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:
1845-0007
ICR Reference No:
202608-1845-002
Status:
Active
Previous ICR Reference No:
202604-1845-004
Agency/Subagency:
ED/FSA
Agency Tracking No:
Title:
William D. Ford Federal Direct Loan Program (Direct Loan Program) Promissory Notes and related forms
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
08/10/2026
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/10/2026
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
08/31/2029
08/31/2029
08/31/2029
Responses
12,422,843
0
12,422,843
Time Burden (Hours)
6,211,422
0
6,211,422
Cost Burden (Dollars)
181,374,628
0
181,374,628
Abstract:
Section 455(i) of the Higher Education Act of 1965, as amended (the HEA) requires the U.S. Department of Education (the Department) to develop, print, and distribute a standard promissory note to schools that participate in the William D. Ford Federal Direct Loan Program (Direct Loan Program). The One Big Beautiful Bill Act (OBBBA) signed into law on July 4, 2025, made statutory changes to Sections 455(a), 455(d), 455(e), 455(g), and 455(q) that impact borrower eligibility, terms and conditions, and borrowers’ rights and responsibilities for Direct Loans received on or after July 1, 2026. Additionally, previous provisions regulated in 34 C.F.R. 685.209 effective July 1, 2024, were invalidated as a result of court actions on March 10, 2026. This is a request for a revision of this collection to align the promissory note with the requirements of the OBBBA.
Authorizing Statute(s):
US Code:
20 USC 1087a et seq
Name of Law: Higher Education Act 1965 as amended
Citations for New Statutory Requirements:
None
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:
91 FR 17956
04/09/2026
30-day Notice:
Federal Register Citation:
Citation Date:
91 FR 38699
06/26/2026
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
4
IC Title
Form No.
Form Name
William D. Ford Federal Direct Loan Program (Direct Loan Program) Promissory Notes and related forms (Individuals)
NA, NA, NA, NA, NA, NA
NA
,
NA
,
NA
,
NA
,
NA
,
NA
William D. Ford Federal Direct Loan Program (Direct Loan Program) Promissory Notes and related forms (Private)
NA, NA, NA, NA, NA, NA
NA
,
NA
,
NA
,
NA
,
NA
,
NA
William D. Ford Federal Direct Loan Program (Direct Loan Program) Promissory Notes and related forms (Profit)
NA, NA, NA, NA, NA, NA
NA
,
NA
,
NA
,
NA
,
NA
,
NA
William D. Ford Federal Direct Loan Program (Direct Loan Program) Promissory Notes and related forms (Public)
NA, NA, NA, NA, NA, NA
NA
,
NA
,
NA
,
NA
,
NA
,
NA
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
12,422,843
12,422,843
0
0
0
0
Annual Time Burden (Hours)
6,211,422
6,211,422
0
0
0
0
Annual Cost Burden (Dollars)
181,374,628
181,374,628
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 Department has updated burden numbers based on the most current information available to the Department, which is in part the reason for the increase in respondents and burden. When determining the numbers, the Department accounted for the decrease in form completion due to the elimination of Grad PLUS loans. The revision of this collection in 2024 inadvertently omitted certain aspects of burden and left out some entities. Updated burden and response numbers now include burden for all affected entities. The Department is requesting a total of 12,422,843 responses and 6,211,422 burden hours.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
Yes
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
Yes
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?
No
Agency Contact:
Carolyn Rose 202 803-1502
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:
08/10/2026
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