Teach Grant ATS 83-C

PAPERWORK REDUCTION ACT

CHANGE WORKSHEET

Agency/Subagency      U.S. Department of Education, Federal Student Aid		OMB Control Number     -    1845-006983
Enter only items that change Current Record New Record
Agency form number(s)	     N/A	     N/A
Annual reporting and record keeping hour burden
Number of respondents	55,800     1,066,915	55,8001,066,915     No change239,050
Total annual responses	55,8001,066,915     	55,8001,066,915     No change897,050
Percent of these responses collected electronically	     50100%	     No change775100%
Total annual hours	27,900     1,049,350	27,9001,049,350     No change322,629
Difference		     N/A0
Explanation of difference Program Change		     N/A
Adjustment		     N/A
Annual reporting and record keeping cost burden (in thousands of dollars)
Total annualized capital/startup costs	     0	     0
Total annual costs (O&M)	     0	     0
Total annualized cost requested	     0	     0
Difference		     0
Explanation of difference Program Change		     N/A
Adjustment		     N/A
Other change**      The College Cost Reduction and Access Act of 2007 (CCRAA) (Public Law 110-84), which was signed into law on September 27, 2007, and final regulations published on November 1, 2007 (72 FR 61960 and 72 FR 62014) made several changes to the terms and conditions of Federal PLUS Loans under the Federal Family Education Loan (FFEL) Program. Because of the timing of the enactment of the CCRAA and the publication of the final regulations, these statutory and regulatory changes were not included in the Federal PLUS Loan Application and Master Promissory Note (Federal PLUS Loan MPN) and the accompanying Endorser Addendum that OMB approved on 08/10/2007. For this reason, the Department is now requesting approval to amend the Federal PLUS Loan MPN and Endorser Addendum to reflect the changes made by the CCRAA and the November 1, 2007 regulations. The requested changes are limited in scope and do not affect the burden associated with this collection. The changes associated with the CCRAA are limited to basic statutory requirements that do not require implementing regulations. The regulatory changes resulted from regulations developed under the negotiated rulemaking process. The proposed changes are listed in an attachment to this Change Worksheet and are also highlighted in the attached revised Federal PLUS Loan MPN and Endorser Addendum. The Teacher Education Assistance for College and Higher Education Grant Program (TEACH Grant Program) Agreement to Serve (ATS) that was approved under OMB Control Number 1845-0083 reflects the provisions of the TEACH Grant Program proposed regulations that were published in the Federal Register on March 21, 2008 (73 FR 15336). One of the provisions in the proposed regulations is that there is no grace period if a TEACH Grant is converted to a Direct Unsubsidized Loan because the grant recipient failed to meet the requirements of the TEACH Grant Program. Under the proposed regulations, a TEACH Grant that is converted to a loan enters repayment immediately upon conversion. As a result of a recent policy decision, the TEACH Grant Program regulations are being amended to provide that a TEACH Grant recipient will receive a 6-month grace period on repayment if a TEACH Grant is converted to a Direct Unsubsidized Loan. The repayment period on the loan will begin on the day after the end of the 6-month grace period. This change will be incorporated in the TEACH Grant Program final regulations that are to be published in June 2008, and will be effective as of July 1, 2008. The Department is requesting approval to modify the currently approved ATS to reflect the new grace period provision described above, so that the ATS that will be made available to TEACH Grant recipients beginning July 1, 2008 will be consistent with the final TEACH Grant regulations. The proposed changes are shown in the revised ATS that is included with this OMB 83-C.
Signature of Senior Officer or designee:      	Date:      046-140-2008	For OIRA Use            

**This form cannot be used to extend an expiration date

OMB 83-C