The Department of Education (the Department) amends the Student Assistance General Provisions regulations issued under the Higher Education Act of 1965, as amended (HEA), to implement changes made to the Student Assistance General Provisions regulations in §§668.14, 668.171 and 668.175.. These regulations are a result of negotiated rulemaking and would add new requirements to the current regulations.
These regulations in §668.14 are intended to increase outreach by the Secretary and institutions and make more information available to borrowers eligible for a closed school discharge so that they are aware of the option. The regulations in §668.171 include conditions and events that trigger a requirement that the school provide financial protection, such as a letter of credit. The regulations in §668.175 identifies the amounts of financial protection, such as letters of credit, required in the event of particular occurrences identified in §668.171.
This request is to revise the currently approved information collection. These changes are due to the proposed regulations offered through program changes. The increase in burden to this information collection is 65,541 hours. These changes to the regulations are a result of negotiated rulemaking.
$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.