William D. Ford Federal Direct Loan (Direct Loan) Program Federal Direct PLUS Loan Master Promissory Note and Endorser Addendum

Forms and Documents

Document Name	Status
Federal Direct PLUS Loan Application and Master Promissory Note Form and Instruction	Modified
Endorser Addendum Form and Instruction	Modified
1845-0068 Supporting Statement 30-DAY 08-23-2010.doc Supporting Statement A	2010-08-23

IC Document Collections

IC ID	Document Title	Status
22329	Federal Direct PLUS Loan Application and Master Promissory Note Form and Instruction	Modified
180539	Endorser Addendum Form and Instruction	Modified

ICR Details

OMB Control No: 1845-0068	ICR Reference No: 201008-1845-003
Status: Historical Active	Previous ICR Reference No: 200902-1845-007
Agency/Subagency: ED/FSA	Agency Tracking No: 4339
Title: William D. Ford Federal Direct Loan (Direct Loan) Program Federal Direct PLUS Loan Master Promissory Note and Endorser Addendum
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 11/02/2010
	Date Received in OIRA: 08/25/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2013	36 Months From Approved	11/30/2010
Responses	1,364,219	0	254,375
Time Burden (Hours)	682,110	0	127,188
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Direct PLUS Loan Master Promissory Note (Direct PLUS Loan MPN) serves as the means by which an individual applies for and agrees to repay a Federal Direct PLUS Loan. The Direct PLUS Loan MPN also informs the borrower of the terms and conditions of Direct PLUS Loan and includes a statement of borrower's rights and responsibilities. A Direct PLUS Loan borrower must not have an adverse credit history. If an applicant for a Direct PLUS Loan is determined to have an adverse credit history, the applicant may qualify for a Direct PLUS Loan by obtaining an endorser who does not have an adverse credit history. The Endorser Addendum serves as the means by which an endorser agrees to repay the Direct PLUS Loan if the borrower does not repay it.

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Authorizing Statute(s): US Code: 20 USC 1087e(i), 1078-2(a)(1)(A) Name of Law: Higher Education Act of 1965, as amended
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 152 2201 Name of Law: Health care & Education Reconciliation Act

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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:
	75 FR 34990	06/21/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 52316	08/25/2010
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Federal Direct PLUS Loan Application and Master Promissory Note	NA	Direct Loan Master Promissory Note
Endorser Addendum	NA	Endorser Addendum

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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	1,364,219	254,375	1,109,844	0	0	0
Annual Time Burden (Hours)	682,110	127,188	554,922	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The Health Care and Education Reconciliation Act of 2010 (Public Law 111-152) eliminated the authority for lenders to make new loans under the Federal Family Education Loan (FFEL) Program effective July 1, 2010. As a result, all new PLUS loans made on or after July 1, 2010 will be Federal Direct PLUS Loans. This will significantly increase the number of respondents from the previous approval of 254,375 respondents to 1,364,219 respondents. This results in a program change due to statute of 1,109,844 respondents and 554,922 burden hours for this collection.

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Annual Cost to Federal Government: $1,327,890

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 08/25/2010

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