Federal Stafford Loan (Subsidized and Unsubsidized) Program Master Promissory Note (Revised Form)

Forms and Documents

Document	Type	Status	Availability

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

IC Document Collections

IC ID	Collection	Type	Status	Form
22042	Federal Stafford Loan (Subsidized and Unsubsidized) Program Master Promissory Note (Revised Form)		Migrated

ICR Details

OMB Control No: 1840-0742	ICR Reference No: 199903-1840-003
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: ED/OPE	Agency Tracking No:
Title: Federal Stafford Loan (Subsidized and Unsubsidized) Program Master Promissory Note (Revised Form)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 03/26/1999
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/12/1999
	Date Received in OIRA: 03/12/1999
Terms of Clearance: Approved consistent with the following terms. 1) OMB notes that with this approval, there are now two viable master prom notes for the FFEL program. This was necessary to make a change to item 11 on the form so that students would have an option to work with their school in developing a request amount for loans in a given year. Schools and students can exercise this option by either utilizing the master prom note covered under this clearance or the master note approved under 1840-0731. 2) Following this clearance, ED will do an analysis of the percentage of respondents using 1840-0731 versus this approval. As a result of this analysis, ED will submit the appropriate burden change sheets so that burden can be properly distributed between the two OMB numbers. 3) With the regular request for clearance, ED will provide a schedule for unifying all of the FFEL prom notes into a single approval package as soon as possible.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/1999	09/30/1999
Responses	1,400,000	0	0
Time Burden (Hours)	1,400,000	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: This promissory note is the means by which a Federal Stafford Program Loan borrower promises to repay his or her loan.

Emergency Justfication:

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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
Federal Stafford Loan (Subsidized and Unsubsidized) Program Master Promissory Note (Revised Form)

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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	1,400,000	0	0	1,400,000	0	0
Annual Time Burden (Hours)	1,400,000	0	0	1,400,000	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

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: 03/12/1999

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