The Health Education Assistance Loan
(HEAL) Program regulatory requirements for reporting,
recordkeeping, and notification are approved under OMB
No.0915-0108. The HEAL program provided federally insured loans to
students in schools for certain health professions. These
reporting, notification, and recordkeeping requirements insure that
the lenders, holders, and schools participating in the HEAL program
follow sound management procedures in the administration of
Federally-insured student loans. The basic purpose of the program
was to assure the availablity of funds for loans to eligible
students who needed to borrow money to pay for their educational
costs.
US Code:
42
USC 292 Name of Law: Health Professions Education, Student
Loans
The number of HEAL holders
increased by two in the past three years. However, over the past
ten years, the number of holders participating in HEAL has
decreased steadily, because; 1) new original loans were not
authorized after September 30, 1998; 2) loans are being sold from
originating holders (many have terminated from the HEAL Program) to
secondary markets; 3) loans are being paid off by the borrower; or
4) borrowers are refinancing out of the HEAL program. Most of the
burden changes under the holder category are due to the termination
of the HEAL insured refinancing activity on September 30, 2004 and
reduction in the number of borrowers with outstanding HEAL loans
from $2.5 billion in FY 2003 to $1.4 billion in FY 2006.
$3,716
No
No
No
No
No
Uncollected
Jodi Duckhorn 301
443-1984
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.
2013-OMB 0108-SS.doc
Health Education Assistance Loan (HEAL) Program Recordkeeping Requirements