Waiver of FFEL Program Loan Debt

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
1845-NEW SDR NPRM Supporting Statement 20240417.docx	Supporting Statement A	Uploaded 2024-04-17	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
266998	Waiver of FFEL Program Loan Debt For Profit	Other-Regulations	New
266997	Waiver of FFEL Program Loan Debt Private	Other-Regulations	New
266996	Waiver of FFEL Program Loan Debt Public	Other-Regulations	New

ICR Details

OMB Control No: 1845-0183	ICR Reference No: 202404-1845-005
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: ED/FSA	Agency Tracking No:
Title: Waiver of FFEL Program Loan Debt
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule	Conclusion Date: 05/20/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 04/17/2024
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11(c). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Resubmit when proposed rule is finalized.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

---

Abstract: On October 1, 2023, the Department of Education (the Department) convened a negotiated rulemaking committee, the Student Debt Relief Committee, to consider proposed regulations for the Federal Student Aid programs authorized under title IV of the Higher Education Act of 1965, as amended, (HEA). Through the Notice of Proposed Rulemaking (NPRM), (docket number ED-2023-OPE-0123, published April 17, 2024) the Secretary proposes to amend the regulations to provide for the waiver of certain student loan debts. The Department proposes to amend 34 CFR 682 by adding a new 682.403. The Department proposed regulations in the NPRM would, in accordance with the Secretary’s authority to waive repayment of a loan provided by the HEA, provide targeted debt relief as part of efforts to address the burden of student loan debt. The proposed regulations would allow the Secretary to waive specific Federal Family Education Loan (FFEL) Program loans held by private lenders or managed by guaranty agencies. In the case of FFEL Program loans held by a private loan holder or a guaranty agency, under proposed 682.403(a) the Secretary may waive the outstanding balance of a FFEL Program loan when a loan first entered into repayment on or before July 1, 2000; when the borrower is otherwise eligible for, but has not successfully applied for, a closed school discharge; or when the borrower attended an institution that lost its title IV eligibility due to a high CDR, if the borrower was included in the cohort whose debt was used to calculate the CDR or rates that were the basis for the institutions loss of eligibility. If the Secretary exercises his discretion under this section, the Secretary would notify the lender that a loan qualifies for a waiver and the lender would be instructed to submit a claim to the guaranty agency. The guaranty agency would pay the claim, be reimbursed by the Secretary, and assign the loan to the Secretary. After the loan is assigned, the Secretary would grant the waiver. This is a request for a new information collection.

---

Authorizing Statute(s): US Code: 20 USC 1082 Name of Law: Higher Education Act of 1965, as amended
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1840-AD93	Proposed rulemaking	89 FR 27564	04/17/2024

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 3

table that charts list of burden

IC Title	Form No.	Form Name
Waiver of FFEL Program Loan Debt For Profit
Waiver of FFEL Program Loan Debt Private
Waiver of FFEL Program Loan Debt Public

---

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

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a request for a new collection with an increase in burden due to a proposed regulation. The Department is requesting an increase of 3,498,024 hours for 326 respondents and 2,700,012 responses.

---

Annual Cost to Federal Government: $1,860,000,000

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.     No

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

---

Common Form ICR:  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:

(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: 04/17/2024

---