ICRAS 1401 1845-0020 v12 – Affected Public – State, Local or Tribal Governments 09/16/2013
The Department is requesting a revision of the current information collection. The final Federal Family Education Loan (FFEL) Program regulations revise the current regulations for program administration as described.
First, the final regulations indicate the regulatory changes made in the provisions related to forbearance, reasonable and affordable loan rehabilitation, and administrative wage garnishment along with the associated changes in burden.
Additionally, 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.
Both of these circumstances require a change in the current burden hours.
Establishing average burden hours
Considerable burden reduction was achieved by the elimination of the regulations associated with the end of the authorization to make new FFEL program loans. Unlike other newly final regulations where the resultant final regulation would either increase or decrease burden as a result of the change in regulation, this expansive effort to eliminate the unneeded regulations includes more wholesale changes being madeto 34 CFR 682. As a result, the entire history of burden associated with OMB 1845-0020 was examined. While the burden assessments for OMB 1845-0020 stretch back over 13 years, the necessary level of detail does not exist to disaggregate the currently approved amount of burden in this collection into its corresponding subsections of 34 CFR 682.
The specific number of respondents from the affected entities is unavailable; therefore we are projecting the number of respondents and responses, as well as projecting the proportion of the burden hours for each of the affected entities based upon the number of borrowers per affected entity.
Therefore, a new methodology to calculate burden is required. We are able to establish that there are 38 subsections of 34 CFR 682 that have burden under OMB 1845-0020. We have divided the total of the currently approved burden hours of 12,352,197 hours by the 38 affected subsections which on average yields 325,058 hours per affected subsection. Public lenders had .02 percent of the FFEL borrowers for the most recently completed year’s data, therefore we estimate that there are 65 hours of burden (325,058 multiplied by .0002) associated with public lenders.
We estimate that of the currently approved 25,347,555 respondents spread across 38 subsections of 34 CFR 682 that have burden in OMB 1845-0020, there is an average of 667,041 respondents per subsection (25,347,555 divided by 38). Public lenders had .02 percent of the FFEL borrowers for the most recently completed year’s data, therefore we estimate that there are 133 respondents (667,041 multiplied by .0002) associated with public FFEL lenders.
We estimated the number of responses using the same basis for our estimation of respondents. We estimate that of the currently approved 25,347,555 responses spread across 38 subsections of 34 CFR 682 that have burden in OMB 1845-0020, there is an average of 667,401 responses per subsection (25,347,555 divided by 38). Public lenders had .02 percent of the FFEL borrowers for the most recently completed year’s data, therefore we estimate that there are 133 responses (667,401 multiplied by .0002).
Section 682.102 - Repaying a loan.
The final regulations would amend the section heading, remove §§682.102(a)-(d), which describes the application process for Stafford, PLUS, and Consolidation loans, and re-designate the paragraphs in current §682.102(e), which describes the loan repayment process, as §682.102(a)-(g).
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.200 - Definitions - Lender.
The final regulations would remove the provisions of current §682.601(a)(3), (a)(5), and (a)(7), and place these provisions into paragraph (8) of the definition of “Lender” in §682.200(b) to §682.200.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.205 - Disclosure Requirements for Lenders.
The final regulations would remove §682.205(a) – the initial disclosure statement, (b) – statement of borrower rights and responsibilities, (g) – plain language disclosure, and (i) –separate disclosure for Consolidation loans, from the FFEL regulations and renumber the remaining provisions. The remaining provisions include providing repayment information, providing required disclosures during the repayment period, and providing required disclosures for borrowers having difficulty making payments.
The final changes would decrease the required burden under OMB Control Number 1845-0020.
Respondents: 66 Responses: 66 Hours: 32
Section 682.206 - Due Diligence in making a loan.
The final regulations would remove §682.206 from the FFEL regulations. The SAFRA Act eliminated the authority to make new FFEL program loans, including FFEL consolidation loans. As a result, the requirements governing the making of new FFEL program loans are no longer needed and the previous burden associated with the making of a loan by a lender would be removed.
