Guaranty Agency Financial Report

Forms and Documents

Document Name	Status
30-day 1845-0026.pdf Supplementary Document	2013-07-15
60D_FRN_1845-0026.pdf Supplementary Document	2013-05-07
Att_Supporting Statement_v.11 updated.docx Supporting Statement A	2013-05-01

IC Document Collections

IC ID	Document Title	Status
22225	Guaranty Agency Financial Report Instruction	Modified

ICR Details

OMB Control No: 1845-0026	ICR Reference No: 201307-1845-002
Status: Historical Active	Previous ICR Reference No: 201201-1845-001
Agency/Subagency: ED/FSA	Agency Tracking No: 1406.20
Title: Guaranty Agency Financial Report
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: 09/10/2013
	Date Received in OIRA: 07/15/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2016	36 Months From Approved	09/30/2013
Responses	744	0	792
Time Burden (Hours)	40,920	0	43,560
Cost Burden (Dollars)	0	0	0

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Abstract: The Guaranty Agency Financial Report (GAFR), ED Form 2000, is used by the thirty-one (31) guaranty agencies under the Federal Family Education Loan (FFEL) program, authorized by Title IV, Part B of the Higher Edcuation Act of 1965, as amended. Guaranty agencies use the Guaranty Agency Financial Report to: (1) request reinsurance from the Department of Education; (2) request payment on death, disability, closed school, and false certification claims paid to lenders; (3) remit refunds to the Department for rehabilitated loans and consolidation loans; (4) remit to the Department default and wage garnishment collections. The Department of Education also uses report data to monitor the guaranty agency's financial activities (agency federal fund and agency operating fund) and each agency's federal receivable balance.

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Authorizing Statute(s): US Code: 20 USC 1071, Section 428 Name of Law: The Higher Education Act of 1965
  

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:
	78 FR 26625	05/07/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 42056	07/15/2013
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
Guaranty Agency Financial Report	N/A, ED Form 2000	Guarantee Agency Financial Report ,   Monthly Annual Data Template

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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	744	792	0	0	-48	0
Annual Time Burden (Hours)	40,920	43,560	0	0	-2,640	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: ED is citing total burden hours of 40,920. This is a decrease of 2,640 hours. The decrease is due to a reduction in the number of respondents.

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Annual Cost to Federal Government: $884,152

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

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: 07/15/2013

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