Approved
consistent with ED's memo to OMB of 10/27/99. OMB notes the the
forms 2000 initiative will replace the need for this form 1189 and
thus this form is extended for 1 year to allow time for full
implenentation of the new reporting system. OMB further notes, that
several of the previous terms of clearance are still in effect.
Specifically: 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) 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. 4) 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
10/31/2000
10/31/2000
10/31/1999
432
0
444
2,160
0
2,220
0
0
0
This form is used by a guaranty agency
to request payments of reinsurance for default, bankruptcy, death,
disability claims paid to lenders, and for costs incurred for spa,
closed school, false certification, and lender of last resort and
lender referral fee pay.
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 Collections Report (JS)