Financial Disclosure for Reasonable and Affordable Rehabilitation Payments Form

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 1845-0000 Financial Disclosure for Reasonable and Affordable Rehabilitation Payments Form	Form and Instruction	Modified	Available
Supp_Statement_RAAR_form_1_27_14_final[1].docx	Supporting Statement A	Uploaded 2014-02-20	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
207947	Financial Disclosure for Reasonable and Affordable Rehabilitation Payments Form	Form and Instruction	Modified

ICR Details

OMB Control No: 1845-0120	ICR Reference No: 201402-1845-005
Status: Historical Active	Previous ICR Reference No: 201307-1845-006
Agency/Subagency: ED/FSA	Agency Tracking No: 1981.02
Title: Financial Disclosure for Reasonable and Affordable Rehabilitation Payments Form
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/25/2014
	Date Received in OIRA: 02/20/2014
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2017	36 Months From Approved
Responses	35,282	0	0
Time Burden (Hours)	35,282	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The final regulations require that a defaulted Direct Loan or the Federal Family Educational Loan (FFEL) program borrower submit his or her request for loan rehabilitation on a form as approved by the Secretary. The approved form would collect information about the borrower (an spouse, if applicable) in order for the loan holder to make a determination of the reasonable and affordable loan rehabilitation monthly repayment amount.

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Authorizing Statute(s): US Code: 20 USC 1078-6 Name of Law: null
   US Code: 20 USC 1087a et seq. Name of Law: null
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1840-AD12	Final or interim final rulemaking	78 FR 65768	11/01/2013

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Financial Disclosure for Reasonable and Affordable Rehabilitation Payments Form	1845-0000	Financial Disclosure for Reasonable and Affordable Rehabilitation Payments

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	35,282	0	0	35,282	0	0
Annual Time Burden (Hours)	35,282	0	0	35,282	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The final regulations provide for the revised form to be used for the standardized collection of data used to determine the loan rehabilitation monthly repayment amount for a defaulted Direct Loan or FFEL borrower after the borrower has objected to the monthly repayment amount determined using the 15% formula described in the final regulations. The changes to the form are due to the public comments received during the NPRM and Final rulemaking periods.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 02/20/2014

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