[Federal Register Volume 77, Number 250 (Monday, December 31, 2012)]
[Notices]
[Pages 77050-77051]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-31459]


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DEPARTMENT OF EDUCATION

[Docket No. ED-2012-ICCD-0074]


Agency Information Collection Activities; Part 601 Preferred 
Lender Arrangements

AGENCY: Office of Federal Student Aid (FSA), Department of Education 
(ED).

ACTION: Notice.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (44 
U.S.C. chapter 3501 et seq.), ED is proposing an extension of an 
existing information collection of a previously approved collection.

DATES: Interested persons are invited to submit comments on or before 
February 28, 2013.

ADDRESSES: Comments submitted in response to this notice should be 
submitted electronically through the Federal eRulemaking Portal at 
http://www.regulations.gov by selecting Docket ID number ED-2012-ICCD-
0074 or via postal mail, commercial delivery, or hand delivery. Please 
note that comments submitted by fax or email and those submitted after 
the comment period will not be accepted. Written requests for 
information or comments submitted by postal mail or delivery should be 
addressed to the Director of the Information Collection Clearance 
Division, U.S. Department of Education, 400 Maryland Avenue SW., LBJ, 
Room 2E105, Washington, DC 20202-4537.

[[Page 77051]]


FOR FURTHER INFORMATION CONTACT: Electronically mail 
[email protected]. Please do not send comments here.

SUPPLEMENTARY INFORMATION: The Department of Education (ED), in 
accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 
3506(c)(2)(A)), provides the general public and Federal agencies with 
an opportunity to comment on proposed, revised, and continuing 
collections of information. This helps the Department assess the impact 
of its information collection requirements and minimize the public's 
reporting burden. It also helps the public understand the Department's 
information collection requirements and provide the requested data in 
the desired format. ED is soliciting comments on the proposed 
information collection request (ICR) that is described below. The 
Department of Education is especially interested in public comment 
addressing the following issues: (1) Is this collection necessary to 
the proper functions of the Department; (2) will this information be 
processed and used in a timely manner; (3) is the estimate of burden 
accurate; (4) how might the Department enhance the quality, utility, 
and clarity of the information to be collected; and (5) how might the 
Department minimize the burden of this collection on the respondents, 
including through the use of information technology. Please note that 
written comments received in response to this notice will be considered 
public records.
    Title of Collection: Part 601 Preferred Lender Arrangements.
    OMB Control Number: 1845-0101.
    Type of Review: an extension of an existing information collection 
of a previously approved information collection.
    Respondents/Affected Public: Individuals or households.
    Total Estimated Number of Annual Responses: 13,674,883.
    Total Estimated Number of Annual Burden Hours: 3,197,761.
    Abstract: Part 601--Institution and Lender Requirements Relating to 
Education Loans is a new section of the regulations governing private 
education loans offered at covered institutions by lenders also 
participating in the FFEL program. These regulations assure the 
Secretary that the integrity of the program is protected from fraud and 
misuse of program funds and places requirements on institutions and 
lenders to insure that borrowers receive additional disclosures about 
Title IV, HEA program assistance prior to obtaining a private education 
loan. These regulations require covered institutions to provide a 
variety of new loan disclosures, disclosures on private loans, for 
institutions to prepare and submit an annual report on the use of 
private loans, and to establish and adopt a code of conduct for 
institutions participation in a preferred lender arrangement. The 
Department, in conjunction with outside entities is submitting the 
Private Education Loan Applicant Self-Certification form for OMB's 
approval. While information about the applicant's cost of attendance 
and estimated financial assistance must be provided to the student, if 
available, the student will provide the data to the private loan lender 
who must collect and maintain the self-certification form prior to 
disbursement of a Private Education Loan. The Department will not 
receive the Private Education Loan Applicant Self-Certification form 
and therefore will not be collecting and maintaining the form or its 
data.

    Dated: December 26, 2012.
Stephanie Valentine,
Acting Director, Information Collection Clearance Division, Privacy, 
Information and Records Management Services, Office of Management.
[FR Doc. 2012-31459 Filed 12-28-12; 8:45 am]
BILLING CODE 4000-01-P