Approved for one
year, provided that FSA provide for the public docket a brief
written update on the status of the terms of clearance. As noted in
the emergency approval terms of clearance, in the coming year the
Department is likely to make revisions to this data collection,
consistent with the Office of Federal Student Aid's data strategy
and ongoing analysis of the feasibility and practicality of
collecting loan level data for payment purposes; (2)data deemed
necessary to derive guaranty agency costs that are comparable to
FFEL subsidy costs; (3) changes to ensure that sufficient data are
provided on GA Federal Funds held outside of the Treasury,
consistent with Treasury FMS Guideance (Treasury Transmittal Letter
No. 608). OMB expects to work closely with the Department on these
efforts, and fully expects tangible and specific results within the
upcoming year.
Inventory as of this Action
Requested
Previously Approved
04/30/2006
04/30/2006
02/28/2005
612
0
612
33,660
0
33,660
0
0
0
The Guaranty Agency Financial Report
is used to request payments from and make payments to the
Department of Education under the FFEL program authorized by Title
IV, Part B of the HEA of 1965, as amended. The rpeort is also used
to monitor the agency's financial activities, including activities
concerning the federal fund; operating fund and the agency's
restricted account.
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.