View Information Collection Request (ICR) Package

OMB Control No: 1845-0101	ICR Reference No: 201302-1845-005
Status: Historical Active	Previous ICR Reference No: 200912-1845-001
Agency/Subagency: ED/FSA	Agency Tracking No: 1465.03
Title: Part 601 Preferred Lender Arrangements
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/08/2013
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/28/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2016	36 Months From Approved	05/31/2013
Responses	16,576,360	0	13,674,883
Time Burden (Hours)	3,384,103	0	3,197,761
Cost Burden (Dollars)	0	0	0

Abstract: Part 601 - Institution and Lender Requirements Relating to Education Loans is a section of the regulations governing private education loans offered at covered institutions by lenders also participating in the FFEL program. These 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. These regulations require covered institutions to provide a variety of new loan disclosures, disclosures on private loans,for institutions to prepare and submit an annual report on the use of private loans, and to establish and adopt a code of conduct for institutions participation in a preferred lender arrangement. The Department, in conjunction with outside entities are submitting the Private Education Loan Applicant Self-Certification form for OMB's approval. While information about the applicant's cost of attendance and estimated financial assistance must be provided to the student, if available, the student will provide the data to the private loan lender who must collect and maintain the self-certification form prior to disbursement of a Private Education Loan. The Department will not receive the Private Education Loan Applicant Self-Certification form and therefore will not be collecting and maintaining the form or its data.

Authorizing Statute(s): US Code: 20 USC 1019-1019d Name of Law: Higher Education Act of 1965, as amended

Citations for New Statutory Requirements: PL: Pub.L. 111 - 152 2201 Name of Law: Health Care and Education Reconciliation Act of 2010

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 77051	12/31/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 13330	02/27/2013
Did the Agency receive public comments on this ICR? Yes

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute
Annual Number of Responses	16,576,360	13,674,883	2,901,477
Annual Time Burden (Hours)	3,384,103	3,197,761	186,342
Annual Cost Burden (Dollars)	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 Department is requesting a revision of the current information collection. There has been no changes to the required reporting or recordkeeping requirements of the Institution and Lender Requirements Relating to Education Loans. We have calculated an increase in burden due to a change in statute. The authority for lenders to make new loans under the Federal Family Education Loan program was terminated as of July 1, 2010 as a result of the Student Aid and Fiscal Responsibility (SAFRA) Act that was included in the Public Law 111-152, the Health Care and Reconciliation Act of 2010 (HCERA). We are calculating burden in this collection for institutions who had previously participated in the FFEL program who may now only participate in the Direct Loan program and those who previously participated in the Direct Loan program only.

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: Beth Grebeldinger 202 708-8242

View ICR - OIRA Conclusion