The HEAL forms are required for lenders to make application to the HEAL insurance program, to report accurately and timely on loan actions, including transfer of loans to a secondary agent, and to establish the repayment status of borrowers who qualify for deferment of payments using form 508. The reports assist in the diligent administration of the HEAL program, protecting the financial interest of the federal government.
US Code:
42 USC 292
Name of Law: Public Health Service Act
The Department is requesting an extension of the currently approved information collection for HEAL forms 504 and 508 as well as the two data sets, Borrower Loan Status Updates and Loan Purchases and Consolidation. We are decreasing the total number of respondents to 21 from 96 (-75), responses to 69 from 167 (-98) and burden hours to 11 from 24 (-13). These changes are due to a decrease in HEAL servicer participation and the reduced number of borrowers who were in a deferred status at the end of FY17.
$3,120
No
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.