View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1845-0100
ICR Reference No:
200911-1845-001
Status:
Historical Active
Previous ICR Reference No:
Agency/Subagency:
ED/FSA
Agency Tracking No:
4048
Title:
Part 601 - Institution and Lender Requirements Relating to Education Loans
Type of Information Collection:
New collection (Request for a new OMB Control Number)
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
01/05/2010
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/13/2009
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
01/31/2013
36 Months From Approved
Responses
117,162
0
0
Time Burden (Hours)
43,938
0
0
Cost Burden (Dollars)
0
0
0
Abstract:
Part 601 - Institution and Lender Requirements Relating to Education Loans is a new section of the final regulations governing private education loans offered at covered institutions by lenders also participating in the FFEL program. These final regulations provide for new Perkins loan cancellations. These final regulations assure the Secretary that the integrity of the program is protected from fraud and misuse of program funds and places requirements on institutions and lenders to insure that borrowers receive additional disclosures about Title IV, HEA program assistance prior to obtaining a private education loan.
Authorizing Statute(s):
US Code:
20 USC 1019-1019d
Name of Law: Higher Education Act of 1965, as amended
Citations for New Statutory Requirements:
US Code: 20 USC 674.53 Name of Law: HEOA
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1840-AC95
Final or interim final rulemaking
74 FR 55626
10/28/2009
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
74 FR 44356
08/28/2009
30-day Notice:
Federal Register Citation:
Citation Date:
74 FR 56824
11/03/2009
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Part 601 Institution Lender Requirements Perkins Cancellations Borrowers
Part 601 Institution Lender Requirements Perkins Cancellations Private Sector
Part 601 Institution Lender Requirements Perkins Cancellations Public Institutions
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
117,162
0
117,162
0
0
0
Annual Time Burden (Hours)
43,938
0
43,938
0
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The implementation of the final regulations as a result of the Negotiated Rulemaking process created additional information collections burden.
Annual Cost to Federal Government:
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)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Dan Klock 202 377-4026
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
11/13/2009
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