Student Right-to-Know (SRK) Private Institutions

1845-0004 – Affected Public – Private Institutions 6/9/2016

The Department of Education (the Department) proposes to amend 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 – Subpart D – Institutional and Financial Assistance Information for §668.41 - Students Reporting and disclosure of information. These proposed regulations are a result of negotiated rulemaking and would add new requirements to the current regulations.

These proposed regulations are intended to ensure that current and prospective students are provided with warnings through individual notification or group notification if the Department requires a private institution to provide financial protections based on specified criteria.

AFFECTED ENTITIES AND BURDEN:

For the financial protection disclosure, under proposed §668.41(i), we estimate that it will take institutions an additional 50 hours to produce and provide the required financial protection disclosures to current and prospective students and update the institution’s Web site. We estimate that 169 private institutions may have 2 events requiring such reporting.

Affected entity # of Respondents # of Response Hrs/Response Total Burden

Private Institutions 169 338 x 50 hours 16,900

TOTALS

Responses 338

Respondents 169

Burden Hours 16,900