Cohort Default Rates for Institutions Participating in the FFEL or Direct Loan Programs

Forms and Documents

Document Name	Status
supporting statement.1845-0022.doc Supporting Statement A	2007-11-13

IC Document Collections

IC ID	Document Title	Status
41403	General Provisions of Title IV Grant and Loan Programs/Payment Periods and Disbursements Other-Regulatory requirements	Modified
181406	Post-Withdrawal Disbursements of Funds - Section 668.22 (Institutions) Other-regulatory requirement	Modified
181332	Post-Withdrawal Disbursements of Funds - Section 668.22 (Students) Other-regulatory requirement	Modified

ICR Details

OMB Control No: 1845-0022	ICR Reference No: 200711-1845-003
Status: Historical Active	Previous ICR Reference No: 200706-1845-012
Agency/Subagency: ED/FSA	Agency Tracking No: 3528
Title: Cohort Default Rates for Institutions Participating in the FFEL or Direct Loan Programs
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/06/2008
	Date Received in OIRA: 11/14/2007
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2011	36 Months From Approved	02/29/2008
Responses	245,368	0	93,877
Time Burden (Hours)	1,191,391	0	1,209,890
Cost Burden (Dollars)	0	0	0

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Abstract: The regulations establish the standards to participate in the student financial assistance programs authorized by Title IV of the Higher Education Act of 1965 (Title IV, HEA programs).

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Authorizing Statute(s): US Code: 20 USC 1001 Name of Law: Higher Education Act of 1965, as amended
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1840-AC91	Final or interim final rulemaking	72 FR 62014	11/01/2007

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Post-Withdrawal Disbursements of Funds - Section 668.22 (Institutions)
Post-Withdrawal Disbursements of Funds - Section 668.22 (Students)
General Provisions of Title IV Grant and Loan Programs/Payment Periods and Disbursements

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ICR Summary of Burden

	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	245,368	93,877	0	151,491	0	0
Annual Time Burden (Hours)	1,191,391	1,209,890	0	-18,499	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: There are changes to the regulatory sections that align the payment periods and disbursements of Title IV grant and loan funds, thus decreasing burden on schools and students. In addition, there are changes to the requirements for disbursement of post-withdrawal grant proceeds, which reduce the burden on institutions by eliminating a notification and confirmation process, in those cases where the student is eligible to receive a disbursement of Title IV grant funds directly.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 11/14/2007

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