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Summary: Lender's Request for Payment of Interest and Special Allowance--LaRS

Publication Date: July 25, 2007

Page Numbers: 40844

Summary: Lender's Request for Payment of Interest and Special Allowance--LaRS

Posted on 07-25-2007

[Federal Register: July 25, 2007 (Volume 72, Number 142)]
[Page 40844]
From the Federal Register Online via GPO Access []



Notice of Proposed Information Collection Requests

AGENCY: Department of Education.

SUMMARY: The IC Clearance Official, Regulatory Information Management
Services, Office of Management, 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
September 24, 2007.

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 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 IC Clearance Official, Regulatory
Information Management Services, Office of Management, publishes that
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.
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.

Dated: July 19, 2007.
Angela C. Arrington, IC Clearance Official, Regulatory Information Management
Services,Office of Management.

Federal Student Aid

Type of Review: Extension.
Title: Lender's Request for Payment of Interest and Special Allowance--LaRS.
Frequency: Quarterly; Annually.
Affected Public: State, Local, or Tribal Gov't, SEAs or LEAs;
Businesses or other for-profit.
Reporting and Recordkeeping Hour Burden:

Responses: 12,800.
Burden Hours: 31,200

Abstract: The Lender's Request for Payment of Interest and Special
Allowance--LaRS (ED Form 799) is used by approximately 3,546 lenders
participating in the Title IV, PART B loan programs. The ED Form 799 is
used to pay interest and special allowance to holders of the Part B
loans; and to capture quarterly data from lender's loan portfolio for
financial and budgetary projections.
Requests for copies of the proposed information collection request
may be accessed from, by selecting the ``Browse
Pending Collections'' link and by clicking on link number 3416. When
you access the information collection, click on ``Download
Attachments'' to view. Written requests for information should be
addressed to U.S. Department of Education, 400 Maryland Avenue, SW.,
Potomac Center, 9th Floor, Washington, DC 20202-4700. Requests may also
be electronically mailed to or faxed to 202-245-
6623. Please specify the complete title of the information collection
when making your request.
Comments regarding burden and/or the collection activity
requirements should be electronically mailed to
Individuals who use a telecommunications device for the deaf (TDD) may
call the Federal Information Relay Service (FIRS) at 1-800-877-8339.

[FR Doc. E7-14392 Filed 7-24-07; 8:45 am]


Last Modified: 07/24/2007