OMB does not approve this information collection request, as ED h not yet demonstrated that the collection procedures outlined in the GS NPRM impose the least burden on the public for the proper performance agency functions. At the same time, OMB continues the previous approv of the GSL reporting requirements under this OMB number, through January 1992. Specific areas that ED should investigate include: o general reporting requirements which lenders and borrowers must follow in processing GSLs, o requirements imposed on state, regional, and other agencies that guarantee GSLs, o requirements imposed on participating institutions of higher education. In addition, ED will obtain significant public comment on the NPR much of which regards the burdensomeness of reporting requirements. I the final rule preamble, ED should justify or revise those regulatory provisions containing information collection requirements, balancing expected program efficiency gains and budgetary savings against expected increases in administrative complexity and burden.
Inventory as of this Action
Requested
Previously Approved
01/31/1992
01/31/1992
01/31/1992
9,550,000
0
9,550,000
24,874,428
0
24,874,428
0
0
0
REGULATIONS ARE NEEDED TO IMPLEMENT STATUTORY CHANGES FOR THE HIGHER EDUCATION ACT OF 1965, AS AMENDED. THE REGULATIONS ARE NEEDED TO IMPLEMENT VARIOUS POLICY INITIATIVES DESIGNED TO IMPROVE PROGRAM ADMINISTRATION, REDUCE DEFAULTS AND GENERATE REPAYMENT ON LOANS THAT DO DEFAULT.
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:
(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;
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.