ED response to OMB Q's

From: Axt, Kathy [[email protected]]
Sent: Wednesday, October 18, 2006 11:16 AM
To: Potter, Rachel F.
Cc: Johnson, BJ; Rudolph, Kim
Subject: FW: OMB Comments on Lender's Request for Payment of Interest and Special Allowance (LARS - Form 799)

Follow Up Flag: Follow up
Flag Status: Red

Rachel, here is ED's response to your question.  Kathy

 

As stated in the supporting statement #4, a lot of information is captured by NSLDS however, NSLDS  does not capture sufficient loan level detail information (e.g. actual interest rates & borrower payments) to allow for the accurate calculation of interest & special allowance payments to FFEL lenders on a timely basis.  There is no duplication of data fields in NSDLS with the data requested on the LARS. 

 

-----Original Message-----
From: Potter, Rachel F. [mailto:[email protected]]
Sent: Monday, October 16, 2006 10:12 AM
To: Axt, Kathy
Cc: Rudolph, Kim
Subject: OMB Comments on Lender's Request for Payment of Interest and Special Allowance (LARS - Form 799)

Kathy  -

 

OMB has the following comment on the Lender's Request for Payment of Interest and Special Allowance (LARS - Form 799):

• Why is Education collecting the data for this collection twice - through this form and through NSLDS?  What justification can Education provide to respondents to explain this duplication of effort?  What efforts has Education made to eliminate the duplication?  By what date does Education expect that respondents will not have to report this data twice to the Department?

Please respond no later than noon on Wednesday 10/18.  Thanks!

 

Rachel F. Potter

Office of Information and Regulatory Affairs
Office of Management and Budget

Tel: (202) 395-5887

Fax: (202) 395-6974