Section 601.40 - Lender Responsibilities

Part 601 Preferred Lender Arrangements

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Section 601.40 - Lender Responsibilities

OMB: 1845-0101

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OMB.1845.XXXA.v.1 Table.12.18.09





Respondent Type Requirement # of Respondents # of Responses Hours/Response Total Hours Description
Section A: Burden by Affected Entity






Federal Government












Individuals or Households





Borrowers 34 CFR 601.10 1,900,608 1,900,608 0.17 323,103
Borrowers 34 CFR 601.11 3,333,600 3,333,600 0.25 833,400 NOTE: Burden associated with the completion of the Private Education Loan Self-Certification form OMB 1845-XXXA
Borrowers 34 CFR 601.40 3,666,960 3,666,960 0.08 293,357







Sub-total
8,901,168 8,901,168
1,449,860







Private Sector





Business or other for-profits





Institutions - Proprietary-preferred lender lists 34 CFR 601.10 242 242
2,174
Institutions - Proprietary -adopt TILA form 34 CFR 601.11 88 88
351 NOTE: Burden associated with the completion of the Private Education Loan Self-Certification form OMB 1845-XXXA
Institutions - Proprietary -TILA disclosures 34 CFR 601.11 55,004 55,004
55,004 NOTE: Burden associated with the completion of the Private Education Loan Self-Certification form OMB 1845-XXXA
Institutions-Proprietary - Annual Report 34 CFR 601.20 67 67
17
Institutions - Proprietary-Code of Conduct 34 CFR 601.21 67 67
235
Lender Responsibility-TILA disclosures 34 CFR 601.40 3,666,960 3,666,960 0.17 623,383
Lender Responsibility- reasonable expense 34 CFR 601.40 884 884 0.33 292







Sub-total
3,723,312 3,723,312
681,456







Not-for profits





Institutions - Private 34 CFR 601.10 537 537
4,831
Institutions - Private-adopt TILA form 34 CFR 601.11 984 984
3,936 NOTE: Burden associated with the completion of the Private Education Loan Self-Certification form OMB 1845-XXXA
Institutions - Private-adopt TILA disclosures 34 CFR 601.11 616,049 616,049
616,049 NOTE: Burden associated with the completion of the Private Education Loan Self-Certification form OMB 1845-XXXA
Institutions - Private-Annual Report 34 CFR 601.20 752 752
188
Institutions - Private-Code of Conduct 34 CFR 601.21 752 752
2,630





















Sub-total
619,073 619,074
627,634







Farms












State, Local, or Tribal Governments





Institutions - Public 34 CFR 601.10 564 564
5,073
Institutions - Public-adopt TILA form 34 CFR 601.11 685 685
2,741 NOTE: Burden associated with the completion of the Private Education Loan Self-Certification form OMB 1845-XXXA
Institutions - Public-adopt TILA disclosures 34 CFR 601.11 429,034 429,034
429,034 NOTE: Burden associated with the completion of the Private Education Loan Self-Certification form OMB 1845-XXXA
Institutions - Public-Annual Report 34 CFR 601.20 523 523
131
Institutions - Public-Code of Conduct 34 CFR 601.21 523 523
1,832














Sub-total
431,330 431,330
438,811







Section B: Burden Impact Totals





Total
13,674,883 13,674,883 3,197,761







CURRENT INVENTORY





Current # of Respondents
0



Current # of Responses

0


Current Inventory of Hours



0







REVISED # OF RESPONDENTS
13,674,883



REVISED # OF RESPONSES

13,674,883


REVISED # OF BURDEN HOURS



3,197,761







TOTAL # RESPONDENTS
13,674,883



TOTAL # RESPONSES

13,674,883


TOTAL # HOURS



3,197,761







Difference



3,197,761







Section C: Burden by Regulation Group





1. 34 CFR 601.10 (TEAM 2 PRA Issue 1)





Individuals





Borrowers 34 CFR 601.10 1,900,608 1,900,608 0.17 323,103
Business or other for-profits





Institutions - Proprietary 34 CFR 601.10 242 242
2,174
Not-for profits





Institutions - Private 34 CFR 601.10 537 537
4,831
State, Local, or Tribal Governments





Institutions - Public 34 CFR 601.10 564 564
5,073







Sub-total for All Institutions
1,342 1,342
12,078







TOTAL for 34 CFR 601.10
1,901,950 1,901,950
335,181














2. Section 601.11 Private education loan disclosures and self-certification form





34 CFR 601.11 (TEAM 2 PRA Issue 2)





Individuals





Borrowers 34 CFR 601.11 3,333,600 3,333,600 0.25 833,400
Business or other for-profits





Institutions - Proprietary -adopt TILA form 34 CFR 601.11 88 88
351
Institutions - Proprietary -TILA disclosures 34 CFR 601.11 55,004 55,004
55,004
Not-for profits





Institutions - Private-adopt TILA form 34 CFR 601.11 984 984
3,936
Institutions - Private-adopt TILA disclosures 34 CFR 601.11 616,049 616,049
616,049
State, Local, or Tribal Governments





Institutions - Public-adopt TILA form 34 CFR 601.11 685 685
2,741
Institutions - Public-adopt TILA disclosures 34 CFR 601.11 429,034 429,034
429,034







Sub-total for All Institutions
1,101,845 1,101,845
1,107,115







TOTAL for 34 CFR 601.11
4,435,445 4,435,445
1,940,515 NOTE: Burden associated with the completion of the Private Education Loan Self-Certification form OMB 1845-XXXA







3. 34 CFR 601.20 (TEAM 2 PRA Issue 3)





Individuals





Borrowers





Institutions-Proprietary - Annual Report 34 CFR 601.20 67 67
17
Not-for profits





Institutions - Private-Annual Report 34 CFR 601.20 752 752
188
State, Local, or Tribal Governments





Institutions - Public-Annual Report 34 CFR 601.20 523 523
131







Sub-total for All Institutions
1,342 1,342
336







TOTAL for 34 CFR 601.20
1,342 1,342
336







4. 34 CFR 601.21 (TEAM 2 PRA Issue 4)





Individuals





Borrowers





Business or other for-profits





Institutions - Proprietary-Code of Conduct 34 CFR 601.21 67 67
235
Not-for profits





Institutions - Private-Code of Conduct 34 CFR 601.21 752 752
2,630
State, Local, or Tribal Governments





Institutions - Public-Code of Conduct 34 CFR 601.21 523 523
1,832







Sub-total for All Institutions
1,342 1,342
4,697







TOTAL for 34 CFR 601.21
1,342 1,342
4,697







5. 34 CFR 601.40 9TEAM 2 PRA Issue 6)





Individuals





Borrowers 34 CFR 601.40 3,666,960 3,666,960 0.08 293,357
Business or other for-profits





Lender Responsibility - reasonable expense 34 CFR 601.40 884 884 0.33 292
Lender Responsibility - TILA disclosures 34 CFR 601.40 3,666,960 3,666,960 0.17 623,383







Not-for profits





Institutions - Private-Lender Responsibility 34 CFR 601.40




State, Local, or Tribal Governments





Institutions - Public-Lender Responsbility 34 CFR 601.40











Sub-total for Lenders
3,667,844 3,667,844
623,675







TOTAL for 34 CFR 601.40
7,334,804 7,334,804
917,032
GRAND TOTAL
13,674,883 13,674,883
3,197,761






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