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OMB Control No: 1840-0700	ICR Reference No: 199412-1840-003
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: ED/OPE	Agency Tracking No:
Title: CANCELLATION AND DEFERMENT REQUEST FORMS FOR THE FEDERAL DIRECT STUDENT LOAN PROGRAM
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR: No
Type of Review Request: Expedited
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/08/1995
	Date Received in OIRA: 12/07/1994
Terms of Clearance: Approved as amended by ED's memoranda to OMB of 12/19/94, 2/6/95, and 2/8/95. In addition, ED has agreed to meet the following conditions: -- ED will work with the Labor Department's Unemployment Insurance Service to establish a computer match with UIS files in order to satisfy the work search provisions of the form for an unemployment deferment. This consultation shall occur as soon as possible, and the match completed (or an explanation as to why it has not been completed) on or before the next clearance_request for this form. -- ED will develop, as part of its overall effort to reduce burden in the student aid programs, a proposal to remove the prescriptive requirements that currently exist in FFELP regulations regarding standards for graduate fellowship programs to qualify under the in-school deferment. These requirements must be revised under both the Direct and FFEL programs, since they fall under the statutory requirement that terms, conditions and benefits be identical between the two programs. The proposal will be considered as part of a forthcoming NPRM intended to streamline student aid regulations.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/1998	02/28/1998
Responses	45,000	0	0
Time Burden (Hours)	9,000	0	0
Cost Burden (Dollars)	0	0	0

Abstract: THESE DEFERMENT AND CANCELLATION FORMS WILL BE THE MEANS BY WHICH A DIRECT LOAN BORROWER REQUESTS AND PROVIDES CERTIFICATION THAT HE OR SH MEETS THE ELIGIBILITY REQUIREMENTS FOR A SPECIFIC DEFERMENT OF REPAYME OR CANCELLATION OF A LOAN OBLIGATION.

Authorizing Statute(s): None

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:

Federal Register Notices & Comments
Did the Agency receive public comments on this ICR? No

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
CANCELLATION AND DEFERMENT REQUEST FORMS FOR THE FEDERAL DIRECT STUDENT LOAN PROGRAM	40-700, 40-701, 40-702, 40-703, 40-704, 40-705, 40-706, 40-707

ICR Summary of Burden

	Total Approved	Change Due to Agency Discretion
Annual Number of Responses	45,000	45,000
Annual Time Burden (Hours)	9,000	9,000
Annual Cost Burden (Dollars)	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

View ICR - OIRA Conclusion