Publication Date: April 18, 2014
Subject: OMB-Approval of the Financial Disclosure for Reasonable and Affordable Rehabilitation Payments Form
Summary: The letter announces to the availability of the Financial Disclosure for Reasonable and Affordable Rehabilitation Payments form for use by participants in the Direct Loan and Federal Family Education Loan (FFEL) programs.
On April 1, 2014, we published a Federal Register notice (79 FR 18287) that announced the OMB-approval of the attached Financial Disclosure for Reasonable and Affordable Rehabilitation Payments form under OMB Control Number 1845-0120. This form is required under the final regulations that were published in the Federal Register on November 1, 2013 (78 FR 65767). The form has an expiration date of March 31, 2017.
The regulations that require this form are effective on July 1, 2014. Therefore, guaranty agencies in the FFEL Program must begin using the form, as provided for in the regulations, for borrowers who request loan rehabilitation of a defaulted loan(s) on or after July 1, 2014.
The form is provided only in PDF format. Guaranty agencies are responsible for ensuring that the form they use is the form approved by OMB. No changes may be made to the form except as expressly provided below.
The form must be printed with black ink on white paper. The typeface, point size, and general presentation of the form may not be changed from the version approved by OMB. Any blank spaces at the top, bottom, or sides of the form may be used for bar coding or other information. In addition, contact and submission information can be pre-populated in the section of the form designed for that purpose.
Jeff Baker, Director
Policy Liaison and Implementation
Federal Student Aid