The final change would remove all of the prior assessment of burden associated under OMB Control Number 1845-0020. The number of respondents and number of responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
Section 682.208 - Due diligence in servicing a loan.
The final regulations would replace the term “national credit bureau(s)” with “nationwide consumer reporting agency(ies)” to more accurately reflect the reporting requirements.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.209 - Repayment of a loan.
The final regulations would amend §682.209(a)(3)(i) by adding a new paragraph which specifies that borrowers with fixed interest rates on their Stafford loans enter repayment on those loans the day after six months following the date the borrower was no longer enrolled on at least a half-time basis. The final regulations would remove current §§682.209(e)-(g) and (j) from the regulations and re-designate the remaining paragraphs as paragraphs (e)-(g). Re-designated §682.209(e) (current paragraph (h)) would be amended to specify that a FFEL Consolidation borrower repaying under the income-based repayment plan may make a scheduled monthly payment of less than the interest that accrues on the loan.
The final changes would decrease the burden under OMB Control Number 1845-0020.
Respondents: 107 Responses: 107 Hours: 52
Section 682.210 - Deferment.
The final regulations would amend §682.210(a)(4) of the general provisions section of the deferment regulations to provide that a borrower’s representative may request a military service deferment on behalf of the borrower. In §682.210(b), the introductory language in paragraphs (b)(1) through (6) of §682.210 would be revised to identify the cohort of borrowers to which each paragraph applies. Throughout §682.210(b) cross-references would be added to the eligibility criteria that are applicable to deferments available to these borrowers. The final regulations also amend §682.210(s)(2) by removing the exception clause at the end of the provision, and §682.210(u)(5) by replacing the words “military active” with the word “post-active”.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Sections 682.211 – Forbearance
The final regulations amend the current FFELP regulations to authorize a lender to grant forbearance to a borrower or endorser who is in default on a loan, but prior to default claim payment, based on the borrower’s or endorser’s oral request. The final regulations provide that a forbearance agreement in this situation must include a new agreement to repay the debt signed by the borrower or endorser (as required under the current regulations), or a written or oral affirmation of the borrower’s or endorser’s obligation to repay the debt. The final regulations define “affirmation” for this purpose to be an acknowledgment of the loan by the borrower or endorser in a legally binding manner that can take the form of: 1) a new signed repayment agreement or schedule, or another form of signed agreement to repay the debt (as under current regulations), or 2) an oral acknowledgment and agreement to repay the debt that is documented by the lender in the borrower’s or endorser’s file and confirmed by the lender in a notice to the borrower; or 3) a payment made on the loan by the borrower or endorser.
The final regulations also specify that if a forbearance in this situation is based on the borrower’s or endorser’s oral request and affirmation, the lender must orally review with the borrower the terms and conditions of the forbearance, and that the lender must send the borrower or endorser a notice that confirms the terms of the forbearance and the borrower’s or endorser’s affirmation of the obligation to repay the debt within 30 days of that agreement. The final regulations require the lender to retain a record of the terms and conditions of the forbearance and affirmation in the borrower’s or endorser’s file.
The changes would increase the burden assessment under OMB Control Number 1845-0020.
Respondents: 135 Responses: 135 Hours: 65
Section 682.212 - Prohibited transactions.
There is no change to the current language in this section of the regulations, however the current burden referenced in OMB Control Number 1845-0020 is incorrect.
We propose removal of the prior burden assessment under OMB Control Number 1845-0020, therefore burden would decrease for a total of 0 hours.
Respondents: 0 Responses: 0 Hours: 0
Section 682.214 - Compliance with equal credit opportunity requirements.
The final regulations would remove §682.214 from the FFEL regulations. The SAFRA Act ended the making of new FFEL loans and therefore these requirements can be eliminated from the FFEL regulations.
The final change would remove the prior burden assessment under OMB Control Number 1845-0020, therefore burden would decrease for a total of 0 hours. The number of respondents and the number of responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
Section 682.216 - Teacher loan forgiveness program.
The final regulations provide for minor language changes.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.301 - Eligibility of borrowers for interest benefits on Stafford and Consolidation Loans.
