"v":3500,"d":"3,500"},null,"2011-2012",{"v":0.034,"d":"3.40%"},{"v":3500,"d":"3,500"}]
["2006-2007",{"v":0.068,"d":"6.80%"},{"v":3500,"d":"3,500"},null,"2009-2010",{"v":0.056,"d":"5.60%"},{"v":4500,"d":"4,500"},null,"2012-2013",{"v":0.068,"d":"6.80%"},{"v":4500,"d":"4,500"}]
["2007-2008",{"v":0.068,"d":"6.80%"},{"v":5500,"d":"5,500"},null,"2010-2011",{"v":0.045,"d":"4.50%"},{"v":5500,"d":"5,500"},null,"2013-2014",{"v":0.068,"d":"6.80%"},{"v":5500,"d":"5,500"}]
["2008-2009",{"v":0.06,"d":"6.00%"},{"v":5500,"d":"5,500"},null,"2011-2012",{"v":0.034,"d":"3.40%"},{"v":5500,"d":"5,500"},null,"2014-2015",{"v":0.068,"d":"6.80%"},{"v":5500,"d":"5,500"}]
[]
[null,"H.R. 2669","Current Law",null,null,"H.R. 2669","Current Law",null,null,"H.R. 2669","Current Law"]
["Consolidation loan balance",{"v":17125,"d":"$17,125"},{"v":17125,"d":"$17,125"},null,"Consolidation loan balance",{"v":19000,"d":"$19,000"},{"v":19000,"d":"$19,000"},null,"Consolidation loan balance",{"v":19000,"d":"$19,000"},{"v":19000,"d":"$19,000"}]
["Consolidation loan interest rate",{"v":0.06375,"d":"6.38%"},{"v":0.06625,"d":"6.63%"},null,"Consolidation loan interest rate",{"v":0.0475,"d":"4.75%"},{"v":0.06875,"d":"6.88%"},null,"Consolidation loan interest rate",{"v":0.0625,"d":"6.25%"},{"v":0.06875,"d":"6.88%"}]
["Years in repayment ",15,15,null,"Years in repayment ",15,15,null,"Years in repayment ",15,15]
["Monthly payment",{"v":148,"d":"$148"},{"v":150.36,"d":"$150"},null,"Monthly payment",{"v":147.79,"d":"$148"},{"v":169.45,"d":"$169"},null,"Monthly payment",{"v":162.91,"d":"$163"},{"v":169.45,"d":"$169"}]
["Total payment",{"v":26640.52,"d":"$26,641"},{"v":27064.16,"d":"$27,064"},null,"Total payment",{"v":26601.85,"d":"$26,602"},{"v":30501.42,"d":"$30,501"},null,"Total payment",{"v":29323.86,"d":"$29,324"},{"v":30501.42,"d":"$30,501"}]
[]
["Monthly borrower savings",null,{"v":2.3600000000000136,"d":"$2"},null,"Monthly borrower savings",null,{"v":21.659999999999997,"d":"$22"},null,"Monthly borrower savings",null,{"v":6.539999999999992,"d":"$7"}]
["Annual borrower savings",null,{"v":28.320000000000164,"d":"$28"},null,"Annual borrower savings",null,{"v":259.91999999999996,"d":"$260"},null,"Annual borrower savings",null,{"v":78.4799999999999,"d":"$78"}]
["Total borrower savings",null,{"v":423.6399999999994,"d":"$424"},null,"Total borrower savings",null,{"v":3899.5699999999997,"d":"$3,900"},null,"Total borrower savings",null,{"v":1177.5599999999977,"d":"$1,178"}]
[]
["Class of 2010",{"$nulls":3},"Class of 2013",{"$nulls":3},"Class of 2016"]
["Disbursement/Academic Year  ","Interest Rate ","Loan Max $",null,"Disbursement/Academic Year  ","Interest Rate ","Loan Max $",null,"Disbursement/Academic Year  ","Interest Rate ","Loan Max $"]
["2006-2007",{"v":0.068,"d":"6.80%"},{"v":2625,"d":"2,625"},null,"2009-2010",{"v":0.056,"d":"5.60%"},{"v":3500,"d":"3,500"},null,"2012-2013",{"v":0.068,"d":"6.80%"},{"v":3500,"d":"3,500"}]
["2007-2008",{"v":0.068,"d":"6.80%"},{"v":4500,"d":"4,500"},null,"2010-2011",{"v":0.045,"d":"4.50%"},{"v":4500,"d":"4,500"},null,"2013-2014",{"v":0.068,"d":"6.80%"},{"v":4500,"d":"4,500"}]
["2008-2009",{"v":0.06,"d":"6.00%"},{"v":5500,"d":"5,500"},null,"2011-2012",{"v":0.034,"d":"3.40%"},{"v":5500,"d":"5,500"},null,"2014-2015",{"v":0.068,"d":"6.80%"},{"v":5500,"d":"5,500"}]
["2009-2010",{"v":0.056,"d":"5.60%"},{"v":5500,"d":"5,500"},null,"2012-2013",{"v":0.068,"d":"6.80%"},{"v":5500,"d":"5,500"},null,"2015-2016",{"v":0.068,"d":"6.80%"},{"v":5500,"d":"5,500"}]
[]
[null,"H.R. 2669","Current Law",null,null,"H.R. 2669","Current Law",null,null,"H.R. 2669","Current Law"]
["Consolidation loan balance",{"v":18125,"d":"$18,125"},{"v":18125,"d":"$18,125"},null,"Consolidation loan balance",{"v":19000,"d":"$19,000"},{"v":19000,"d":"$19,000"},null,"Consolidation loan balance",{"v":19000,"d":"$19,000"},{"v":19000,"d":"$19,000"}]
