William D. Ford Federal Direct Loan Program (DL) Regulations
Revision of a currently approved collection
No
Regular
07/13/2022
Requested
Previously Approved
36 Months From Approved
12/31/2022
9,377,501
9,042,140
831,007
739,746
0
0
The Department of Education (the Department) proposes to amend the William D. Ford Federal Direct Loan (Direct Loan) Program regulations issued under the Higher Education Act of 1965, as amended (HEA), to implement changes made to the regulations in §685.300 - Agreements between an eligible school and the Secretary for participation in the Direct Loan Program and to remove prior changes to §685.304 - Counseling borrowers. These proposed regulations are a result of negotiated rulemaking and would add new requirements and remove a requirement to the current regulations. This request is for a revision of the current information collection to include the new regulatory requirements with the attendant burden and the removal of some current regulatory language and its current burden.
The Department proposes to reinstate prior regulations that barred institutions, as a condition of participating in the Direct Loan program, from requiring borrowers to accept pre-dispute arbitration agreements and class action waivers as they relate to borrower defense claims.
These proposed regulations would remove §685.304(a)(6)(xiii) through (xv). The proposed regulations at §685.300 would state the conditions under which disclosures would be required and provide deadlines for such disclosures removing the need for this regulatory language.
This request is for a revision of the currently approved information collection. These changes are due to the proposed regulations offered through program change. The increase in burden to this information collection is 91,261 hours for 335,361 responses from 1,587 institutions and including the removal of 30,225 hours based on additional estimated 3 hours for 944 institutional responses and an additional estimated 5 minutes for 324,407 individual responses due to the deletion of the previous regulatory requirements.
$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.