The final regulations would remove §682.301(c) from the regulations. The SAFRA Act ended the making of new FFEL loans and this provision related to determining borrower eligibility for the interest subsidy on new loans would be eliminated.
The final change would remove the prior burden assessment under OMB Control Number 1845-0020, therefore burden would decrease for a total of 0 hours. The number of respondents and the number of responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
Section 682.305 - Procedures for payment of interest benefits and special allowance and collection of origination and loan fees.
Section 682.305(c)(1)(ii) specifies that, regardless of the dollar volume of loans originated or held, a school lender or an eligible lender serving as trustee for a school or school-affiliated organization originating FFEL loans as a lender must submit an independent compliance audit to the Department each year. The final regulations would remove the reference to FFEL lenders originating loans. The final regulations would also remove the language specifying that a school and lender serving as a trustee for a school must submit an independent compliance audit to the Department each year.
The number of school lenders or lenders serving as a trustee on behalf of a school or a school affiliated organization whose purpose is to originate loans for whom the final regulations provide relief is so small as to not be substantive. As a result, these final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.401 - Basic Program Agreement.
The final regulations would remove from §682.401 language which addresses new loan originations, the process supporting loan origination, and a guaranty agency’s efforts to secure new loan volume. These provisions can be eliminated from the FFEL regulations because no new FFEL loans are being made. The remaining provisions final for elimination relate to school eligibility to participate in a guaranty agency’s program and the authority of an agency to limit, suspend, or terminate a school from its program. For purposes of new loans, schools now participate only in the Direct Loan Program. Any future actions to limit, suspend, or terminate a school’s participation in the student loan programs would be undertaken by the Department under 34 CFR part 668, subpart G. Therefore, §682.401(b)(6) can also be eliminated from the FFEL regulations.
The final changes would decrease the burden under OMB Control Number 1845-0020.
Respondents: 120 Responses: 120 Hours: 58
Section 682.402 - Death, disability, closed school, false certification, unpaid refunds, and bankruptcy payments.
We have determined that the total increase in burden it 54 hours and are non-substantive and therefore will submit a simple change form (Form 83C) under OMB 1845-0015. There were no further changes to this section that impacted the burden under OMB 1845-0020.
As a result, the prior burden assessment under OMB Control Number 1845-0020 would not be altered.
Respondents: 133 Responses: 133 Hours: 65
Section 682.404 - Federal reinsurance agreement.
The final regulations would make conforming language changes required due to the elimination of previous cross references or obsolete requirements.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.405 - Loan rehabilitation agreement.
The final regulations would add new §682.405(b)(1)(iii) to provide that the guaranty agency would base the determination of reasonable and affordable rehabilitation payment amounts on information provided by the borrower on a form approved by the Secretary, and, if requested, supporting documentation provided by the borrower.
Final §682.405(b)(1)(iii)(A) would provide that the guaranty agency will consider the borrower's and, if applicable, the borrower’s spouse's current disposable income in determining a reasonable and affordable rehabilitation payment. Under final § 682.405(b)(1)(iii)(A), spousal income would not be considered if the spouse does not contribute to the borrower’s household income.
Final § 682.405(b)(1)(iii)(B) would provide that, in determining the reasonable and affordable payment amount, the guaranty agency will consider the borrower’s family size, as defined in §682.215(a)(3).
Under final § 682.405(b)(1)(v), the guaranty agency would provide the borrower with a written rehabilitation agreement within 15 business days of the determination of the borrower’s reasonable and affordable payment amount. The written rehabilitation agreement would include the rehabilitation payment amount, a prominent statement that the borrower may object orally or in writing to the payment amount, and the method and timeframe for raising an objection to the payment amount. The written rehabilitation agreement would provide an explanation of any other terms and conditions applicable to the required series of payments. The guaranty agency may not impose any other conditions unrelated to the amount or timing of the rehabilitation payments in the rehabilitation agreement. The written rehabilitation agreement would inform the borrower of the effects of having a loan rehabilitated. For FFEL Program loans, the written repayment agreement would inform the borrower of the amount of any unpaid collection costs to be added to the unpaid principal of the loan when the loan is sold to an eligible FFEL lender.
