Federal PLUS Loan Application and Master Promissory Note, Endorser Addendum, and School Certification

ICR 200706-1845-003

OMB: 1845-0069

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2007-08-07
Supplementary Document
2007-08-07
Supporting Statement A
2007-06-05
ICR Details
1845-0069 200706-1845-003
Historical Active 200602-1845-003
ED/FSA 3375
Federal PLUS Loan Application and Master Promissory Note, Endorser Addendum, and School Certification
Revision of a currently approved collection   No
Regular
Approved with change 08/10/2007
Retrieve Notice of Action (NOA) 06/08/2007
  Inventory as of this Action Requested Previously Approved
08/31/2010 36 Months From Approved 03/31/2008
1,066,915 0 922,500
1,049,350 0 922,500
0 0 0

The Federal PLUS Loan Application and Master Promissory Note is the means by which an eligible parent borrower applies for and agrees to repay a Federal PLUS Loan. If an applicant for a Federal PLUS Loan is determined to have an adverse credit history and obtains an endorser, the Endorser Addendum is the means by which the endorser agrees to repay the loan if the borrower does not repay it. The School Certifications form is the means by which a school certifies a borrower's eligibility for a Federal PLUS Loan if the school does not certify eligibility electronically.

US Code: 20 USC 1078-2 Name of Law: Higher Education Act of 1965, as amended
  
PL: Pub.L. 109 - 171 8805(c) Name of Law: Higher Education Reconciliation Act of 2005

Not associated with rulemaking

  71 FR 45666 08/09/2006
72 FR 31817 06/08/2007
No

  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 1,066,915 922,500 0 144,415 0 0
Annual Time Burden (Hours) 1,049,350 922,500 0 126,850 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Changing Regulations
Yes
Miscellaneous Actions
The Higher Education Reconciliation Act of 2005 extended eligibility for Federal PLUS Loans to graduate and professional students. Previously, Federal PLUS Loans were available only to parents of dependent undergraduate students. This change increased the number of Federal PLUS Loan borrowers. There is no decrease in hours although ROCIS is reporting one.

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Jon Utz 202 377-4040

  No

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.
06/08/2007


© 2024 OMB.report | Privacy Policy