William D. Ford Federal Direct Loan (Direct Loan) Program Federal Direct PLUS Loan Master Promissory Note and Endorser Addendum

Forms and Documents

Document Name	Status
Form 1845-0068 Federal Direct PLUS Loan Application and Master Promissory Note Form and Instruction	Modified
Form 1845-0068 Endorser Addendum Form and Instruction	Modified
RE_ TICAS 30-Day Comments on Direct Subsidized Loan_Direct Unsubsidized Loan MPN (1845-0007).pdf Supplementary Document	2013-12-17
30D_FRN_1845-0068.pdf Supplementary Document	2013-11-07
60D_FRN_1845-0068.pdf Supplementary Document	2013-08-22
1845-0068.Supporting Statement_30-DAY_2013-11-01.doc Supporting Statement A	2013-11-04

IC Document Collections

IC ID	Document Title	Status
22329	Federal Direct PLUS Loan Application and Master Promissory Note Form and Instruction	Modified
180539	Endorser Addendum Form and Instruction	Modified

ICR Details

OMB Control No: 1845-0068	ICR Reference No: 201311-1845-001
Status: Historical Active	Previous ICR Reference No: 201008-1845-003
Agency/Subagency: ED/FSA	Agency Tracking No: 1436.11
Title: William D. Ford Federal Direct Loan (Direct Loan) Program Federal Direct PLUS Loan Master Promissory Note and Endorser Addendum
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/28/2014
	Date Received in OIRA: 11/07/2013
Terms of Clearance: Since this is a contract that sets the terms for all loans that students and parents sign and loan policies and repayment terms change so frequently, OMB is granting ED with a two year approval for this collection instead of a three year approval.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2016	36 Months From Approved	02/28/2014
Responses	1,087,407	0	1,364,219
Time Burden (Hours)	543,704	0	682,110
Cost Burden (Dollars)	0	0	0

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Abstract: The Federal Direct PLUS Loan Master Promissory Note (Direct PLUS Loan MPN) serves as the means by which an individual applies for and agrees to repay a Federal Direct PLUS Loan. The Direct PLUS Loan MPN also informs the borrower of the terms and conditions of Direct PLUS Loan and includes a statement of borrower's rights and responsibilities. A Direct PLUS Loan borrower must not have an adverse credit history. If an applicant for a Direct PLUS Loan is determined to have an adverse credit history, the applicant may qualify for a Direct PLUS Loan by obtaining an endorser who does not have an adverse credit history. The Endorser Addendum serves as the means by which an endorser agrees to repay the Direct PLUS Loan if the borrower does not repay it. This revision incorporates changes to information based on statutory and regulatory changes as well as expanding repayment plan information, deleting outdated information and clarifying information through updated charts and language.

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Authorizing Statute(s): US Code: 20 USC 1087e(i), 1078-2(a)(1)(A) Name of Law: Higher Education Act of 1965, as amended
  

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 52169	08/22/2013
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 66905	11/07/2013
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Federal Direct PLUS Loan Application and Master Promissory Note	1845-0068	Direct PLUS Loan MPN
Endorser Addendum	1845-0068	Endorser Addendum to Direct PLUS Loan MPN

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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	1,087,407	1,364,219	0	0	-276,812	0
Annual Time Burden (Hours)	543,704	682,110	0	0	-138,406	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 Department is identifying program changes based on statutory changes made to the interest rates through the Bipartisan Student Loan Certainty Act of 2013 (P.L. 113-28). We are also adding and expanding repayment plan information, deleting outdated information and supplying clearer information through updated charts and language. Due to a decrease in the number of respondents (as explained in the Supporting Statement, Item 15), there is a downward adjustment resulting in a decrease of 138,406 hours.

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Annual Cost to Federal Government: $20,827

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: 11/07/2013

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