Final § 682.405(b)(1)(vi) would provide that the borrower’s rehabilitation payment amount would be recalculated if the borrower objects to the payment amount contained in the written repayment agreement that the guaranty agency would send to the borrower under final § 682.405(b)(1)(vi).
Under § 682.405(b)(1)(vii) a borrower who objects to the monthly repayment amount contained in the written repayment agreement would provide guaranty agency the documentation needed to recalculate a monthly payment amount under the IBR formula. The guaranty agency would recalculate the rehabilitation payment amount using the formula for calculating a monthly payment amount under the IBR plan in §682.215(b)(1) of the FFEL regulations. If the recalculated amount using the IBR plan formula is less than $5, the borrower’s recalculated monthly rehabilitation payment would be $5. If the borrower does not provide the required documentation to the guaranty agency, the guaranty agency would not proceed with the rehabilitation process.
Final §682.405(b)(1)(vi) would require a guaranty agency to recalculate the borrower’s rehabilitation payment amount if the borrower objects to the payment amount contained in the written repayment agreement that the guaranty agency sent to the borrower.
Final §682.405(b)(1)(vii)would require a borrower who objects to the monthly repayment amount contained in the written repayment agreement to provide the guaranty agency the documentation needed to calculate a monthly payment amount under the income-based repayment plan formula. If the borrower does not provide this information to the guaranty agency no rehabilitation agreement would exist with the borrower, and the guaranty agency would not proceed with the rehabilitation.
Final §682.405(b)(1)(ix) and 685.211(f)(7) would require the Secretary or the guaranty agency, upon the borrower’s request, to adjust the borrower’s monthly rehabilitation payment due to a change in the borrower’s financial circumstances. The borrower would be required to provide documentation supporting the request.
Collectively, the final changes in §682.405(a) and (b) would increase burden OMB Control Number 1845-0020.
The substantive changes would be in addition to the previous burden assessment under OMB Control Number 1845-0020.
Respondents: 69,112 Responses: 69,112 Hours: 45,019
Section 682.406 - Conditions for claim payments from the Federal Fund and for reinsurance coverage.
The final regulations would make a minor wording change due to the elimination of previous cross references and add an ending date coinciding with the implementation of the SAFRA Act, which allowed for no new FFEL loans to be made.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.409 - Mandatory assignment by guaranty agencies of defaulted loans to the Secretary.
The final regulations would make no changes to this section of the regulations.
These final regulations would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.410 - Fiscal, administrative, and enforcement requirements.
The final regulations add new §682.405(a)(3)(i) to the FFEL Program regulations requiring a guaranty agency, to suspend collecting on a defaulted loan through Administrative Wage Garnishment (AWG) after the borrower makes five qualifying payments under a loan rehabilitation agreement unless precluded by §682.410(b)(9)
The final regulations add §682.405(b)(1)(iii) requiring a guaranty agency (in the FFEL Program) to first offer a reasonable and affordable loan rehabilitation payment amount on a defaulted loan as determined using the income-based repayment (IBR) formula based upon information submitted by the borrower on adjusted gross income (AGI) and the borrower’s household size.
Section 682.405(b)(1)(iii) provides that, in determining the reasonable and affordable payment amount, the guaranty agency considers the borrower’s family size, as defined in §682.215(a)(3).
If, under §682.405(b)(1)(iii), the recalculated amount is less than $5, the borrower’s recalculated monthly rehabilitation payment would be $5. Consistent with §682.405(b)(1)(iv), if subsequent to the borrower’s oral agreement for loan rehabilitation, the borrower does not provide the required documentation to the guaranty agency, the rehabilitation agreement is null and void.
