Lender's Request for Payment of Interest and Special Allowance - LaRS

Forms and Documents

Document	Type	Status	Availability
Form ED Form 799 LaRS Not-For-Profit Lenders	Form and Instruction	Modified	Repair queued
Form ED Form 799 LaRS For-Profit Lenders	Form and Instruction	Modified	Repair queued
SupportingStatement 1845-0013 LaRS form 799_2020 30D.docx	Supporting Statement A	Uploaded 2020-01-22	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
224060	LaRS Not-For-Profit Lenders	Form and Instruction	Modified
22171	LaRS For-Profit Lenders	Form and Instruction	Modified

ICR Details

OMB Control No: 1845-0013	ICR Reference No: 201911-1845-002
Status: Active	Previous ICR Reference No: 201610-1845-007
Agency/Subagency: ED/FSA	Agency Tracking No:
Title: Lender's Request for Payment of Interest and Special Allowance - LaRS
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/31/2020
	Date Received in OIRA: 01/27/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2023	36 Months From Approved	03/31/2020
Responses	2,175	0	7,350
Time Burden (Hours)	4,241	0	14,333
Cost Burden (Dollars)	0	0	0

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Abstract: The Department of Education (the Department) is submitting the Lender’s Interest and Special Allowance Request & Report, ED Form 799 for approval. The information collected on the ED Form 799 is needed to pay interest and special allowance to holders of Federal Family Education Loans, for internal financial reporting, budgetary projections, and for audit and lender reviews by the Department, Servicers, External Auditors and General Accounting Office (GAO). The legal authority for collecting this information is Title IV, Part B of the Higher Education Act of 1965, as amended by the Higher Education Reconciliation Act of 2005 (“the HERA”), (Pub. L. 109-171). The Department is requesting the continual approval for regulatory sections 682.304 and 682.414.

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Authorizing Statute(s): PL: Pub.L. 109 - 177 Title IV, Part B Name of Law: Higher Education Reconciliation Act of 2005
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 63862	11/19/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 4652	01/27/2020
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
LaRS For-Profit Lenders	ED Form 799	LARS 799 Form
LaRS Not-For-Profit Lenders	ED Form 799	LARS 799 Form

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ICR Summary of Burden

	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	2,175	7,350	0	0	-5,175	0
Annual Time Burden (Hours)	4,241	14,333	0	0	-10,092	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is an adjustment based on a decrease of 10,092 hours. The decrease is due to a decrease in participating lenders.

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Annual Cost to Federal Government: $167,891

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 01/27/2020

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