Guaranty Agency Monthly Claims and Collection Report

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
21903	Guaranty Agency Monthly Claims and Collection Report Form	Migrated

ICR Details

OMB Control No: 1840-0582	ICR Reference No: 199809-1840-002
Status: Historical Active	Previous ICR Reference No: 199708-1840-002
Agency/Subagency: ED/OPE	Agency Tracking No:
Title: Guaranty Agency Monthly Claims and Collection Report
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: 10/23/1998
	Date Received in OIRA: 09/10/1998
Terms of Clearance: Approved consistent with ED's submission of 10/23/98. In addition, the following terms of clearance apply: 1) ED will continue its work towards eliminating the current GA reporting system (i.e. the 1189 and 1130) in favor of a system based on loan-level data (NSLDS or a successor system). 2) To the maximum extent possible, the NSLDS-based system (or the successor system based on loan-level data) should be: (a) the primary data source for ED's information needs related to GAs; (b) provide timely and accurate data; (c) be capable of supporting clean audits; (d) eliminate unnecessary burden on GAs while ensuring that ED has adequate data to not only make payments to GAs, but to effectively manage and improve ED's financial management system and the student financial aid process in general. 3) In the context of the development of new regulations for HEA Reauthorization, ED should develop a list of regulatory changes or other administrative changes needed in order to best meet the goals of term 2 above. 4) ED will ensure that the initiative to further consolidate and streamline the GA forms (the "forms 2000" initiative) acts as an effective interim step towards the end goal of an NSLDS system consistent with term 2 above. Further, ED will continue its work with GAs to ensure that the transition to the NSLDS-based system is minimally burdensome. Specifically, ED should provide GAs with expected future requirements under the NSLDS- based system and where appropriate, provide timelines for implementation. Further, ED should continue to consult GAs on the burden-implications of taking multiple interim steps vs. making a change to NSLDS in one step. 5) ED will, 6 months from this clearance, provide OMB with an update on progress made on these terms of clearance. As part of that update, ED will to the best of its ability, provide a specific time-frame by which the transition to the a specific time-frame by which the transition to the NSLDS-based system will be complete. 6) OMB commends ED for the hard work they have done thus far in consolidating the GA forms and investigating NSLDS reasonability.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/1999	10/31/1999	10/31/1998
Responses	444	0	444
Time Burden (Hours)	2,220	0	2,220
Cost Burden (Dollars)	0	0	0

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Abstract: The ED form 1189 is used by a guaranty agency to request payment of reinsurance for default, bankruptcy, death, disability claims paid to lenders, and costs incurred for SPA, closed school, false certification, lender of last resort, and lender referral fee payments. Agencies use the form to make payments owed to ED for collections on defaulted loans.

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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
Guaranty Agency Monthly Claims and Collection Report	1189

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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	444	444	0	0	0	0
Annual Time Burden (Hours)	2,220	2,220	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: 09/10/1998

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