TEACH Grant - Private Sector

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The regulations in 686.4 require an institution that ceases to participate or becomes ineligible to participate in the TEACH Grant program during an award year to report to the Department of Education within 45 days after the effective date of the loss of eligibility. The report must include the name of each TEACH Grant eligible student, the amount of the TEACH Grant funds paid to each student for that award year, and the amount of TEACH Grant funds due each eligible student through the end of the payment period.  Also, the institution must provide an accounting of all TEACH Grant expenditures for that award year to the date of termination.
					      # of 	      # of 	Total
					Respondents	Responses	hours
Business or other for-profits			1		1	     10

The regulations in 686.11 establish that in addition to meeting the student eligibility requirements, in order to receive a TEACH Grant the applicant must submit the designated application, sign a TEACH Grant agreement to serve (this burden is captured under OMB Control Number 1845-0083), and enroll in a TEACH Grant eligible institution.  In addition, the grant recipient must either maintain a cumulative grade point average of 3.25 on a 4.0 scale during each payment period or score above the 75th percentile on at least one of the battery of nationally- normed standardized test.

					      # of 	      # of 	Total
					Respondents	Responses	hours
Business or other for-profits		         9		    1,938	  119

The regulations in 686.32 require an institution to provide initial, subsequent, and exit counseling to each TEACH Grant recipient and maintain documentation substantiating the counseling requirements.  

					      # of 	      # of 	Total
					Respondents	Responses	hours
Business or other for-profits		         9		         9		  123

The regulations in 686.34 require the institution to promptly provide written notification to a student requesting repayment of any overpayment that the institution does not have responsibility to repay.  The regulations also require that the institution refer the student to the Department if the student does not take positive action to promptly resolve the TEACH Grant overpayment.

					      # of 	      # of 	Total
					Respondents	Responses	hours
Business or other for-profits		         9		        9		      3


TOTALS
	Responses	1,957
	Respondents	     10
	Burden Hours	   255