1845-0021 – Affected Public – Individuals 9/22/2022
The Department of Education (the Department) amends 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 final regulations are a result of negotiated rulemaking and adds new requirements to and removes a requirement from the current regulations.
These final regulations remove §685.304(a)(6)(xiii) through (xv). The final regulations at §685.300 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 Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | Beth Grebeldinger |
| File Modified | 0000-00-00 |
| File Created | 2023-09-06 |