Part 601 Preferred Lender Arrangements

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Private education Loan Application Self-Certification	Form and Instruction	Modified	Available
Private education Loan Application Self-Certification	Form and Instruction	Modified	Available
Private education Loan Application Self-Certification	Form and Instruction	Modified	Available
Private Education Loan Applicant Self-Certification	Form and Instruction	Modified	Available
1845-0101 Supporting Statement 5 2 2016.docx	Supporting Statement A	Uploaded 2016-05-02	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
205978	Part 601 Public Affected Party	Form and Instruction	Modified	Private education Loan Application Self-Certification
205978	Part 601 Public Affected Party	Other-Regulations	Modified
205977	Part 601 Private Affected Party	Form and Instruction	Modified	Private education Loan Application Self-Certification
205977	Part 601 Private Affected Party	Other-Regulations	Modified
205976	Part 601 For-Profit Affected Party	Form and Instruction	Modified	Private education Loan Application Self-Certification
205976	Part 601 For-Profit Affected Party	Other-Regulations	Modified
191624	Part 601 Individual Affected Party	Form and Instruction	Modified	Private Education Loan Applicant Self-Certification
191624	Part 601 Individual Affected Party	Other-Regulations	Modified

ICR Details

OMB Control No: 1845-0101	ICR Reference No: 201602-1845-003
Status: Historical Active	Previous ICR Reference No: 201302-1845-005
Agency/Subagency: ED/FSA	Agency Tracking No:
Title: Part 601 Preferred Lender Arrangements
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/15/2016
Retrieve Notice of Action (NOA)	Date Received in OIRA: 05/05/2016
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2019	36 Months From Approved	07/31/2016
Responses	17,405,090	0	16,576,360
Time Burden (Hours)	3,553,281	0	3,384,103
Cost Burden (Dollars)	0	0	0

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Abstract: Part 601 - Institution and Lender Requirements Relating to Education Loans is a section of the regulations governing private education loans offered at covered institutions. These regulations assure the Secretary that the integrity of the program is protected from fraud and misuse of program funds and places requirements on institutions and lenders to ensure that borrowers receive additional disclosures about Title IV, HEA program assistance prior to obtaining a private education loan. The Department is submitting the unchanged Private Education Loan Applicant Self-Certification for OMB's continued approval. While information about the applicant's cost of attendance and estimated financial assistance must be provided to the student, if available, the student will provide the data to the private loan lender who must collect and maintain the self-certification form prior to disbursement of a Private Education Loan. The Department will not receive the Private Education Loan Applicant Self-Certification form and therefore will not be collecting and maintaining the form or its data.

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Authorizing Statute(s): US Code: 20 USC 1019-1019d Name of Law: 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 10231	02/29/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 27126	05/05/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

table that charts list of burden

IC Title	Form No.	Form Name
Part 601 For-Profit Affected Party	N/A	Private education Loan Application Self-Certification
Part 601 Individual Affected Party	N/A	Private Education Loan Applicant Self-Certification
Part 601 Private Affected Party	N/A	Private education Loan Application Self-Certification
Part 601 Public Affected Party	N/A	Private education Loan Application Self-Certification

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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	17,405,090	16,576,360	0	0	828,730	0
Annual Time Burden (Hours)	3,553,281	3,384,103	0	0	169,178	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The Department is requesting an extension of the current information collection. There has been no change to the required reporting and recordkeeping regulations of the Institution and Lender Requirements Relating to Education Loans. We have calculated an increase in the burden caused by an anticipated increase in borrower use of private education loans from the previous filing and a redistribution of burden between the institution types.

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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: 05/05/2016

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