Income Based Repayment - Notifications

ICR 202108-1845-001

OMB: 1845-0114

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2021-10-15
ICR Details
1845-0114 202108-1845-001
Received in OIRA 201808-1845-005
ED/FSA ED-2021-SCC-0119
Income Based Repayment - Notifications
Extension without change of a currently approved collection   No
Regular 10/20/2021
  Requested Previously Approved
36 Months From Approved 12/31/2021
958,240 958,240
76,665 76,665
0 0

The Higher Education Act of 1965, as amended (HEA), established the Federal Family Education Loan (FFEL) Program under Title IV, Part B. Section 493C [20 U.S.C. 1098e] of the HEA authorizes income based repayment for Part B borrowers who have a partial financial hardship. The regulations in 34 CFR 682.215(e)(2) require notifications to borrowers from the loan holders once a borrower establishes a partial financial hardship and is placed in an income based repayment (IBR) plan by the loan holder. The regulations identify information the loan holder must provide to the borrower to continue to participate in an IBR plan. This is a request for extension without change of the current information collection 1845-0114.

US Code: 20 USC 1098e Name of Law: Higher Education Act of 1965, as amended
  
None

Not associated with rulemaking

  86 FR 43530 08/09/2021
86 FR 58066 10/20/2021
Yes

  Total Request 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 958,240 958,240 0 0 0 0
Annual Time Burden (Hours) 76,665 76,665 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$0
No
    No
    No
No
No
No
No
Beth Grebeldinger 202 708-8242

  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.
10/20/2021


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