In accordance with 5 CFR 1320, the information collection is approved for three years. However, the Agency is reminded that subsequent submission should represent burden in terms of hours in response to question 12 (burden is currently reported in dollars) and the corresponding cost in dollars in response to question 13 (no cost is currently reported here).
Inventory as of this Action
Requested
Previously Approved
01/31/2018
36 Months From Approved
01/31/2015
6,723
0
4,991
3,259
0
2,291
0
0
0
Forms will be used by the Agency to obtain bank routing information from the borrower's financial institutions to establish an electronic loan payment plan.
This package reflects an increase of 1732 in the number of responses to 6,723; thereby increasing the number of burden hours by 968 to 3,259 from the previous submission. This increase is due to an increase in borrowers and an increase in their ability to benefit from electronic payments.
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.