Student Assistance General Provisions - Non-Title IV Revenue Requirements (90/10)

ICR 202110-1845-001

OMB: 1845-0096

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2022-01-05
ICR Details
1845-0096 202110-1845-001
Received in OIRA 201810-1845-005
ED/FSA ED-2021-SCC-0150
Student Assistance General Provisions - Non-Title IV Revenue Requirements (90/10)
Revision of a currently approved collection   No
Regular 01/10/2022
  Requested Previously Approved
36 Months From Approved 04/30/2022
10 1,872
5 2,808
0 0

The regulations in 34 CFR 668.28 provide that a proprietary institution must derive at least 10% of its annual revenue from sources other than Title IV, HEA funds, identifies sanctions for failing to meet this requirement, and otherwise implement the statute. An institution discloses in a footnote to its audited financial statements the amounts of Federal and non-Federal revenues, by category, that it used in calculating its 90/10 ratio (see section 487(d) of the HEA). The publication of final regulations on September 2, 2020, removed section 668.285(b) regarding Net Present Value in the calculation of the 90/10 ratio and reserved this subparagraph as of the effective date of the regulation, July 1, 2021. With the cancellation of the requirement to calculate the Net Present Value, we are revising the current information collection to estimate the burden for the reporting of the sanction to the Department only. This request is to revise the currently approved a information collection package, OMB Control Number 1845-0096, to include burden hours based on section 668.28(c) Sanctions. The information collection requirements in the regulations are necessary to determine eligibility to receive program benefits and to prevent fraud and abuse of program funds.

US Code: 20 USC 1094 Name of Law: Higher Education Act of 1965, as amended
  
None

Not associated with rulemaking

  86 FR 58900 10/25/2021
87 FR 1130 01/10/2022
Yes

1
IC Title Form No. Form Name
Student Assistance General Provisions - Non-Title IV Revenue Requirements (90/10)

  Total Request 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 10 1,872 0 -1,862 0 0
Annual Time Burden (Hours) 5 2,808 0 -2,803 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Changing Regulations
With the cancellation of the requirement to calculate the Net Present Value, this request is to revise the current information collection to estimate the burden for the reporting of the sanction to the Department. We estimate that an average of 10 institutions will be required to report to the Department that they have not met the non-Title IV revenue (90/10) requirement. The estimated burden hours are now estimated at 5 hours, a decrease of 2,803, based on the estimated number of institutions required to report information of 10, a decrease of 1,682 institutions.

$0
No
    No
    No
No
No
No
No
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.
01/10/2022


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