[Federal Register: December 4, 1996 (Volume 61, Number 234)]
[Notices]
[Page 64343-64344]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
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DEPARTMENT OF EDUCATION
Notice of Proposed Information Collection Requests
AGENCY: Department of Education.
ACTION: Submission for OMB review; comment request.
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SUMMARY: The Acting Director, Information Resources Group, invites
comments on the proposed information collection requests as required by
the Paperwork Reduction Act of 1995.
DATES: Interested persons are invited to submit comments on or before
January 3, 1997.
ADDRESSES: Written comments should be addressed to the Office of
Information and Regulatory Affairs, Attention: Wendy Taylor, Desk
Officer, Department of Education, Office of Management and Budget, 725
17th Street, NW., Room 10235, New Executive Office Building,
Washington, DC 20503. Requests for copies of the proposed information
collection requests should be addressed to Patrick J. Sherrill,
Department of Education, 600 Independence Avenue, S.W., Room 5624,
Regional Office Building 3, Washington, DC 20202-4651.
FOR FURTHER INFORMATION CONTACT: Patrick J. Sherrill (202) 708-8196.
Individuals who use a telecommunications device for the deaf (TDD) may
call the Federal Information Relay Service (FIRS) at 1-800-877-8339
between 8 a.m. and 8 p.m., Eastern time, Monday through Friday.
SUPPLEMENTARY INFORMATION: Section 3506 of the Paperwork Reduction Act
of 1995 (44 U.S.C. Chapter 35) requires that the Office of Management
and Budget (OMB) provide interested Federal agencies and the public an
early opportunity to comment on information collection requests. OMB
may amend or waive the requirement for public
[[Page 64344]]
consultation to the extent that public participation in the approval
process would defeat the purpose of the information collection, violate
State or Federal law, or substantially interfere with any agency's
ability to perform its statutory obligations. The Acting Director of
the Information Resources Group publishes this notice containing
proposed information collection requests prior to submission of these
requests to OMB. Each proposed information collection, grouped by
office, contains the following: (1) Type of review requested, e.g.,
new, revision, extension, existing or reinstatement; (2) Title; (3)
Summary of the collection; (4) Description of the need for, and
proposed use of, the information; (5) Respondents and frequency of
collection; and (6) Reporting and/or Recordkeeping burden. OMB invites
public comment at the address specified above. Copies of the requests
are available from Patrick J. Sherrill at the address specified above.
Dated: November 27, 1996.
Linda C. Tague,
Acting Director, Information Resources Group.
Office of Postsecondary Education
Type of Review: Revision.
Title: Recordkeeping Requirements for Institutions Participating in
Student Financial Assistance Programs Authorized by Title IV, HEA.
Frequency: Recordkeeping.
Affected Public: Business or other for-profit; Not-for-profit
institutions; State, local or Tribal Gov't, SEAs or LEAs.
Annual Reporting and Recordkeeping Hour Burden:
Responses: 93,969.
Burden Hours: 753,003.
Abstract: The proposed rules require institutions to maintain
records documenting their participation in student financial assistance
programs authorized by Title IV of the Higher Education Act of 1965
(Title IV, HEA Program). Regulations also include requirements for
audits and repayments.
Type of Review: Revision.
Title: Due Diligence by Guaranty Agencies and Lenders.
Frequency: Monthly.
Affected Public: Business or other for-profit; Not-for-profit
institutions; State, local or Tribal Gov't, SEAs or LEAs.
Annual Reporting and Recordkeeping Hour Burden:
Responses: 5,829.
Burden Hours: 3,398.31.
Abstract: The due diligence regulations assure that guaranty
agencies and lenders pursue collection activities vigorously on
delinquent and defaulted loans in the Federal Family Education Loan
Program (FFELP).
Type of Review: Revision.
Title: Student Assistance General Provisions--Subpart K-- Cash
Management/Easy Access for Students and Institutions (EASI) Package.
Frequency: Monthly.
Affected Public: Business or other for-profit; Not-for-profit
institutions.
Annual Reporting and Recordkeeping Hour Burden:
Responses: 14,529,654.
Burden Hours: 1,218,717.8.
Abstract: These regulations revise the existing provisions of the
Student Assistance General Provisions regulations regarding cash
management. Information collection under these regulations relates to
cash management requirements and practices for institutions
participating in the Title IV, Higher Education Act programs.
Type of Review: New.
Title: Guaranty Agency Cost Allocation Plan.
Frequency: On Occasion.
Affected Public: Not-for-profit institutions; State, local or
Tribal Gov't, SEAs or LEAs.
Annual Reporting and Recordkeeping Hour Burden:
Responses: 25.
Burden Hours: 2,500.
Abstract: A guaranty agency is a state or private non-profit entity
that performs certain administrative role in the Federal Family
Education Loan (FFEL) Program. Their reserve funds contain federal
money. Some agencies are involved in separately funded non-FFEL
guaranty activities. If such an agency uses personnel and resources to
perform both its FFEL and other activities, it must develop and comply
with a plan for allocating costs to ensure that federal funds are not
used to subsidize the agency's non-FFEL guaranty activities. The agency
will be required to submit its cost allocation to the Secretary upon
request.
[FR Doc. 96-30790 Filed 12-3-96; 8:45 am]
BILLING CODE 4000-01-P