Statewide Interest Rate for Assumed Amortizations of Transportation Capital Expenses for the 2021-22 Aid Year

The calculated statewide average interest rate based on bus borrowings between 7/1/20 and 6/30/21 is: 1.000%.

This interest rate will be permanently applied to all assumed amortizations of transportation capital expense that will begin in the 2021-22 aid year. The rate will also be the preliminary rate applied to amortizations beginning in the 2022-23 aid year, until a permanent rate based on borrowings between 7/1/21 and 6/30/22 is established in fall 2022.

Mathematical Explanation of the Interest Rate Calculation

Statewide Average Interest Rates For Transportation Capital Expenses
Aid Year Rate
2021-22 1.000%
2020-21 1.875%
2019-20 1.875%
2018-19 2.000%
2017-18 1.500%
2016-17 1.500%
2015-16 1.500%
2014-15 1.375%
2013-14 1.375%
2012-13 1.375%
2011-12 1.625%
2010-11 2.125%
2009-10 3.00%
2008-09 3.125%
2007-08 3.25%
2006-07 3.125%
2005-06 2.375%
Last Updated: September 27, 2021