Federal Perkins Loan Program Regulations

OMB Control No: 1845-0023	ICR Reference No: 201603-1845-008
Status: Historical Active	Previous ICR Reference No: 201304-1845-004
Agency/Subagency: ED/FSA	Agency Tracking No:
Title: Federal Perkins Loan Program Regulations
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/28/2016
Retrieve Notice of Action (NOA)	Date Received in OIRA: 06/01/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2019	36 Months From Approved	09/30/2016
Responses	8,217,172	0	23,488,137
Time Burden (Hours)	149,369	0	607,752
Cost Burden (Dollars)	0	0	0

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Abstract: Institutions of higher education make Perkins loans. Information is necessary in order to monitor a school's due diligence in its contact with the borrower regarding repayment, billing and collections, reimbursement to its Perkins loan revolving fund, rehabilitation of defaulted loans as well as institutions use of third party collections. This extension is a request for approval of reporting and record-keeping requirements contained in the regulations related to the administrative requirements of the Perkins Loan Program.

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Authorizing Statute(s): US Code: 20 USC 20 U.S.C. 1087aa Name of Law: Higher Education Act of 1965, as amended    US Code: 20 USC 20 U.S.C. 1087ii Name of Law: Higher Education Act of 1965, as amended

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 15700	03/24/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 35004	06/01/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title Form No. Form Name Affected Public - State Institutions Affected Public - For-profit Institutions Individual and Household Burden Hour requirement 34 CFR 674 Affected Public - Not-for-profit Institutions Private Sector - Business and other not for - profits Burden Hour requirement 34 CFR 674 Current Burden 34 CFF 674 Affected Public - Individuals State, Local or Tribal Governments Burden Hour requirement 34 CFR 674

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	8,217,172	23,488,137	0	0	-15,270,965	0
Annual Time Burden (Hours)	149,369	607,752	0	0	-458,383	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: This is a revision of the information collection. There are no changes to the regulations for this collection. However, there is a significant reduction of respondents, responses, and burden hours due to errors in calculating the number of responses, respondents and hours from prior filings. Instead of adjusting the previous respondents, responses, and hours from prior filings, the numbers were added to the existing numbers, resulting in a significant overstatement of the figures. The error is being corrected with this revision and the result is a significant decrease in responses and hours that will be considered as adjustments.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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? Uncollected

Agency Contact: Beth Grebeldinger 202 708-8242

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Common Form ICR:  No

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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: 06/01/2016

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