William D. Ford Federal Direct Loan (Direct Loan) Program Electronic Debit Account Application and Brochure

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
William D. Ford Federal Direct Loan (Direct Loan) Program Electronic Debit Account Application and Brochure (JS)	Form and Instruction	Modified	Available
1845-0040 Supporting Statement 30-day.04-28-2011.docx	Supporting Statement A	Uploaded 2011-05-05	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
22262	William D. Ford Federal Direct Loan (Direct Loan) Program Electronic Debit Account Application and Brochure (JS)	Form and Instruction	Modified

ICR Details

OMB Control No: 1845-0040	ICR Reference No: 201104-1845-005
Status: Historical Active	Previous ICR Reference No: 200803-1845-005
Agency/Subagency: ED/FSA	Agency Tracking No: 4530
Title: William D. Ford Federal Direct Loan (Direct Loan) Program Electronic Debit Account Application and Brochure
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: 06/10/2011
	Date Received in OIRA: 05/10/2011
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2014	36 Months From Approved	06/30/2011
Responses	706,200	0	251,129
Time Burden (Hours)	23,516	0	8,363
Cost Burden (Dollars)	233,046	0	0

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Abstract: The Application for Automatic Withdrawal of Payments serves as the means by which a Direct Loan borrower requests and authorizes the automatic debiting of monthly student loan payments from the borrower's checking or savings account. The application collects the necessary bank account information that allows the U.S. Department to debit the borrower's loan payments. Borrowers who enroll in automatic payment withdrawal receive a repayment incentive in the form of a 0.25% reduction in the interest rate on their Direct Loans during periods when payments are made by this method. Borrowers who do not wish to enroll in automatic debiting of all monthly payments may provide bank account information that allows them to authorize electronic debiting of individual monthly loan payments.

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Authorizing Statute(s): US Code: 20 USC 1087(e)(b)(8) 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:
	76 FR 12342	03/07/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 27033	05/10/2011
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
William D. Ford Federal Direct Loan (Direct Loan) Program Electronic Debit Account Application and Brochure (JS)	N/A	Direct Loan Program EDA Application

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ICR Summary of Burden

table that charts list 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	706,200	251,129	0	455,071	0	0
Annual Time Burden (Hours)	23,516	8,363	0	15,153	0	0
Annual Cost Burden (Dollars)	233,046	0	0	233,046	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

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, Sec. 2201) eliminated the authority for lenders to make new loans under the Federal Family Education Loan (FFEL) Program effective July 1, 2010. All new Stafford, PLUS, and Consolidation loans are now made only through the Direct Loan Program. This has resulted in an increase in the number of Direct Loan borrowers, with a corresponding increase in the estimated number of respondents of 455,071 responses and 15,153 hours for this collection.

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Annual Cost to Federal Government: $383,400

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: 05/10/2011

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