Sections 682.603, 682.604, 685.301, and 685.304 – Entrance Counseling for Graduate/Professional PLUS Borrowers
The proposed changes to §§682.603 and 682.604 would require institutions to provide entrance counseling to students as a part of the process for certifying a FFEL Grad/PLUS loan. Institutions have automated the loan counseling process to a high degree therefore the burden increase to the institution is small.
# of FFEL Grad/PLUS Loans:
July, 2006 – April, 2007 X Additional % of = Total # loans
loans April through
June, 2007
101,504 1.33 135,000
Amount of increased burden per Grad/PLUS loan = .5 hours (30 minutes)
Affected Entities:
# of loans X Time to complete = Hours of
entrance counseling increased burden
BORROWERS: 135,000 .5 hours (30 minutes) 67,500
INSTITUTIONS: 135,000 .017 hours (1 minute) 2,295
Total Increase in Burden Hours: 69,795
Respondents, Responses and Burden Hours:
# of Respondents # of Responses # Hrs/Response #Hrs
Burden
Individuals 135,000 135,000 .5 = 67,500
Institutions 1,510 135,000 .017 = 2,295
| File Type | application/msword |
| File Title | Sections 682 |
| Author | DoED User |
| Last Modified By | DoED User |
| File Modified | 2007-06-04 |
| File Created | 2007-06-04 |