Subject: William D. Ford Federal Direct Loan (Direct Loan) Program: Application for Automatic Withdrawal of Payments

Publication Date: May 10, 2011

Posted Date: May 10, 2011

FR Type: Notice

[Federal Register Volume 76, Number 90 (Tuesday, May 10, 2011)]
[Notices]
[Page 27033]
From the Federal Register Online via the Government Printing Office [www.access.gpo.gov]
[FR Doc No: 2011-11392]

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DEPARTMENT OF EDUCATION

Notice of Submission for OMB Review
AGENCY: Department of Education.
ACTION: Comment Request.
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SUMMARY: The Director, Information Collection Clearance Division,
Privacy, Information and Records Management Services, Office of
Management, invites comments on the submission for OMB review as
required by the Paperwork Reduction Act of 1995 (Pub. L. 104-13).
DATES: Interested persons are invited to submit comments on or before
June 9, 2011.
ADDRESSES: Written comments should be addressed to the Office of
Information and Regulatory Affairs, Attention: Education Desk Officer,
Office of Management and Budget, 725 17th Street, NW., Room 10222, New
Executive Office Building, Washington, DC 20503, be faxed to (202) 395-
5806 or e-mailed to oira_submission@omb.eop.gov with a cc: to
ICDocketMgr@ed.gov. Please note that written comments received in
response to this notice will be considered public records.
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. The
OMB is particularly interested in comments which: (1) Evaluate whether
the proposed collection of information is necessary for the proper
performance of the functions of the agency, including whether the
information will have practical utility; (2) Evaluate the accuracy of
the agency's estimate of the burden of the proposed collection of
information, including the validity of the methodology and assumptions
used; (3) Enhance the quality, utility, and clarity of the information
to be collected; and (4) Minimize the burden of the collection of
information on those who are to respond, including through the use of
appropriate automated, electronic, mechanical, or other technological
collection techniques or other forms of information technology.
Dated: May 5, 2011.
Darrin A. King,
Director, Information Collection Clearance Division, Privacy,
Information and Records Management Services, Office of Management.
Federal Student Aid
Type of Review: Revision.
Title of Collection: William D. Ford Federal Direct Loan (Direct
Loan) Program: Application for Automatic Withdrawal of Payments.
OMB Control Number: 1845-0040.
Agency Form Number(s): N/A.
Frequency of Responses: On Occasion.
Affected Public: Individuals or households.
Total Estimated Number of Annual Responses: 706,200.
Total Estimated Annual Burden Hours: 23,516.
Abstract: The Application for Automatic Withdrawal of Payments
serves as the means by which a Direct Loan borrower requests and
authorizes the automatic debiting of monthly student loan payments from
the borrower's checking or savings account. The application collects
the necessary bank account information that allows the U.S. Department
to debit the borrower's loan payments. Borrowers who enroll in
automatic payment withdrawal receive a repayment incentive in the form
of a 0.25% reduction in the interest rate on their Direct Loans during
periods when payments are made by this method. Borrowers who do not
wish to enroll in automatic debiting of all monthly payments may
provide bank account information that allows them to authorize
electronic debiting of individual monthly loan payments.
Copies of the information collection submission for OMB review may
be accessed from the RegInfo.gov Web site at http://www.reginfo.gov/public/do/PRAMain or from the Department's Web site at http://edicsweb.ed.gov, by selecting the ``Browse Pending Collections'' link
and by clicking on link number 4530. 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., LBJ, Washington, DC 20202-4537.
Requests may also be electronically mailed to the Internet address
ICDocketMgr@ed.gov or faxed to 202-401-0920. Please specify the
complete title of the information collection and OMB Control Number
when making your request.
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. 2011-11392 Filed 5-9-11; 8:45 am]
BILLING CODE 4000-01-P

Maintained for Historical Purposes

Subject: William D. Ford Federal Direct Loan (Direct Loan) Program: Application for Automatic Withdrawal of Payments