Servicemembers Civil Relief Act (SCRA): Interest Rate Limitation Request

Forms and Documents

Document	Type	Status	Availability
Servicemembers Civil Relief Act (SCRA) Interest Rate Limitation Request Form	Form and Instruction	Unchanged	Repair queued
Final rule supporting statement 1845-0135 9 30 2105.docx	Supporting Statement A	Uploaded 2015-10-05	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
217047	Servicemembers Civil Relief Act (SCRA) Interest Rate Limitation Request Form	Form and Instruction	Unchanged

ICR Details

OMB Control No: 1845-0135	ICR Reference No: 201510-1845-017
Status: Historical Active	Previous ICR Reference No: 201510-1845-008
Agency/Subagency: ED/FSA	Agency Tracking No:
Title: Servicemembers Civil Relief Act (SCRA): Interest Rate Limitation Request
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: 10/30/2015
	Date Received in OIRA: 10/30/2015
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2018	36 Months From Approved
Responses	200	0	0
Time Burden (Hours)	67	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The Servicemembers Civil Relief Act (SCRA) provides that those on active duty military service are entitled to have an interest rate in excess of 6% be capped at 6% for the duration of their qualifying military service. The Department is requesting the creation of a new information collection in support of these proposed regulations crafted through Negotiated Rulemaking. These Federal Family Education Loan (FFEL) Program and Direct Loan Program proposed regulations revise the current regulations. The proposed regulations will require a loan holder to match its database against the Department of Defense's Defense Manpower Data Center (DMDC) and automatically apply the interest rate limitation, as appropriate, to borrowers under the Servicemembers Civil Relief Act. The form in this collection would only be used in limited cases where the borrower is not found in the Defense Manpower Data Center, do not have a copy of military orders, but still wishes to receive benefits under the SCRA.

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Authorizing Statute(s): US Code: 20 USC 1078 and 1087 Name of Law: The Higher Education Act of 1965, as amended
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1840-AD18	Final or interim final rulemaking	80 FR 67203	10/30/2015

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
Servicemembers Civil Relief Act (SCRA) Interest Rate Limitation Request Form	N/A	SCRA Interest Rate Limitation Request form

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ICR Summary 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	200	0	0	200	0	0
Annual Time Burden (Hours)	67	0	0	67	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: This is a new collection that is necessitated by a program change in the Direct Loan and FFEL Program proposed regulations. This new form would be used to capture instances in which a borrower's military service cannot be retrieved from the Department of Defense's Defense Manpower Data Center and the borrower does not have other evidence that could qualify them for the interest rate reduction under the SCRA. We expect the use of this collection to be very limited with a total of 200 individuals and 67 hours.

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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: 10/19/2015

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