2013-10706. Agency Information Collection Activities; Comment Request; Guaranty Agency Financial Report

AGENCY:

Federal Student Aid (FSA), Department of Education (ED).

ACTION:

Notice.

SUMMARY:

In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 3501 et seq.), ED is proposing an extension of an existing information collection.

DATES:

Interested persons are invited to submit comments on or before July 8, 2013.

ADDRESSES:

Comments submitted in response to this notice should be submitted electronically through the Federal eRulemaking Portal at http://www.regulations.gov by selecting Docket ID number ED-2013-ICCD-0064 or via postal mail, commercial delivery, or hand delivery. Please note that comments submitted by fax or email and those submitted after the comment period will not be accepted. Written requests for information or comments submitted by postal mail or delivery should be addressed to the Director of the Information Collection Clearance Division, U.S. Department of Education, 400 Maryland Avenue SW., LBJ, Room 2E103 Washington, DC 20202-4537.

FOR FURTHER INFORMATION CONTACT:

Electronically mail [e-mail]. Please do not send comments here.

SUPPLEMENTARY INFORMATION:

The Department of Education (ED), in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed, revised, and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the public's reporting burden. It also helps the public understand the Department's information collection requirements and provide the requested data in the desired format. ED is soliciting comments on the proposed information collection request (ICR) that is described below. 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: Guaranty Agency Financial Report.

OMB Control Number: 1845-0026.

Type of Review: An extension of an existing information collection.

Respondents/Affected Public: State, Local, or Tribal Governments.

Total Estimated Number of Annual Responses: 744.

Total Estimated Number of Annual Burden Hours: 40,920.

Abstract: The Guaranty Agency Financial Report (GAFR), Education 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 HEA of 1965, as amended. Guaranty agencies use the GAFR to: (1) Request reinsurance from Education; (2) request payment on death, disability, closed school, and false certification claim payments to lenders; (3) remit to Education refunds on rehabilitated loans and consolidation loans; (4) remit to Education default and wage garnishment collections. 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.

Dated: May 1, 2013.

Kate Mullan,

Acting Director, Information Collection Clearance Division, Privacy, Information and Records Management Services, Office of Management.