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

Forms and Documents

Document Name	Status
Form ED Form 799 Lender's Request for Payment of Interest and Special Allowance - LaRS (JS) Form and Instruction	Modified
FW OMB Comments on Lender's Request for Payment of Interest and Special Allowance (LARS - Form 799).htm Supplementary Document	2006-10-20
Att_Section 682.305.doc Supplementary Document	2006-08-16
Att_Supporting Statement.doc Supporting Statement A	2006-08-15

IC Document Collections

IC ID	Document Title	Status
22171	Lender's Request for Payment of Interest and Special Allowance - LaRS (JS) Form and Instruction	Modified

ICR Details

OMB Control No: 1845-0013	ICR Reference No: 200608-1845-007
Status: Historical Active	Previous ICR Reference No: 200307-1845-001
Agency/Subagency: ED/FSA	Agency Tracking No: 3138
Title: Lender's Request for Payment of Interest and Special Allowance - LaRS
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/23/2006
	Date Received in OIRA: 08/18/2006
Terms of Clearance: Approved for one year only. The information collected by the LaRS (ED Form 799)is currently also captured by the National Student Loan Data System (NSLDS). Within six months of OMB approval, Education will brief OMB on: 1) efforts to eliminate duplication in its data collection efforts for Federal Student Aid programs; and 2) efforts to capture loan-level data.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2007	36 Months From Approved	10/31/2006
Responses	12,800	0	14,184
Time Burden (Hours)	31,200	0	34,573
Cost Burden (Dollars)	0	0	0

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Abstract: The Lender's Request for Payment of Interest and Special Allowance - LaRS (ED Form 799) is used by approximately 3,200 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.

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Authorizing Statute(s): PL: Pub.L. 109 - 171 Title IV, Part B Name of Law: Higher Education Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 34079	06/13/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 47784	08/18/2006
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Lender's Request for Payment of Interest and Special Allowance - LaRS (JS)	ED Form 799	LaRs

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	12,800	14,184	0	0	-1,384	0
Annual Time Burden (Hours)	31,200	34,573	0	0	-3,373	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The decrease in hours is due to a decrease in participating lenders.

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Annual Cost to Federal Government: $351,957

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 08/18/2006

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