William D. Ford Federal Direct Loan Program (DL) Regulations

William D. Ford Federal Direct Loan Program (DL) Regulations

Individual Affected Party Information 1845-0021 NPRM 2022 updated

William D. Ford Federal Direct Loan Program (DL) Regulations

OMB: 1845-0021

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1845-0021 – Affected Public – Individuals 7/12/2022

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.


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.

These regulations change the respondents/responses/burden hours for individuals in this collection by -342,407/-342,407/-27,393.


Individuals


Respondents 7,500,838

Responses 7,500,838

Burden Hours 586,593


We remove the previously estimated costs to respondents for §685.304 based on $16.30 for individuals per burden hour: $-446,505.90 (27,393 hours x $16.30).


File Typeapplication/vnd.openxmlformats-officedocument.wordprocessingml.document
AuthorBeth Grebeldinger
File Modified0000-00-00
File Created2022-07-14

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