The Federal Family Educational Loan
(FFEL) Program final regulations revise the current regulations for
program administration as described below. Initially, the
regulations indicate the regulatory changes and the associated
changes in burden. Subsequently, we describe a series of final
regulatory changes that removes unneeded FFEL regulations that are
no longer required as a result of the Student Aid and Fiscal
Responsibility (SAFRA) ACT that was included in the Health Care and
Reconciliation Act of 2010 (HCERA), which as of July 1, 2010,
terminated the authority for lenders to make new loans under the
FFEL program.
US Code:
20 USC 1071, et.al Name of Law: Higher Education Act of 1965,
as amended
US Code: 20 USC 1071 et.al. Name of Law:
Higher Education Act of 1965, as amended
The Department is requesting a
revision of the current FFEL Program information collection under
OMB 1845-0020 to reflect the statutory and regulatory changes to
the program. The final regulations modify forbearance provisions,
reasonable and affordable loan rehabilitation processes, and a
number of provisions affecting administrative wage garnishment
provisions. Substantial changes would be made to the repeal of
unneeded FFEL regulations in 34 CFR 682 as a result of the Student
Aid and Fiscal Responsibility (SAFRA) Act that was included in the
Health Care and Reconciliation Act of 2010 (HCERA) which, as of
July 1, 2010, terminated the authority for lenders to make new
loans under the FFEL program. There is an overall reduction of
4,131,565 in burden hours from the current collection.
$0
No
No
No
No
No
Uncollected
Dan Klock 202 377-4026
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.