This is a request for an extension of the approved recordkeeping requirements contained in the regulations related to the administrative requirements of the Federal Family Education Loan (FFEL) program. Effective August 14, 2008, upon a holder's receipt of a written request from a borrower and a copy of the borrower's military orders, the regulations at 34 CFR 682.202(a)(8) provide that the maximum interest (as defined in 50 U.S.C. 527, App. Section 207(d)) that may be charged on FFEL loans made prior to the borrower entering active duty status is six percent while the borrower is on active duty status.
US Code:
20 USC 1087-1
Name of Law: Higher Education Act of 1965, as amended
US Code:
20 USC 1078
Name of Law: Higher Education Act of 1965, as amended
The Department is requesting an extension of this information collection. The regulations requiring this collection are still in place without change. There has been an overall decrease in burden under these regulations, as there are fewer holders of Federal Family Education Loans (FFEL) due to the statutory change eliminating the origination of new FFEL loans. The overall decrease in burden is 1,419.
$0
No
No
No
No
No
Uncollected
Beth Grebeldinger 202 708-8242
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.