The IBR Plan Request form serves as
the means by which a borrower with FFEL Program loans requests to
repay those loans under the IBR Plan and provides certain
information that is needed by the borrower's loan holder to
determine whether the borrower is eligible to repay under the IBR
Plan and to calculate the borrower's monthly payment amount under
the IBR Plan. The IBR Plan Alternative Documentation of Income form
serves as the means by which a borrower who is repaying FFEL
Program loans under the IBR provides the borrower's loan holder
with alternative documentation of the borrower's income if the
borrower's adjusted gross income (AGI) is not available from the
IRS, or if the loan holder believes that the borrower's most
recently reported AGI does not accurately reflect the borrower's
current income. Under the FFEL Program regulations, a borrower's
AGI is used to calculate the monthly loan payment amount under the
IBR Plan.
US Code:
20
USC 1098e Name of Law: Higher Education Act of 1965, as
amended
US Code: 10 USC 1098e Name of Law: HEA of
1965, as amended
This is a new collection that
is required to implement section 493C of the HEA [20 USC 1098(e)],
which established the income-based repayment plan in the FFEL
Program.
No
No
Uncollected
Uncollected
No
Uncollected
Jon Utz 202 377-4040
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.