["Consolidation loan interest rate",{"v":0.0625,"d":"6.25%"},{"v":0.06875,"d":"6.88%"},null,"Consolidation loan interest rate",{"v":0.05125,"d":"5.13%"},{"v":0.06875,"d":"6.88%"},null,"Consolidation loan interest rate",{"v":0.06875,"d":"6.88%"},{"v":0.06875,"d":"6.88%"}]
["Years in repayment ",15,15,null,"Years in repayment ",15,15,null,"Years in repayment ",15,15]
["Monthly payment",{"v":155.41,"d":"$155"},{"v":161.65,"d":"$162"},null,"Monthly payment",{"v":151.49,"d":"$151"},{"v":169.45,"d":"$169"},null,"Monthly payment",{"v":169.45,"d":"$169"},{"v":169.45,"d":"$169"}]
["Total payment",{"v":27973.42,"d":"$27,973"},{"v":29096.75,"d":"$29,097"},null,"Total payment",{"v":27268.36,"d":"$27,268"},{"v":30501.42,"d":"$30,501"},null,"Total payment",{"v":30501.42,"d":"$30,501"},{"v":30501.42,"d":"$30,501"}]
[]
["Monthly borrower savings",null,{"v":6.240000000000009,"d":"$6"},null,"Monthly borrower savings",null,{"v":17.95999999999998,"d":"$18"},null,"Monthly borrower savings",null,{"v":0,"d":"$0"}]
["Annual borrower savings",null,{"v":74.88000000000011,"d":"$75"},null,"Annual borrower savings",null,{"v":215.51999999999975,"d":"$216"},null,"Annual borrower savings",null,{"v":0,"d":"$0"}]
["Total borrower savings",null,{"v":1123.3300000000017,"d":"$1,123"},null,"Total borrower savings",null,{"v":3233.0599999999977,"d":"$3,233"},null,"Total borrower savings",null,{"v":0,"d":"$0"}]
[]
["Class of 2011",{"$nulls":3},"Class of 2014"]
["Disbursement/Academic Year  ","Interest Rate ","Loan Max $",null,"Disbursement/Academic Year  ","Interest Rate ","Loan Max $"]
["2007-2008",{"v":0.068,"d":"6.80%"},{"v":3500,"d":"3,500"},null,"2010-2011",{"v":0.045,"d":"4.50%"},{"v":3500,"d":"3,500"}]
["2008-2009",{"v":0.06,"d":"6.00%"},{"v":4500,"d":"4,500"},null,"2011-2012",{"v":0.034,"d":"3.40%"},{"v":4500,"d":"4,500"}]
["2009-2010",{"v":0.056,"d":"5.60%"},{"v":5500,"d":"5,500"},null,"2012-2013",{"v":0.068,"d":"6.80%"},{"v":5500,"d":"5,500"}]
["2010-2011",{"v":0.045,"d":"4.50%"},{"v":5500,"d":"5,500"},null,"2013-2014",{"v":0.068,"d":"6.80%"},{"v":5500,"d":"5,500"}]
[]
[null,"H.R. 2669","Current Law",null,null,"H.R. 2669","Current Law"]
["Consolidation loan balance",{"v":19000,"d":"$19,000"},{"v":19000,"d":"$19,000"},null,"Consolidation loan balance",{"v":19000,"d":"$19,000"},{"v":19000,"d":"19,000"}]
["Consolidation loan interest rate",{"v":0.05625,"d":"5.63%"},{"v":0.06875,"d":"6.88%"},null,"Consolidation loan interest rate",{"v":0.05625,"d":"5.63%"},{"v":0.06875,"d":"6.88%"}]
["Years in repayment ",15,15,null,"Years in repayment ",15,15]
["Monthly payment",{"v":156.51,"d":"$157"},{"v":169.45,"d":"$169"},null,"Monthly payment",{"v":156.51,"d":"$157"},{"v":169.45,"d":"$169"}]
["Total payment",{"v":28171.62,"d":"$28,172"},{"v":30501.42,"d":"$30,501"},null,"Total payment",{"v":28171.62,"d":"$28,172"},{"v":30501.42,"d":"$30,501"}]
[]
["Monthly borrower savings",null,{"v":12.939999999999998,"d":"$13"},null,"Monthly borrower savings",null,{"v":12.939999999999998,"d":"$13"}]
["Annual borrower savings",null,{"v":155.27999999999997,"d":"$155"},null,"Annual borrower savings",null,{"v":155.27999999999997,"d":"$155"}]
["Total borrower savings",null,{"v":2329.7999999999993,"d":"$2,330"},null,"Total borrower savings",null,{"v":2329.7999999999993,"d":"$2,330"}]
[]
["Source: New America Foundation"]
["*The calculated borrower benefits are the maximum savings a borrower could receive. Many borrowers would save less because only a portion of their loans are subsidized Stafford loans, the only loan type that would carry the reduced interest rates under. Savings are calculated by comparing a student taking out the maximum subsidized Stafford for each year he or she is enrolled at the rate set by the CCRA versus the existing one of 6.8 percent. Loan limits and interest rates vary slightly for currently enrolled classes due to legislative changes from the 2005 Deficit Reduction Act"]