Under §682.405(b)(1)(vi), the guaranty agency provides the borrower with a written rehabilitation agreement within 15 business days of the determination of the borrower’s reasonable and affordable payment amount. The written rehabilitation agreement would include the rehabilitation payment amount, a prominent statement that the borrower may object orally or in writing to the payment amount, and the method and timeframe for raising an objection to the payment amount. The written rehabilitation agreement would provide an explanation of any other terms and conditions applicable to the required series of payments. The guaranty agency may not impose any other conditions unrelated to the amount or timing of the rehabilitation payments in the rehabilitation agreement. The written rehabilitation agreement informs the borrower of the effects of having a loan rehabilitated. For FFEL Program loans, the written repayment agreement informs the borrower of the amount of any unpaid collection costs to be added to the unpaid principal of the loan when the loan is sold to an eligible FFEL lender.
Section 682.405(b)(1)(vii) provides that the borrower’s rehabilitation payment amount would be recalculated if the borrower objects to the payment amount contained in the written repayment agreement that the guaranty agency would send to the borrower under § 682.405(b)(1)(vii).
Under §682.405(b)(1)(vii) a borrower who objects to the monthly repayment amount contained in the written repayment agreement provides the guaranty agency the documentation needed to recalculate a monthly payment amount based solely on information provided on a form approved by the Secretary and, if requested, supporting documentation from the borrower and other sources. The guaranty agency would recalculate the rehabilitation payment amount.
Under §682.405(b)(1)(x), a borrower may request that the guaranty agency adjust the borrower’s monthly rehabilitation payment if there is a change in the borrower’s financial circumstances.
Under §682.405(b)(1)(vi), the written rehabilitation agreement provides that the borrower may object orally or in writing to the payment amount contained in the written repayment agreement that the guaranty agency sent to the borrower based on the IBR calculation.
Section 682.405(b)(1)(vii)requires a borrower who objects to the monthly repayment amount contained in the written repayment agreement based on the IBR formula to provide the guaranty agency the information needed to calculate a monthly payment amount by completing the reasonable and affordable rehabilitation payment form. If the borrower does not provide this information to the guaranty agency or the Secretary, no rehabilitation agreement would exist with the borrower, and the guaranty agency or the Secretary will not proceed with the rehabilitation.
Sections 682.405(b)(1)(x) requires the Secretary or the guaranty agency, upon the borrower’s request, to adjust the borrower’s monthly rehabilitation payment due to a change in the borrower’s financial circumstances. The borrower will be required to provide documentation supporting the request.
Respondents: 93,698 Responses: 93,698 Hours: 30,410
Section 682.411 - Lender due diligence in collecting guaranty agency loans.
The final regulations would make a minor wording change.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.412 - Consequences of the failure of a borrower or student to establish eligibility.
The final regulations would make a minor wording change.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.414 - Records, reports, and inspection requirements for guaranty agency programs.
The final regulations would make a minor wording change. The final changes would decrease the previous burden assessment; therefore the current burden would decrease under OMB Control Number 1845-0020.
Respondents: 127 Responses: 127 Hours: 62
Section 682.417 - Determination of Federal funds or assets to be returned.
The final regulations make no changes to this section of the regulations.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.418 - Prohibited uses of the assets of the Operating Fund during periods in which the Operating Fund contains transferred funds owed to the Federal Fund.
The final regulations would remove §682.418 from the FFEL regulations.
The final change would remove all of the prior burden assessment under OMB Control Number 1845-0020.The number of respondents and responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
Section 682.421 - Funds transferred from the Federal Fund to the Operating Fund by a guaranty agency.
The final regulations would remove §682.421 from the FFEL regulations.
The final change would remove the prior burden assessment under OMB Control Number 1845-0020. The number of respondents and the number of responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
Section 682.507 - Due diligence in collecting a loan.
The final regulations would remove all of the regulations under subpart E (§§682.500 through 682.515) and reserve the subpart. The final regulations would also remove FISL-related Appendix C to part 682 from the regulations.
The final change would remove the prior burden assessment under OMB Control Number 1845-0020. The number of respondents and responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
Section 682.508 - Assignment of a loan.
The final regulations would remove all of the regulations under subpart E (§§682.500 through 682.515) and reserve the subpart. The final regulations would also remove FISL-related Appendix C to part 682 from the regulations.
