Change in Ownership Notification to Students

Forms and Documents

Document Name	Status
Paperwork Burden Statement 1845-NEW CIO NPRM2 2022.docx Supplementary Document	2022-07-27
1845-NEW Supporting Statement CIO NPRM2 2022.docx Supporting Statement A	2022-07-27

IC Document Collections

IC ID	Document Title	Status
254915	Change in Ownership Notification to Students Other-Regulations	New

ICR Details

OMB Control No:	ICR Reference No: 202207-1845-012
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: ED/FSA	Agency Tracking No:
Title: Change in Ownership Notification to Students
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/28/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	7	0
Time Burden (Hours)	28	0
Cost Burden (Dollars)	0	0

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Abstract: On October 4, 2021, the Department convened a negotiated rulemaking committee, the Affordability and Student Loans Committee, to consider proposed regulations for the Federal Student Aid programs authorized under title IV of the Higher Education Act of 1965, as amended, (HEA). The Secretary proposes regulations to clarify the process for consideration of changes in ownership and control, to promote compliance with the HEA and related regulations and reduce risk for students and taxpayers. To address the risks that some changes in ownership of postsecondary institutions present to students and taxpayers, the Department proposes under the authority of section 498(i) of the HEA to amend regulations covering changes in ownership. These proposed regulations are a result of negotiated rulemaking in 2021 and would add new requirements to the current regulations. Specifically, the proposed regulations would add new §600.20(g)(4), which would require institutions to notify enrolled and prospective students at least 90 days prior to the proposed change in ownership to provide them with adequate notice and information about the operations of their institution.

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Authorizing Statute(s): US Code: 20 USC 1094 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:
1840-AD66	Proposed rulemaking	87 FR 45432	07/28/2022

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Federal Register Notices & Comments

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
Change in Ownership Notification to Students

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ICR Summary of Burden

	Total Request	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	7	0	0	7	0	0
Annual Time Burden (Hours)	28	0	0	28	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: This is a request for an new collection with an increase in burden due to a proposed new regulation. The Department is requesting an increase of 28 hours for 7 institutions.

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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? No

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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: 07/28/2022

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