Federal Direct Loan Program
and Federal Family Education Loan Program Teacher Loan Forgiveness
Forms
Extension without change of a currently approved collection
No
Regular
09/07/2023
Requested
Previously Approved
36 Months From Approved
09/30/2023
8,700
8,700
2,871
2,871
0
0
Sections 460 and 428J of the Higher
Education Act of 1965, as amended (HEA) provide for teacher loan
forgiveness in William D. Ford Federal Direct Loan (Direct Loan)
Program and the Federal Family Education Loan (FFEL) Program.
Borrowers who teach for five consecutive years at schools or
educational service agencies serving low-income families and meet
certain other requirements may receive up to $17,500 in loan
forgiveness. The teacher loan forgiveness regulations at 34 CFR
685.217 (for the Direct Loan Program) and 34 CFR 682.216 (for the
FFEL Program) require borrowers to provide their loan holders with
documentation establishing their eligibility for teacher loan
forgiveness and for teacher loan forgiveness forbearance. The U.S.
Department of Education (ED) is requesting an extension of the
currently approved forms. To reflect regulatory changes made by a
final rule published on November 1, 2022 (87 FR 65904), we have
updated language related to the capitalization of unpaid interest
that accrues during periods of forbearance. ED is otherwise making
no substantive changes to the language in either of the two
currently approved forms, and there are no changes to the data
elements.
US Code:
20
USC 1078-10 Name of Law: Higher Education Act of 1995, as
amended
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.