The Department of Education (the Department) is requesting an extension of the information collection for the requirements that are contained in the regulations §668.164 – Disbursing funds. The regulations require that an institution that makes direct payments to a student or parent by electronic funds transfer (EFT) and that chooses to enter into an arrangement described in 668.164(e) or (f), including an institution that uses a third-party servicer to make those payments, must establish a selection process under which the student chooses one of several options for receiving those Title IV, HEA fund payments. The Department amended the Student Assistance General Provisions regulations issued under the Higher Education Act of 1965, as amended (HEA), to implement the changes made to the Student Assistance General Provisions regulations – Subpart K – Cash Management §668.164 – Disbursing funds. These regulations are intended to ensure students and parents have convenient access to their Title IV, HEA program funds, do not incur unreasonable and uncommon financial account fees on these title IV funds and are not led to believe that they must open a particular financial account to receive their Federal student aid.
The latest form for Student Assistance General Provisions - Subpart K - Cash Management expires 2021-12-31 and can be found here.
Document Name |
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Supporting Statement A |
Approved without change |
Extension without change of a currently approved collection | 2021-10-18 | |
Approved without change |
Extension without change of a currently approved collection | 2018-10-31 | |
Approved without change |
Revision of a currently approved collection | 2015-10-30 | |
Preapproved |
Revision of a currently approved collection | 2015-10-14 | |
Comment filed on proposed rule and continue |
Revision of a currently approved collection | 2015-06-22 | |
Approved without change |
Extension without change of a currently approved collection | 2013-10-21 | |
Approved without change |
New collection (Request for a new OMB Control Number) | 2010-10-22 | |
Comment filed on proposed rule |
New collection (Request for a new OMB Control Number) | 2010-09-22 |
Federal Enterprise Architecture: Education - Higher Education