Posted Date:March 9, 2018
|Author:||Federal Student Aid|
Subject: Renewal of Third Party Servicer Data Form – Reporting Requirement
This letter announces the renewal of the Third Party Servicer Data Form for use by entities that perform Title IV functions or services on behalf of eligible institutions. The Office of Management and Budget (OMB) has approved the attached Third Party Servicer Data Form under OMB Control Number 1845-0130. The expiration date of the form is February 28, 2021 and replaces the previous version of the form with an expiration date of January 31, 2018.
The Title IV, HEA regulations authorize the Department to provide oversight of entities/individuals that perform any aspect of an institution's participation in the Title IV programs. The obligation to respond to this collection is required to retain the benefit to perform Title IV related functions on behalf of eligible higher education institutions.
Entities that meet the definition of a Third Party Servicer, as defined in 34 CFR § 668.2, GEN-15-01 and GEN-16-15, are required to submit the attached Third Party Servicer Data Form to the Third Party Servicer Oversight Group. Forms should be emailed to email@example.com. In addition, third party servicers are required to update information within 10 days of the date:
- The servicer changes its name;
- The servicer changes the address or contact information for its primary location or additional location;
- The servicer adds or terminates a contract with an eligible Title IV institution; or
- The servicer buys, sells, or merges with another third party servicer.
If you have questions about this announcement or the attached Third Party Servicer Data Form, contact the Third Party Servicer Oversight Group (816) 268-0543. You may also e-mail firstname.lastname@example.org.