[Federal Register Volume 61, Number 234 (Wednesday, December 4, 1996)]
[Notices]
[Pages 64343-64344]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-30790]


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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