These proposed Federal Family
Education Loan (FFEL) Program regulations revise the current
regulations by requiring a guaranty agency to engage in outreach to
a borrower with whom it has entered into a rehabilitation agreement
to ensure that the borrower understands the repayment options that
will be available to the borrower after the successful
rehabilitation of the defaulted loan. These proposed regulation
changes are a result of negotiated rulemaking and would update the
current regulations. The Department is requesting continued
approval of the current collection along with consideration of the
proposed revisions.
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 regulations under this
information collection to reflect regulatory changes brought about
through Negotiated Rulemaking. This is a program change due to
agency discretion. The proposed regulations modify provisions
governing loan rehabilitation. There is an increase of 21,266 hours
in burden and an increase of 125,091 responses from the current
collection.
$0
No
No
No
No
No
Uncollected
Ian Foss 202 377-3681
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.