Publication Date: September 27, 2011
Posted Date: September 27, 2011
Subject: Federal Family Educational Loan Program (FFEL) Regulations--Administrative Requirements for States, Not-For-Profit Lenders, and Eligible Lender Trustees
FR Type: Notice
[Federal Register Volume 76, Number 187 (Tuesday, September 27, 2011)] [Notices] [Pages 59666-59667] From the Federal Register Online via the Government Printing Office [wais.access.gpo.gov] [FR Doc No: 2011-24846] ------------------------------------------------------ DEPARTMENT OF EDUCATION Notice of Submission for OMB Review AGENCY: Department of Education. ACTION: Comment request. ------------------------------------------------------- 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 October 27, 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: September 22, 2011. Darrin King,Director, Information Collection Clearance Division, Privacy, Information and Records Management Services, Office of Management. Federal Student Aid Type of Review: Extension. Title of Collection: Federal Family Educational Loan Program (FFEL) Regulations--Administrative Requirements for States, Not-For-Profit Lenders, and Eligible Lender Trustees. OMB Control Number: 1845-0085. Agency Form Number(s): N/A. Frequency of Responses: Annually. Affected Public: Not-for-profit Institutions; State. Local or Tribal Government. Total Estimated Number of Annual Responses: 73. Total Estimated Annual Burden Hours: 73. Abstract: The regulations in 34 CFR 682.302 (f) assure the Secretary that the integrity of the program is protected from fraud and misuse of the program funds. These regulations require a State, non-profit entity, or eligible lender trustee to provide to the Secretary a certification on the State or non-profit entity's letterhead signed by the State or non-profit's Chief Executive Officer (CEO), which states the basis upon which the entity qualifies as a State or non-profit entity. The submission must include documentation establishing the entity's State or non-profit status. In addition, the submission must include the name and lender identification number for which the eligible not-for profit designation is being certified. Once an entity has been approved as an eligible not-for-profit holder, the entity must provide to the Seretary an annual certification on the State or no-profit entity's letterhead signed by the CEO, which includes the name and lender identification number(s) of the entities for which designation is being recertified. The annual certifcation must state that the State or non-profit entity has not altered its status as a State or non-profit entity since its prior certification to the Secretary and that it continues to satisfy the requirements of an eligible not-for-profit holder either in its own right or through a trust
[[Page 59667]] agreement with an eligible lender trustee. Further, when an approved not-for-profit holder has a change in status, within 10 days of becoming aware of the occurrence of a change that may result in a State or non-profit entity that has been designated an eligible not-for-profit holder, either directly or through an eligible lender trustee, losing that eligibility, the State or non-profit entity must submit details of the change to the Secretary. 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 4663. 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. 2011-24846 Filed 9-26-11; 8:45 am] BILLING CODE 4000-01-P