Loan Rehabilitation: Reasonable and Affordable Payments

ICR 201612-1845-011

OMB: 1845-0120

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Supporting Statement A
2017-03-06
IC Document Collections
ICR Details
1845-0120 201612-1845-011
Historical Active 201402-1845-005
ED/FSA
Loan Rehabilitation: Reasonable and Affordable Payments
Revision of a currently approved collection   No
Regular
Approved without change 05/24/2017
Retrieve Notice of Action (NOA) 03/09/2017
  Inventory as of this Action Requested Previously Approved
05/31/2020 36 Months From Approved 05/31/2017
35,282 0 35,282
35,282 0 35,282
0 0 0

Borrowers who have defaulted on their Direct Loan or FFEL Program loans may remove those loans from default through a process called rehabilitation. Loan rehabilitation requires the borrower to make 9 payments within 10 months. The payment amount is set according to one of two formulas. The second of the two formulas uses the information that is collected in this form. The form is being revised to make it easier for borrowers to complete by either eliminating unnecessary language or simplifying language already on the form.

US Code: 20 USC 1078-6 Name of Law: null
  
None

Not associated with rulemaking

  81 FR 95972 12/29/2016
82 FR 13101 03/09/2017
No

1
IC Title Form No. Form Name
Loan Rehabilitation: Reasonable and Affordable Payments N/A Loan Rehabilitation: Reasonable and Affordable Payments

  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 35,282 35,282 0 0 0 0
Annual Time Burden (Hours) 35,282 35,282 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$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.
03/09/2017


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