ATTACHMENT - Record and Report Table - Revolving Loans

ATTACHMENT - Record and Report Table - Revolving Loans.docx

Health Professions Student Loan (HPSL) Program and Nursing Student Loan (NSL) Program: Administrative Requirements (Regulations & Policy)

ATTACHMENT - Record and Report Table - Revolving Loans

OMB: 0915-0047

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Recordkeeping Requirements



Regulatory/section requirements

Number of

Record keepers

Hours per year

Total Burden

Hours

HPSL/LDS/PCL Programs:




Documentation of Cost of Attendance

432

1.05

454

Promissory Note

432

1.25

540

Documentation of Entrance Interview

432

1.25

540

Documentation of Exit Interview

475

0.37

176

Program Records

475

10

4,750

Student Records

475

10

4,750

Repayment Records

475

19.55

9,286

HPSL/LDS/PCL Subtotal



20,496




Regulatory/section requirements

Number of

Record keepers

Hours per year

Total Burden

Hours

NSL Program:




Documentation of Cost of Attendance

304

0.25

76

Promissory Note

304

0.50

152

Documentation of Entrance Interview

304

0.50

152

Documentation of Exit Interview

486

0.14

68

Program Records

486

5

2,430

Student Records

486

1

486

Repayment Records

486

2.51

1,220

NSL Subtotal



4,584





















Reporting Requirements



Regulatory/section requirements

Number of

Respondents

Responses per

Respondent

Total annual responses

Hours per response

Total hour burden

HPSL/LDS/PCL Programs:






Student Financial Aid Transcript

4,600

1

4,600

0.25

1,150

Loan Information Disclosure

325

299.5

97,338

0.63

61,323

Entrance Interview

325

139.5

45,338

0.50

22,669

Exit Interview


334

113.5

37,909

1.00

37,909

Notification of Repayment


334

862.5

288,075

0.38

109,469

Notification During Deferment


333

17

5,661

0.63

3,566

Notification of Delinquent Accounts


334

172.5

57,615

1.25

72,019

Credit Bureau Notification


334

6

2,004

0.50

1,002

Write-off of Uncollectible Loans

520

1

520

3

1560

Disability Cancellation

3

1

3

1

3

Administrative Hearings

0

0

0

0

0

Administrative Hearings

0

0

0

0

0

HPSL/LDS/PCL Subtotal

*334


539,063


310,670


REPORTING REQUIREMENTS Continued


Regulatory/section requirements

Number of

Respondents

Responses per

Respondent

Total annual responses

Hours per response

Total hour burden

NSL Program:






Student Financial Aid Transcript

4,100

1

4,100

0.25

1,025

Entrance Interview

282

17.5

4,935

0.42

2,073

Exit Interview


348

9

3,132

0.42

1,315

Notification of Repayment


348

9

3,132

0.27

846

Notification During Deferment


348

1.5

522

0.29

151

Notification of Delinquent Accounts


348

42.5

14,790

0.04

592

Credit Bureau Notification


348

709

246,732

0.006

1,480

Write-off of Uncollectible Loans

23

1

23

3

69

Disability Cancellation

16

1

16

1

16

Administrative Hearings

0

0

0

0

0

Administrative Hearings

0

0

0

0

0

NSL Subtotal

*348


277,382


7,567

AOR HRSA-501

726

1

726

12

8,712

Deferment HRSA- 519

2060

1

2060

.5

1,030

GRAND TOTAL
(instruments & recordkeeping requirements)

****

****

****

****

327,979


*Includes active and closing schools.





















Definitions


Documentation of Cost of Attendance

School must document criteria used for determining reasonable costs necessary for the students attendance.


Promissory Note

Each HPSL, LDS, NSL or PCL loan must be evidenced by a Promissory Note.


Documentation of Entrance Interview

School much conduct an entrance interview with borrower prior to disbursing HPSL, LDS, NSL or PCL funds.


Documentation of Exit Interview

School must document an exit interview with the borrower.


Program Records

School must maintain records relating to HPSL, LDS, NSL or PCL funds.


Student Records

Approved student applications, documentation of financial need records and financial aid

transcripts.


Repayment Records

Repayment records for each borrower.


Student Financial Aid Transcript

Applicants who attended an institution of higher education must submit a financial aid

transcript.


Loan Disclosure Requirements

School must disclose loan information to students with receive HPSL, LDS, NSL or PCL.


Notification of Repayment

School must notify borrower in writing of repayment obligation.


Notification during Deferment

School must notify borrower in deferment of repayment obligations 1 to 3 prior to

expiration.


Notification of Delinquent Accounts

School must make at least for attempts to contact borrower prior to loan becoming 120

days past due.


Credit Bureau Notification

School must become a member of a credit bureau and notify the credit bureau of accounts

past due.



Write-off of Uncollectible Loans

School must contact the Department within 30 days of determining that the loan is

Uncollectible.


Disability Cancellation

School must recommend do the Secretary a borrower to be permanently and totally

Disabled.


Evidence of Educational Loans

Borrowers must provide evidence of loans for which they are requesting partial payment

for service in a health professional shortage area.


Administrative Hearings

A school which fails to comply with reporting requirements relating to the operation of

the program may request a formal hearing.


Administrative Hearings

A school which fails to comply with requirement to reduce its default rates may request a

formal hearing.



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