Guaranty Agency Financial Report

ICR 201606-1845-006

OMB: 1845-0026

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2016-08-17
ICR Details
1845-0026 201606-1845-006
Historical Active 201307-1845-002
ED/FSA
Guaranty Agency Financial Report
Extension without change of a currently approved collection   No
Regular
Approved without change 11/02/2016
Retrieve Notice of Action (NOA) 08/22/2016
  Inventory as of this Action Requested Previously Approved
11/30/2019 36 Months From Approved 11/30/2016
672 0 744
36,960 0 40,920
0 0 0

The Guaranty Agency financial Reports is used by a guaranty agency to request payments of reinsurance for defaulted student loans; make payments for amounts due the Department, for collections on default and lender of last resort loan (default) claims on which reinsurance has been paid and for refunding amounts previously paid for reinsurance claims. The form is also used to determine required reserve levels for agencies and to collect debt information as required for the "Report on Accounts and Loans Receivable Due from the Public," SF 220-9 (Schedule 9 Report) as required by the U.S. Department of Treasury.

US Code: 20 USC 1071, Section 428 Name of Law: The Higher Education Act of 1965
  
None

Not associated with rulemaking

  81 FR 39634 06/17/2016
81 FR 56615 08/22/2016
No

2
IC Title Form No. Form Name
Guaranty Agency Financial Report - State Agency NA GAFR_Form_2016
Guaranty Agency Financial Report - Not-for-Profit Agencies NA GAFR Form 2016

  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 672 744 0 0 -72 0
Annual Time Burden (Hours) 36,960 40,920 0 0 -3,960 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The Department is showing a decrease in burden of 3,960 hours due to a decrease in the number of respondents using the form. The total estimated burden is 36,960 hours for this information collection extension request.

$884,152
No
No
No
No
No
Uncollected
Beth Grebeldinger 202 708-8242

  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.
08/22/2016


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