LIS

Virginia Law

Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 8. Education
Agency 20. State Board of Education
Chapter 100. Regulations Governing Literary Loan Applications in Virginia
12/26/2024

8VAC20-100-140. Determination of interest rate.

The interest rate for a loan generally shall be determined on the basis of a composite index of the applying school division as follows:

Per Annum Interest Rate

Step 1.

Composite Index between .2 and .2999

2.0%

Step 2.

Composite Index between .3 and .3999

3.0%

Step 3.

Composite Index between .4 and .4999

4.0%

Step 4.

Composite Index between .5 and .5999

5.0%

Step 5.

Composite Index between .6 and .8000

6.0%

Statutory Authority

Article VIII, § 8 of the Constitution of Virginia; §§ 22.1-140 and 22.1-142 et seq. of the Code of Virginia.

Historical Notes

Derived from VR270-01-0009 § 6.2, eff. March 30, 1988; amended, Virginia Register Volume 11, Issue 10, eff. March 8, 1995.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.