ICRAS 1403 1845-0022 v9 – Affected Public – State, Local or Tribal Governments 9/27/2013
The Office of Management and Budget (OMB) Control Number 1845-0022 is expiring. This collection contains sections of the regulations at 34 CFR Part 668 – Student Assistance General Provisions. The regulations establish the standards to participate in the student financial aid assistance programs authorized by Title IV of the Higher Education Act of 1965, (HEA), as amended. These regulations establish institutional requirements in various areas of program administration. These regulations are an effort to minimize administrative burden for program participants, provide benefits to eligible Title IV, HEA program recipients, and protect the taxpayers' interest from fraud and abuse of program funds.
Subpart A – General
34 CFR 668.3 – Academic year
This section describes the requirements for an academic year for programs of study that will be eligible for Federal student aid. It also provides definitions of terms and a method for requesting relief from the Secretary from the requirements of the academic year definition.
Respondents Responses Hours
Public institutions
4,312 8,071 2,160
34 CFR 668.8 – Eligible program
This section defines the manner in which a program can be eligible to participate in the Federal student aid programs as determined by the type and control of the institution. It also provides the method of calculating completion and placement rates for programs as well as additional program and institutional requirements.
Respondents Responses Hours
Public institutions
4,312 8,071 6,779
Subpart B – Standards for Participation in Title IV, HEA Programs
34 CFR 668.13 – Certification procedures
This section defines the requirements for certification for institutions to participate in Federal student aid programs, the period that an institution may be eligible to participate, eligibility for provisional certification and for the revocation of eligibility.
Respondents Responses Hours
Public institutions
4,312 8,071 11
34 CFR 668.14 – Program participation agreement
This section specifies the requirements and agreements made between the Secretary and an institution to participate in Federal student aid programs.
Respondents Responses Hours
Public institutions
4,312 8,071 33,581
34 CFR 668.15 – Factors of financial responsibility
This section identifies how the institution must demonstrate it meets the standards of financial responsibility to participate in the Federal student aid programs, as well as the possible consequences of failing to meet the requirements.
Respondents Responses Hours
Public institutions
4,312 8,071 881
34 CFR 668.16 – Standards of administrative capability
This section identifies how the institution must demonstrate that it is administratively capable of participating in the Federal student aid programs, as well as the possible consequences of failing to meet the requirements.
Respondents Responses Hours
Public institutions
4,312 8,071 18,713
34 CFR 668.19 – Financial aid history
This section describes the steps the institution must take to ensure that Federal student aid program funds are only delivered to students who previously attended an eligible institution and continue to meet eligibility criteria by reviewing records made available by the Secretary.
Respondents Responses Hours
Public institutions
4,312 8,071 1,056
34 CFR 668.22 – Treatment of title IV finds when a student withdraws
This section describes the steps the institution must take in determining the eligibility of, and amount of Federal student aid a student who has withdrawn from all courses before the conclusion of the academic period may retain and what must be repaid by either the institution, the student, or both.
Respondents Responses Hours
Public institutions
4,321 8,095 152,001
34 CFR 668.23 – Compliance audits and audited financial statements
This section identifies who and how an institution must provide compliance audits and financial statements to ensure that Federal student aid funds are being obtained and utilized consistent with the statute and the implementing regulations.
Respondents Responses Hours
Public institutions
4,312 8,071 3,946
34 CFR 668.24 – Record retention and examination
This section identifies the types of records that an institution must maintain to document its eligibility to participate in Federal student aid programs, the eligibility of specific institutional programs to participate in Federal student aid programs, its administration of those aid programs, its financial responsibility, and its delivery of Federal student aid to eligible students.
Respondents Responses Hours
Public institutions
4,312 8,071 287,591
34 CFR 668.25 – Contracts between an institution and a third-party servicer
This section establishes minimum requirements for contracts between an institution and any third-party that it contracts with to perform any aspect of the administration of the programs that would normally be performed by the institution.
Respondents Responses Hours
Public institutions
4,312 8,071 1,800
34 CFR 668.26 – End of an institution’s participation in the Title IV, HEA programs
This section identifies the circumstances and requirements of an institution that closes, ceases to provide instruction or loses its eligibility to participate in Federal student aid programs.
Respondents Responses Hours
Public institutions
4,312 8,071 432
Subpart D – Institutional and Financial Assistance Information for Students
34 CFR 668.42 – Financial assistance information
This section identifies the types and manner of information about Federal student aid available at the institution that must be disclosed to various parties who may participate in Federal student aid programs at the institution.
Respondents Responses Hours
Public institutions
4,312 8,071 10,710
34 CFR 668.43 – Institutional information
This section identifies the types and manner of information about various aspects of the institution that must be disclosed to parties who are or may wish to enroll in programs at the institution.
Respondents Responses Hours
Public institutions
4,312 8,071 26,840
34 CFR 668.46 – Institutional security policies and crime statistics
This section identifies the types and manner of information about security policies and procedures as well as statistics of the types of crimes that took place at the institution that must be disclosed to parties who are or may wish to enroll in programs at the institution.
