1845-0100 – Affected Public - Individuals 3/30/2022
This is a request for an extension without change of the OMB approval for the recordkeeping requirements contained in 34 CFR 674.53, 674.56, 674.57, 674.58 and 674.59. The information collections in these regulations are necessary to determine Federal Perkins Loan (Perkins Loan) Program borrower’s eligibility to receive program benefits and to prevent fraud and abuse of program funds.
Section 674.53 – Teacher cancellation – Federal Perkins, NDSL, and Defense loans.
This regulation identifies the requirements for teachers to qualify for cancellation benefits while performing: full-time teaching in an elementary or secondary school serving low-income students; full-time teaching in special education or full-time teaching in fields of expertise as identified in regulation.
We estimate that there are 4,568 borrowers eligible for this cancellation. We estimate the burden on each borrower for submission of documentation to obtain this cancellation will take .5 hours per borrower.
4,568 X .5 hours (30 minutes) = 2,284 hours
Section 674.56 – Employment cancellation – Federal Perkins, NDSL, and Defense loans.
This regulation identifies the categories of service for borrowers to qualify for cancellation benefits including: full-time employment as a nurse or medical technician; full-time employment in a public or private nonprofit child or family service agency; service as a qualified professional provider of early intervention services; full-time employment as a firefighter to a local, State, or Federal fire department or fire district; full-time employment as a faculty member at a Tribal College or University; full-time employment as a librarian with a master’s degree; or full-time employment as a speech pathologist with a master’s degree.
We estimate that there are 6,855 borrowers eligible for this cancellation. We estimate the burden on each borrower for submission of documentation to obtain this cancellation will take .5 hours per borrower.
6,855 X .5 hours (30 minutes) = 3,428 hours
Section 674.57 – Cancellation for law enforcement or corrections officer service – Federal Perkins, NDSL, and Defense loans.
This regulation identifies the requirements for law enforcement or corrections officers to qualify for cancellation benefits for an eligible employing agency as identified in regulation.
We estimate that there are 769 borrowers eligible for this cancellation. We estimate the burden on each borrower for submission of documentation to obtain this cancellation will take .5 hours per borrower.
769 X .5 hours (30 minutes) = 385 hours
Section 674.58 – Cancellation for service in an early childhood education program.
This regulation identifies the requirements for staff members in a Head Start program to qualify for cancellation benefits as identified in regulation.
We estimate that there are 5,283 borrowers eligible for this cancellation. We estimate the burden on each borrower for submission of documentation to obtain this cancellation will take .5 hours per borrower.
5,283 X .5 hours (30 minutes) = 2,642 hours
Section 674.59 – Cancellation for military service.
This regulation identifies the requirements for borrowers who are members of the U.S. Army, Navy, Air Force, Marine Corps, or Coast Guard to qualify for cancellation benefits as identified in regulation.
We estimate that over a five year period of submission required to receive 100% cancellation that there will be 40,961 borrowers eligible for this cancellation. We estimate the burden on each borrower for submission of documentation to obtain this cancellation will take .5 hours per borrower.
40,961 X .5 hours (30 minutes) = 20,481 hours
TOTALS
Responses 58,436
Respondents 58,436
Burden Hours 29,220
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | Beth Grebeldinger |
| File Modified | 0000-00-00 |
| File Created | 2022-06-24 |