The Federal Family Educational Loan Program final regulations revise current regulations in areas of program administration and assure the Secretary that program integrity is protected from fraud and misuse of program funds. The proposed regulations would provide that upon a loan holderÂs receipt of a written request from a borrower and a copy of the borrowerÂs military orders, the maximum interest rate that may be charged on Stafford loans made prior to entering active military duty is six percent while on active duty.
US Code:
20 USC 1087-1
Name of Law: Higher Education Act of 1965, as amended
US Code:
20 USC 1078
Name of Law: Higher Education Act of 1965, as amended
US Code: 20 USC 1087 and 1087-1 Name of Law: Higher Education Act of 1965, as amended
The final regulations would provide that upon a loan holderÂs receipt of a written request from a borrower and a copy of the borrowerÂs military orders, the maximum interest rate that may be charged on Stafford loans made prior to entering active military duty is six percent while on active duty.
$0
No
No
Uncollected
Uncollected
No
Uncollected
Dan Klock 202 377-4026
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.