No material or nonsubstantive change to a currently approved collection
No
Regular
Approved without change
07/02/2024
06/20/2024
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
05/31/2027
05/31/2027
05/31/2027
74,000
0
74,000
24,050
0
24,050
0
0
0
This is a simple change request. The Joint Consolidation Loan Separation Act (JCLSA), amended the Higher Education Act of 1965, as amended (HEA) to allow joint consolidation co-borrowers to apply to separate an existing joint Direct Consolidation Loan or Federal Consolidation Loan into individual Direct Consolidation Loans. With additional internal review of the Loan Verification Certificate (LVC) for the Application/Promissory Note for the Combined Application to Separate a Joint Consolidation Loan and Direct Consolidation Loan Promissory Note, it was determined that co-borrower address information would aid in locating the co-borrower when the loan holder completes the LVC. This requested information has been added to the attached version. The loan holders complete this form, and the additional information would not change the established burden for completion of this form. The updated form is provided with this submission.
US Code:
20 USC 1087(e)(g)
Name of Law: Higher Education Act of 1965, as amended
US Code: 20 USC 1087(e)(g) Name of Law: Higher Education Act of 1965, as amended
This is a new information collection. We anticipate 37,337 respondents (based on 37,000 individual applications and 335 loan holders) with a total number of 74,000 responses and a total of 24,050 hours (based on 18500 hours for individual applications and 5,500 for loan holders).
$0
No
No
No
No
No
No
No
Beth Grebeldinger 202 708-8242
Reginfo record details
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:
(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.
Joint Consolidation Loan Separation Application