Respondents Responses Hours
Public institutions
4,312 8,071 96,440
Subpart G – Fine, Limitation, Suspension and Termination Proceedings
34 CFR 668.90 – Initial and final decisions
This section provides for an institution’s and a third-party servicer’s appeal, in writing to the Secretary, of a hearing official’s initial decision of a fine, limitation, suspension or termination hearing.
Respondents Responses Hours
Public institutions
4,312 8,071 1,820
34 CFR 668.96 – Reinstatement after termination
This section stipulates the procedures that an institution or third-party servicer, whose participation in Federal student aid programs has been terminated, must follow to be reinstated as a participating institution or third-party servicer.
Respondents Responses Hours
Public institutions
4,312 8,071 274
Subpart H – Appeal Procedures for Audit Determinations and Program Review Determination
34 CFR 668.113 – Request for review
This section stipulated the procedures that an institution or third-party servicer must follow to request a review by the Secretary of a final audit or final program review determination.
Respondents Responses Hours
Public institutions
4,312 8,071 86
Subpart L – Financial Responsibility
34 CFR 668.171 – General
This section describes the general standards institutions must meet to demonstrate it is financially responsible to participate in the Federal student aid programs.
Respondents Responses Hours
Public institutions
4,312 8,071 199
34 CFR 668.172 – Financial ratios
This section describes the method used to calculate the institution’s composite score.
Respondents Responses Hours
Public institutions
4,312 8,071 199
34 CFR 668.173 – Refund reserve standards
This section describes the method used to determine if an institution has sufficient cash reserves to meet the requirements for the timely return of Federal student aid program funds.
Respondents Responses Hours
Public institutions
4,312 8,071 199
34 CFR 668.174 – Past performance
This section describes how an institution’s past performance, or that of a person affiliated with the institution, will affect its ability to meet the general financial responsibility requirements to participate in the Federal student aid programs
Respondents Responses Hours
Public institutions
4,312 8,071 199
34 CFR 668.175 – Alternative standards and requirements
This section describes how an institution that is not financially responsible under the general standards may begin or continue to participate in the Federal student aid programs under the alternate standards of letters of credit or zone alternatives.
Respondents Responses Hours
Public institutions
4,312 8,071 199
Subpart M – Two Year Cohort Default Rates
34 CFR 668.181 – Purpose of this subpart
This section describes the uses of the calculated cohort default rate for an institution.
Respondents Responses Hours
Public institutions
4,312 8,071 510
34 CFR 668.182 – Definitions of terms used in this subpart
This section describes the terms used in relation to the calculation of the cohort default rate for an institution.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.183 – Calculating and applying cohort default rates
This section describes the methods used to identify the borrowers in repayment and in default, who are included in a specific cohort.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.184 – Determining cohort default rates for institutions that have undergone a change in status
This section describes the methods used to establish a cohort default rate for institutions that have undergone acquisition or merged, those who have acquired branches or additional locations, and those branches or locations that became freestanding.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.185 – Draft cohort default rates and your ability to challenge before official cohort default rates are issued.
This section discusses how an institution will receive draft cohort default rates and the methods that can be used to challenge the rate prior to official rates being calculated and released.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.186 – Notice of your official cohort default rate
This section describes how institutions will receive official cohort default rates and provides the timeframe for submitting challenges to the data.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.187 – Consequences of cohort default rates on your ability to participate in Title IV, HEA programs
This section discusses how an institution that loses its eligibility to participate in specific Federal student aid programs and how an institution may regain its eligibility.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.188 – Preventing evasion of the consequences of cohort default rates
This section discusses how institutions may be affected by the loss of eligibility at another institution under common ownership or management.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.189 – General requirements for adjusting official cohort default rates and for appealing their consequences
This section describes how institutions may request adjustments to or appeal their official cohort default rate.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.190 – Uncorrected data adjustments
This section describes the eligibility to raise this defense to correct an official cohort default rate.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.191 – New data adjustments
This section describes the eligibility to raise this defense to correct an official cohort default rate.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.192 – Erroneous data appeals
This section describes the eligibility to raise this defense to correct an official cohort default rate.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.193 – Loan servicing appeals
This section describes the eligibility to raise this defense to correct an official cohort
default rate.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.194 – Economically disadvantaged appeals
This section describes the eligibility to raise this defense to correct an official cohort default rate.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.195 – Participation rate index appeals
This section describes the eligibility to raise this defense to correct an official cohort default rate.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.196 – Average rate appeals
This section describes the eligibility to raise this defense to correct an official cohort default rate.
Respondents Responses Hours
Public institutions
4,312 8,071 524
34 CFR 668.197 – Thirty-or-fewer borrower appeals
This section describes the eligibility to raise this defense to correct an official cohort default rate.
Respondents Responses Hours
Public institutions
4,312 8,071 524
TOTALS
Responses 322,864
Respondents 172,489
Burden Hours 655,024
| File Type | application/msword |
| Author | Beth Grebeldinger |
| Last Modified By | Beth Grebeldinger |
| File Modified | 2013-10-22 |
| File Created | 2013-10-22 |