Request for Title IV Reimbursement or Heightened Cash Monitoring 2 (HCM2)

Forms and Documents

Document Name	Status
Request for Title IV Reimbursement or Heightened Cash Monitoring 2 (HCM2) Form and Instruction	New
Request for Title IV Reimbursement or Heightened Cash Monitoring 2 (HCM2) Form and Instruction	Modified
1845-0089 Supporting Statement 07072023.docx Supporting Statement A	2023-07-10

IC Document Collections

IC ID	Document Title	Status
259425	Request for Title IV Reimbursement or Heightened Cash Monitoring 2 (HCM2) Form and Instruction	New
187417	Request for Title IV Reimbursement or Heightened Cash Monitoring 2 (HCM2) Form and Instruction	Modified

ICR Details

OMB Control No: 1845-0089	ICR Reference No: 202303-1845-007
Status: Received in OIRA	Previous ICR Reference No: 202203-1845-007
Agency/Subagency: ED/FSA	Agency Tracking No: ED-2023-SCC-0059
Title: Request for Title IV Reimbursement or Heightened Cash Monitoring 2 (HCM2)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/13/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved	09/30/2023
Responses	564	732
Time Burden (Hours)	564	732
Cost Burden (Dollars)	0	0

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Abstract: 34 CFR Part 668—Student Assistance General Provisions, Subpart K—Cash Management (§668.162) establishes the rules and procedures for a participating institution to request, maintain, disburse, and manage the Title IV (TIV) program funds. Institutions must complete and submit a Form 270 to request TIV program funds while participating under the Reimbursement and Heightened Cash Monitoring payment methods as explained in §668.162(c) and (d). We are requesting an extension of the currently approved information collection. There have been no changes to the information requested or the form since its prior approval in September 2020.

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Authorizing Statute(s): US Code: 20 USC 1094 Name of Law: Title IV, HEA of 1965, as amended
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 20149	04/05/2023
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 44784	07/13/2023
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Request for Title IV Reimbursement or Heightened Cash Monitoring 2 (HCM2)	N/A	N/A
Request for Title IV Reimbursement or Heightened Cash Monitoring 2 (HCM2)	N/A	N/A

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ICR Summary of Burden

	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	564	732	0	0	-168	0
Annual Time Burden (Hours)	564	732	0	0	-168	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: We are requesting an extension of the current burden assessment. We now anticipate 564 burden hours due to the decrease to 14 institutions being monitored and fewer responses being required. The information collected is unchanged.

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Annual Cost to Federal Government: $17,040

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 07/13/2023

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