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Subject: Federal Student Aid; Federal Perkins Loan Program Master Promissory Note

Publication Date: August 1, 2012

Posted Date: August 1, 2012

Subject: Federal Student Aid; Federal Perkins Loan Program Master Promissory Note

FR Type: Notice


[Federal Register Volume 77, Number 148 (Wednesday, August 1, 2012)]
[Notices]
[Page 45592]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-18713]

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DEPARTMENT OF EDUCATION

Notice of Submission for OMB Review; Federal Student Aid; Federal 
Perkins Loan Program Master Promissory Note

SUMMARY: The Federal Perkins Loan Master Promissory Note (MPN) provides 
the terms and conditions of the Perkins Loan program and is prepared by 
the participating eligible institution and signed by the borrower.

DATES: Interested persons are invited to submit comments on or before 
August 31, 2012.

ADDRESSES: Written comments regarding burden and/or the collection 
activity requirements should be electronically mailed to 
ICDocketMgr@ed.gov or mailed to U.S. Department of Education, 400 
Maryland Avenue SW., LBJ, Washington, DC 20202-4537. Copies of the 
proposed information collection request may be accessed from http://edicsweb.ed.gov, by selecting the ``Browse Pending Collections'' link 
and by clicking on link number 04850. 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 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.

SUPPLEMENTARY INFORMATION: Section 3506 of the Paperwork Reduction Act 
of 1995 (44 U.S.C. Chapter 35) requires that Federal agencies provide 
interested parties an early opportunity to comment on information 
collection requests. The Director, Information Collection Clearance 
Division, Privacy, Information and Records Management Services, Office 
of Management, publishes this notice containing proposed information 
collection requests at the beginning of the Departmental review of the 
information collection. 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. Please note that written comments received in response to 
this notice will be considered public records.
    Title of Collection: Federal Perkins Loan Program Master Promissory 
Note.
    OMB Control Number: 1845-0074.
    Type of Review: Extension.
    Total Estimated Number of Annual Responses: 462,922.
    Total Estimated Number of Annual Burden Hours: 231,461.
    Abstract: The Higher Education Act of 1965, as amended (HEA) 
established the Federal Perkins Loan Program (Perkins Loan) which 
provides low cost Title IV, HEA loans for eligible students to pay the 
costs of a student's attendance at an eligible institution of higher 
education. The borrower may receive loans for a single academic year or 
multiple academic years. The adoption of the MPN in the Perkins Loan 
Program has simplified the loan process by eliminating the need for 
institutions to prepare, and students to sign, a promissory note each 
award year.

    Dated: July 26, 2012.
Darrin A. King,
Director, Information Collection Clearance Division, Privacy, 
Information and Records Management Services, Office of Management.
[FR Doc. 2012-18713 Filed 7-31-12; 8:45 am]
BILLING CODE 4000-01-P
 


Last Modified: 07/31/2012