PERKINS LOAN PROGRAM (FORMERLY NATIONAL DIRECT/DEFENSE STUDENT LOAN PROGRAM) ASSIGNMENT FORM

Forms and Documents

Document Name	Status

No forms / supporting documents in this ICR. Check IC Document Collections.

IC Document Collections

IC ID	Document Title	Status
134087	PERKINS LOAN PROGRAM (FORMERLY NATIONAL DIRECT/DEFENSE STUDENT LOAN PROGRAM) ASSIGNMENT FORM Form	Migrated

ICR Details

OMB Control No: 1840-0091	ICR Reference No: 199203-1840-002
Status: Historical Active	Previous ICR Reference No: 198905-1840-001
Agency/Subagency: ED/OPE	Agency Tracking No:
Title: PERKINS LOAN PROGRAM (FORMERLY NATIONAL DIRECT/DEFENSE STUDENT LOAN PROGRAM) ASSIGNMENT FORM
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/05/1992
	Date Received in OIRA: 03/09/1992
Terms of Clearance: Approved as amended by ED's memoranda to OMB of 6/2/92 and 6/4/92. In addition, ED has agreed to the following terms: -- Electronic reporting of this collection will be reassessed followin an FY 1993 analysis of the issue. Accordingly, two-year clearance is granted. The next clearance request shall summarize the implications of the FY 1993 analysis for the Perkins Loan Assignment form; OMB encourages use of automated reporting. -- ED shall modify both sets of instructions for this form to indicate that annual approval is not necessary if institutions choose to submit electronically. ED approval is only necessary upon the initial reques and then if there are any structural changes to the form. -- The instructions shall reflect the current regulatory requirement that the minimum amount of a loan that may be assigend to ED is $200. If ED revises this regulation, the form shall reflect the revision. -- ED shall delete the word "detailed" from the instructions regarding an explanation as to why a payment history is not necessary. -- ED shall delete the requirement that institutions who choose not to litigate outstanding loans above $200 provide a written explanation. Neither the statute or regulations include this requirement. -- On p. 8 of the instructions, ED shall add "or after" after "on" in line 4 of item d.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/1994	06/30/1994	05/31/1992
Responses	60,000	0	60,000
Time Burden (Hours)	31,500	0	31,500
Cost Burden (Dollars)	0	0	0

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Abstract: THIS FORM IS USED TO COLLECT PERTINENT INFORMATION REGARDING DEFAULTED STUDENT LOANS FROM INSTITUTIONS PARTICIPATING IN THE PERKINS LOAN PROGRAM. ED FORM 553 SERVES AS THE TRANSMITTAL DOCUMENT IN THE ASSIGNMENT OF DEFAULTED STUDENT LOANS TO THE FEDERAL GOVERNMENT FOR COLLECTION.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
PERKINS LOAN PROGRAM (FORMERLY NATIONAL DIRECT/DEFENSE STUDENT LOAN PROGRAM) ASSIGNMENT FORM	ED 553

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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	60,000	60,000	0	0	0	0
Annual Time Burden (Hours)	31,500	31,500	0	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:

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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]? 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)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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: 03/09/1992

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