Clearance
provided for one year on the condition that the Department review
guaranty agency reporting of Other Expenses and Other Revenues
to confirm amounts are reported in uniform categories now required
for monthly GA reporting. If amounts are not reported in uniform
categories, Education should review reporting requirements for the
next version of this form.
Inventory as of this Action
Requested
Previously Approved
09/30/2013
36 Months From Approved
09/30/2012
792
0
875
43,560
0
42,960
0
0
0
The Guaranty Agency Financial Report
(GAFR), ED Form 2000, is used by the thirty-three (33) guaranty
agencies under the FFEL program, authorized by Title IV, Part B of
the HEA of 1965, as amended. Guaranty agencies use the GAFR to: (1)
request reinsurance from ED; (2) request payment on death,
disability, closed school, and false certification claim payments
to lenders; (3) remit to ED refunds on rehabilitated loans and
consolidation loans; (4) remit to ED default and wage garnishment
collections. ED also uses report data to monitor the guaranty
agency's financial activities (agency federal fund and agency
operating fund) and each agency's federal receivable
balance.
There is a small overall
increase in burden. This increase is being considered an overall
adjustment because although there is a slight reduction of 2
respondents, there is a reduction in responses because the annual
report is being eliminated now - when elimination of the annual
report should have been included in the calculations of the change
sheet from the previous collection. Additionally, the number of
hours to complete the reports was incorrectly stated at 50 hours in
the change sheet from the last submission. The hours to complete
the reports is being corrected back to the 55 burden hour figure as
it was in the last (2009) submission.
$884,152
No
No
No
No
No
Uncollected
Courtney Clemons
2023773673
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.
Guaranty Agency Financial Report
Att_Law_34CFR682.401.doc
Guaranty Agency Financial Report