William D. Ford Federal Direct Loan Program (Direct Loan Program) Promissory Notes and related forms
Revision of a currently approved collection
No
Regular
06/29/2026
table that charts list comparision
Requested
Previously Approved
36 Months From Approved
10/31/2027
12,422,843
9,862,685
6,211,422
4,021,663
181,374,628
0
Section 455(i) of the Higher Education Act of 1965, as amended (the HEA) requires the U.S. Department of Education (the Department) to develop, print, and distribute a standard promissory note to schools that participate in the William D. Ford Federal Direct Loan Program (Direct Loan Program).
The One Big Beautiful Bill Act (OBBBA) signed into law on July 4, 2025, made statutory changes to Sections 455(a), 455(d), 455(e), 455(g), and 455(q) that impact borrower eligibility, terms and conditions, and borrowersâ rights and responsibilities for Direct Loans received on or after July 1, 2026. Additionally, previous provisions regulated in 34 C.F.R. 685.209 effective July 1, 2024, were invalidated as a result of court actions on March 10, 2026. This is a request for a revision of this collection to align the promissory note with the requirements of the OBBBA.
The Department has updated burden numbers based on the most current information available to the Department, which is in part the reason for the increase in respondents and burden. When determining the numbers, the Department accounted for the decrease in form completion due to the elimination of Grad PLUS loans.
The revision of this collection in 2024 inadvertently omitted certain aspects of burden and left out some entities. Updated burden and response numbers now include burden for all affected entities.
The Department is requesting a total of 12,422,843 responses and 6,211,422 burden hours.
$0
No
Yes
Yes
No
No
No
No
Carolyn Rose 202 803-1502
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.
William D. Ford Federal Direct Loan Program (Direct Loan Program) Promissory Notes and related forms (Public)