2009-2010 Loan Purchase --Ensured Continued Access to Student Loans Act of 2008

Forms and Documents

Document	Type	Status	Availability
Form 2EA46 Documents Associated with the Notice of Terms and Conditions of Additional Purchase of Loans under the "Ensuring Continued Access to Student Loans Act of 2008"	Form and Instruction	New	Available
Att_Supporting.Statement.0910.Loan.Purchase.Program.doc	Supporting Statement A	Uploaded 2009-04-07	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
188716	Documents Associated with the Notice of Terms and Conditions of Additional Purchase of Loans under the "Ensuring Continued Access to Student Loans Act of 2008"	Form and Instruction	New

ICR Details

OMB Control No: 1845-0091	ICR Reference No: 200904-1845-001
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: ED/FSA	Agency Tracking No: 3940
Title: 2009-2010 Loan Purchase --Ensured Continued Access to Student Loans Act of 2008
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/09/2009
	Date Received in OIRA: 04/20/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2012	36 Months From Approved
Responses	8,395	0	0
Time Burden (Hours)	14,780	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Ensuring Continued Access to Student Loans Act of 2008 (Pub. L. No. 110-227) (the ECASLA) which was signed into law on May 7, 2008, amended the Higher Education Act of 1965, as amended (the HEA) by adding a new Section 459A that provides the U.S. Department of Education (the Department) with temporary authority to purchase student loans from Federal Family Education Loan (FFEL) Program lenders. The documents included with this submission establish the terms and conditions that will govern certain loan purchases through the replication for the 2009-2010 academic year of the Loan Participation Purchase Program and the Loan Purchase Commitment Program that have been established for the 2007-2008 and 2008-2009 academic years.

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Authorizing Statute(s): US Code: 20 USC 1087i-1 Name of Law: HIgher Education Act of 1995, as amended
  

Citations for New Statutory Requirements: None

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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:
	74 FR 6399	02/09/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 17459	04/15/2009
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
Documents Associated with the Notice of Terms and Conditions of Additional Purchase of Loans under the "Ensuring Continued Access to Student Loans Act of 2008"	2EA46, IC5 MPA, IC2 MPA , IC4 MPA, IC3 MPA	2009-2010 Master Participation Agreement and 2009-2010 Master Loan Sales Agreement ,   Sponser's Monthly Rolling Forecast of Loans ,   Loan Data Elements File ,   Monthly Aggregate Settlement Date Report for the Master Participation Agreement Program ,   Loan Schedule and Custodial Certifications

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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	8,395	0	0	8,395	0	0
Annual Time Burden (Hours)	14,780	0	0	14,780	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: This is a new IC; therefore all burden is new. The Secretary has determined that the Department of Education will best serve its constituents by replicating the terms and conditions of the Loan Purchase Programs for the 2009-2010 academic year.

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Annual Cost to Federal Government:

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)? No

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: 04/20/2009

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