Federal Direct Consolidation Loan Program Application Documents

Forms and Documents

Document	Type	Status	Availability
Att_1845-0053.CCRAA & Reg Change Summary.03-10-2008.doc	Supplementary Document	Uploaded 2010-09-10	Repair queued
Att_1845-0053.SuppState.30-Day.11222010.doc	Supporting Statement A	Uploaded 2010-11-22	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
22301	Federal Direct Consolidation Loan Application and Promissory Note with Additional Loan Listing Sheet	Other-DL Appl and Promissory Form	Modified
181525	Federal Direct Consolidation Loan Request to Add Loans	Other-Request form	Modified
181524	Federal Direct Consolidation Loan Verification Certificate	Other-certificate form	Modified

ICR Details

OMB Control No: 1845-0053	ICR Reference No: 201009-1845-001
Status: Historical Active	Previous ICR Reference No: 200811-1845-002
Agency/Subagency: ED/FSA	Agency Tracking No: 4387
Title: Federal Direct Consolidation Loan Program Application Documents
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: 02/01/2011
	Date Received in OIRA: 11/29/2010
Terms of Clearance: This collection is approved for three years. ED agrees to submit a change worksheet (OMB Form 83-C) to account for any reduction in burden as the result of the pre-population of certain items on this form. If pre-population has not occured by the time this collection is resubmitted for approval, ED will provide OMB with an update on their pre-population efforts and a plan/schedule on how they will move forward.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2014	36 Months From Approved	01/31/2011
Responses	1,992,600	0	907,200
Time Burden (Hours)	717,582	0	326,704
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Direct Consolidation Loan Application and Promissory Note serves as the means by which a borrower applies for a Direct Consolidation Loan and promises to repay the loan. Related documents included with this collection are (1) Additional Loan Listing Sheet (provides additional space for a borrower to list loans that he or she wishes to consolidate, if there is insufficient space on the Application and Promissory Note); (2) Request to Add Loans (serves as the means by which a borrower may add other loans to an existing Direct Consolidation Loan within a specified time period); and (3) Loan Verification Certificate (serves as the means by which the U.S. Department of Education obtains the information needed to pay off the holders of the loans that the borrower wants to consolidate).

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Authorizing Statute(s): US Code: 20 USC 1087e(g) 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 and 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 177	09/14/2010
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 72818	11/26/2010
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Federal Direct Consolidation Loan Application and Promissory Note with Additional Loan Listing Sheet
Federal Direct Consolidation Loan Verification Certificate
Federal Direct Consolidation Loan Request to Add Loans

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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	1,992,600	907,200	1,085,400	0	0	0
Annual Time Burden (Hours)	717,582	326,704	390,878	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: ED is reporting an increase of 390,878 hours. This increase is attributable to the following two factors:(1) The provision of the Health Care and Education Reconciliation Act (HCERA) that eliminated the authority of lenders to make new Federal Family Education Loan (FFEL) Program loans (including Federal Consolidation Loans) effective July 1, 2010. As a result, FFEL Program borrowers who wish to consolidate their loans may only do so by consolidating into the Direct Loan Program. Therefore, the number of Direct Consolidation Loans that are made is expected to increase. (2)The Public Service Loan Forgiveness Program, which was added to the Higher Education Act of 1965, as amended (HEA) by the College Cost Reduction Act of 2007 (CCRAA; Public Law 110-84) and is available only to Direct Loan Program borrowers. ED expects a continued increase in the number of FFEL Program borrowers who wish to take advantage of this program by consolidating their loans into Direct Consolidation Loans.

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Annual Cost to Federal Government: $41,440,853

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: 11/29/2010

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