Notice of Terms and Conditions of Purchase of Loans under the Ensuring Continued Access to Student Loans Act of 2008. (JH)

Forms and Documents

Document Name	Status
Form EA8 Notice of Terms and Conditions of Purchase of Loans under the Ensuring Continued Access to Student Loans Act of 2008. (JH) Form and Instruction	Modified
Att_OMB1845.0087.SStatement.corrected.121808.doc Supporting Statement A	2008-12-19

IC Document Collections

IC ID	Document Title	Status
185429	Notice of Terms and Conditions of Purchase of Loans under the Ensuring Continued Access to Student Loans Act of 2008. (JH) Form and Instruction	Modified

ICR Details

OMB Control No: 1845-0087	ICR Reference No: 200812-1845-004
Status: Historical Active	Previous ICR Reference No: 200811-1845-005
Agency/Subagency: ED/FSA	Agency Tracking No: 03878
Title: Notice of Terms and Conditions of Purchase of Loans under the Ensuring Continued Access to Student Loans Act of 2008. (JH)
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: 03/11/2009
	Date Received in OIRA: 01/09/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2012	36 Months From Approved	03/31/2009
Responses	15,195	0	9,700
Time Burden (Hours)	26,980	0	18,800
Cost Burden (Dollars)	0	0	0

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Abstract: As one of several measures intended to address concerns about the availability of loans under the Federal Family Education Loan (FFEL) Program during the 2008-2009 academic year, the Ensuring Continued Access to Student Loans Act of 2008 (ECASLA) provides the Department of Education (the Department) with temporary authority to purchase student loans from FFEL Program lenders. The documents included in this collection set forth the terms and conditions of the loan purchase program authorized by the ECASLA and collect the information from lenders that is required by the Department to administer the program.

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Authorizing Statute(s): PL: Pub.L. 110 - 227 7 Name of Law: Ensuring Continued Access to Student Loans Act of 2008
   US Code: 20 USC 1087i-I Name of Law: Higher Education Act of 1965, as amended
   PL: Pub.L. 110 - 350 1 Name of Law: Extension of STudent Loan Purchase Authority
  

Citations for New Statutory Requirements: PL: Pub.L. 110 - 227 7 Name of Law: Ensuring Continued Access to Student Loans Act of 2008

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 65839	11/05/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 893	01/09/2009
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Notice of Terms and Conditions of Purchase of Loans under the Ensuring Continued Access to Student Loans Act of 2008. (JH)	EA14, EA15, EA36, AE9, EA8, EA17, EA16, NA, EA38, EA26, EA23	Loan Purchase Agreement, Master Participation Agreement and Master Loan Sales Agreement ,   Notice of Intent to Participate ,   Document Submission Insturctions for Banks Wishing to Perform as Custodians ,   Sponsor's Monthly Rolling Forecast of Loans Designated for the Loans Participation Purchase Program ,   Exhibit G, Loan Schedule and Custodial Certification Data File FIelds Definitions and SUbmission Procedures ,   Monthly Aggregate Settlement Date Report and Monthly Aggregate Settlement Report Data Fields Submission Procedures ,   Master Loan Sales Agreement and 45-Day Notice of Intent to Sell Loans ,   Bill of Sale, Security Release Certification, Notice of Assignment and Designation of Payee, Document Submission Procedures ,   Matser Loans Sales Agreement 2007-2008 ,   "Offer to Sell Pursuant to Master Loan Sale Agreement 2007-2008 ,   EA 39

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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	15,195	9,700	0	5,495	0	0
Annual Time Burden (Hours)	26,980	18,800	0	8,180	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: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The burden hours are based primarily on the development of new forms required since the initial collection projections.

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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: 01/09/2009

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