Interest Accrual Form

Forms and Documents

Document Name	Status
Form 1 Interest Accrual Form Form and Instruction	Removed
Form 2 Interest Payment Form--Institutions Form and Instruction	New
Form 1 Interest Payment Form--Students Form and Instruction	New
Justification - interest_9.14.11 - 2.doc Supporting Statement A	2011-09-14

IC Document Collections

IC ID	Document Title	Status
42267	Interest Accrual Form Form and Instruction	Removed
199219	Interest Payment Form--Institutions Form and Instruction	New
198536	Interest Payment Form--Students Form and Instruction	New

ICR Details

OMB Control No: 3045-0053	ICR Reference No: 201107-3045-004
Status: Historical Active	Previous ICR Reference No: 200807-3045-004
Agency/Subagency: CNCS	Agency Tracking No:
Title: Interest Accrual Form
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 10/04/2011
	Date Received in OIRA: 07/19/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2014	36 Months From Approved	10/31/2011
Responses	8,000	0	4,000
Time Burden (Hours)	667	0	667
Cost Burden (Dollars)	0	0	0

---

Abstract: The Interest Payment Form or its electronic equivalent is used by AmeriCorps members to request interest payments, by schools and lenders to verify eligibility for the payments and by both parties to verify certain legal requirements.

---

Authorizing Statute(s): US Code: 42 USC 12602-12604 Name of Law: National and Community Service Act, as amended
  

Citations for New Statutory Requirements: None

---

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

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 25672	05/05/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 41769	07/15/2011
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Interest Accrual Form	1	Interest Accrual Form
Interest Payment Form--Students	1	Interest Payment Form
Interest Payment Form--Institutions	2	Interest Payment Form - Institutions

---

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	8,000	4,000	0	-4,000	8,000	0
Annual Time Burden (Hours)	667	667	0	-667	667	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: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Change due to adjustment. The burden for this ICR has decreased because we have a more accurate estimate of how many students and institutions use the electronic and paper forms.

---

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

---

Common Form ICR:  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:

(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: 07/19/2011

---