View Information Collection Request (ICR) Package

OMB Control No: 1845-0106	ICR Reference No: 201510-1845-003
Status: Historical Inactive	Previous ICR Reference No: 201504-1845-001
Agency/Subagency: ED/FSA	Agency Tracking No:
Title: Student Assistance General Provisions - Subpart K - Cash Management
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Preapproved	Conclusion Date: 10/29/2015
	Date Received in OIRA: 10/14/2015
Terms of Clearance: Pre-approval contingent upon no substantive changes to this collection after adoption of the final rule. Otherwise this collection should be re-submitted to OMB for review.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2018	36 Months From Approved	12/31/2016
Responses	4,282,188	0	682,848
Time Burden (Hours)	1,169,648	0	59,999
Cost Burden (Dollars)	0	0	0

Abstract: The Department of Education proposes to amend the Student Assistance General Provisions regulations issued under the Higher Education Act of 1965, as amended (HEA), to implement the changes made to the Student Assistance General Provisions regulations – Subpart K – Cash Management §668.164 – Disbursing funds. These proposed regulations are a result of negotiated rule-making and would add new requirements to the current regulations. These proposed regulations are intended to ensure students and parents have convenient access to their Title IV, HEA program funds, do not incur unreasonable and uncommon financial account fees on these title IV funds and are not led to believe that they must open a particular financial account to receive their Federal student aid. The proposed regulations would add requirements that an institution that makes direct payments to a student or parent by electronic funds transfer (EFT) and that chooses to enter into an arrangement described in proposed 668.164(e) or (f), including an institution that uses a third-party servicer to make those payments, must establish a selection process under which the student or parent chooses one of several options for receiving those Title IV, HEA fund payments.

Authorizing Statute(s): US Code: 20 USC 1070g, 1091, 1094 Name of Law: Higher Education Act of 1965, as amended

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1840-AD14	Final or interim final rulemaking

Federal Register Notices & Comments
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
Disbursing Funds
Disbursing Funds
Disbursing Funds

ICR Summary of Burden

	Total Request	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	4,282,188	682,848	3,599,340
Annual Time Burden (Hours)	1,169,648	59,999	1,109,649
Annual Cost Burden (Dollars)	0	0	0

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

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: This information collection filing is a revision to the current burden assessment. Since the initial filing of this information collection package in 2010 there has been no change to the statute. However, Negotiated Rulemaking added new regulations. The increase in the burden hours identified here is due to new disclosure requirements to eligible students and an increase in the burden for eligible institutions to provide such disclosures and update their recordkeeping systems.

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