Federal Student Aid has developed the Integrated Partner Management (IPM) system. IPM is the new solution for application processing and financial reporting, that will replace 3 legacy applications. Consolidation of these applications will improve timeliness, data integrity and Departmentâs analystsâ ability to get a comprehensive view from one application as opposed to the current disjointed views across multiple applications. The new IPM system will include the application for approval for institutions and financial partners (including lenders) to participate in Federal Student Financial Aid programs. The IPM system will also allow institutions and financial partners participating in the Title IV HEA programs to submit the required audited financial statements and compliance audits. IPM includes significant advances to both partners and FSA analysts in the process used for providing oversight to FSA partners in the Title IV and improvements in the tools and technologies currently in place. IPM will transition a process that is currently heavily paper based to an easy to navigate, automated work-flow process. Under the IPM system the institutions log into a secure Department website, enter information pertaining to their eligibility, audit and finances and attach electronic documents to support eligibility, audit and financial statement submissions.
US Code:
20 USC 1088
Name of Law: Higher Education Act of 1965, as amended
This is a request for a new information collection based on a program change. With the Department is combining the functions of 3 current systems and there will be a single location for institutions to access reporting systems, we are anticipating a reduction in burden for institutions. We anticipate the burden to the 9,220 affected entities will total 7,890 hours.
$57,800
No
Yes
Yes
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.