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
10/31/1999
10/31/1999
10/31/1998
444
0
444
2,220
0
2,220
0
0
0
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.
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.
Guaranty Agency Monthly Claims and Collection Report