The final change would remove the prior burden assessment under OMB Control Number 1845-0020. The number of respondents and responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
Section 682.511 - Procedures for filing a claim.
The final regulations would remove all of the regulations under subpart E (§§682.500 through 682.515) and reserve the subpart. The final regulations would also remove FISL-related Appendix C to part 682 from the regulations.
The final change would remove the prior burden assessment under OMB Control Number 1845-0020. The number of respondents and responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
Section 682.515 - Records, reports, and inspection requirements for Federal GSL program lenders
The final regulations would remove all of the regulations under subpart E (§§682.500 through 682.515) and reserve the subpart. The final regulations would also remove FISL-related Appendix C to part 682 from the regulations.
The final change would remove the prior burden assessment under OMB Control Number 1845-0020. The number of respondents and responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
Section 682.602 - Rules for a school or school-affiliated organization that makes or originates loans through an eligible lender trustee.
The final regulations would remove §682.602 from the FFEL regulations.
The final change would remove the prior burden assessment under OMB Control Number 1845-0020. The number of respondents and responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
Section 682.603 - Certification by a school that participated in connection with a loan application
The final regulations would make conforming language changes required due to the elimination of a cross reference and reorganization due to a deletion of previous requirements.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.604 - Processing the borrower’s loan proceeds and counseling borrowers (Required exit counseling for borrowers).
The final regulations would change the heading of §682.604, remove current paragraph (a), remove and reserve paragraph (b), and remove paragraphs (c)-(f) and (h). The final regulations would also re-designate current paragraph (g) as paragraph (a). Newly redesignated §682.604(a)(1) would be amended to include another option for providing exit counseling to a student borrower who withdraws without the school’s knowledge or fails to complete required exit counseling. In addition to the existing options described under “Current Regulations,” a school could also send written counseling materials to an e-mail address provided by the student borrower. Newly redesignated §682.604(a)(2) would be amended by replacing cross-references to current paragraph (a), which we are proposing to remove, with the substantive information contained in the cross-referenced provision that must be included in the counseling. A new paragraph (a)(5) would also be added to newly redesignated §682.604(a) to clarify that: (1) a school’s compliance with the Direct Loan Program exit counseling requirements in 34 CFR 685.304(b) satisfies the FFEL regulatory exit counseling requirements for student borrowers who received both FFEL and Direct Loan program loans for attendance at the school if the school provides the information required by §682.604(a)(2)(i) and (a)(2)(ii); and (2) a student’s completion of interactive exit counseling offered by the Secretary meets both the FFEL exit counseling requirements and the Direct Loan exit counseling requirements in 34 CFR 685.304(b).
The final changes would decrease the previous burden assessment under OMB Control Number 1845-0020.
Respondents: 47 Responses: 47 Hours: 23
Section 682.605 - Determining the date of a student’s withdrawal.
The regulatory language in this section has not changed.
These final regulations would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.610 - Administrative and fiscal requirements for schools that participated.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.711 - Reinstatement after termination.
The final regulations remove the language regarding the loss of a school lender’s participation upon the loss of the school’s eligibility to participate in Title IV, Federal Student Assistance.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.712 - Disqualification review of limitation, suspension, and termination actions taken by guarantee agencies against lenders.
The final regulations would remove a cross-reference to a section final for deletion.
These final changes would not alter the prior burden assessment under OMB Control Number 1845-0020.
Respondents: 133 Responses: 133 Hours: 65
Section 682.713 Disqualification review of limitation, suspension, and termination actions taken by guaranty agencies against a school.
The final regulations would remove §682.713 from the FFEL regulations.
The final change would remove the prior burden assessment under OMB Control Number 1845-0020. The number of respondents and the number responses are also reduced to zero.
Respondents: 0 Responses: 0 Hours: 0
TOTALS
Responses 165,806
Respondents 165,806
Burden Hours 76,891
| File Type | application/msword |
| Author | Beth Grebeldinger |
| Last Modified By | U.S. Dept. of Education |
| File Modified | 2013-09-17 |
| File Created | 2013-09-17 |