Recordkeeping Requirements
Regulatory/section requirements |
Number of Record keepers |
Hours per year |
Total Burden Hours |
HPSL Program: |
|
|
|
57.206(b)(2), Documentation of Cost of Attendance |
432 |
1.05 |
454 |
57.208(a), Promissory Note |
432 |
1.25 |
540 |
57.210((b)(1)(i), Documentation of Entrance Interview |
432 |
1.25 |
540 |
57.210(b)(1)(ii), Documentation of Exit Interview |
475 |
0.37 |
176 |
57.215(a)&(d), Program Records |
475 |
10 |
4,750 |
57.215(b), Student Records |
475 |
10 |
4,750 |
57.215(c), Repayment Records |
475 |
19.55 |
9,286 |
HPSL Subtotal |
|
|
20,496 |
HPSL data includes active and closing Loans for Disadvantaged Students (LDS) program schools.
Regulatory/section requirements |
Number of Record keepers |
Hours per year |
Total Burden Hours |
NSL Program: |
|
|
|
57.306(b)(2)(ii), Documentation of Cost of Attendance |
304 |
0.25 |
76 |
57.308(a), Promissory Note |
304 |
0.50 |
152 |
57.310(b)(1)(i), Documentation of Entrance Interview |
304 |
0.50 |
152 |
57.310(b)(1)(ii), Documentation of Exit Interview |
486 |
0.14 |
68 |
57.315(a)(1)&(a)(4), Program Records |
486 |
5 |
2,430 |
57.315(a)(2), Student Records |
486 |
1 |
486 |
57.315(a)(3), Repayment Records |
486 |
2.51 |
1,220 |
NSL Subtotal |
|
|
4,584 |
Reporting Requirements
Regulatory/section requirements |
Number of Respondents |
Responses per Respondent |
Total annual responses |
Hours per response |
Total hour burden |
HPSL Program: |
|
|
|
|
|
57.206(a)(2), Student Financial Aid Transcript |
4,600 |
1 |
4,600 |
0.25 |
1,150 |
57.208(c), Loan Information Disclosure |
325 |
299.5 |
97,338 |
0.63 |
61,323 |
57.210(b)(1)(i), Entrance Interview |
325 |
139.5 |
45,338 |
0.50 |
22,669 |
57.210(b)(1)(ii), Exit Interview |
334 |
113.5 |
37,909 |
1.00 |
37,909 |
57.210(b)(1)(iii), Notification of Repayment |
334 |
862.5 |
288,075 |
0.38 |
109,469 |
57.210(b)(1)(iv), Notification During Deferment |
333 |
17 |
5,661 |
0.63 |
3,566 |
57.210(b)(1)(vi), Notification of Delinquent Accounts |
334 |
172.5 |
57,615 |
1.25 |
72,019 |
57.210(b)(1)(x), Credit Bureau Notification |
334 |
6 |
2,004 |
0.50 |
1,002 |
57.210(b)(4)(i), Write-off of Uncollectible Loans |
520 |
1 |
520 |
3 |
1560 |
57.211(a) Disability Cancellation |
3 |
1 |
3 |
1 |
3 |
57.215(a)(2), Administrative Hearings |
0 |
0 |
0 |
0 |
0 |
57.215(a)(d), Administrative Hearings |
0 |
0 |
0 |
0 |
0 |
HPSL Subtotal |
*334 |
|
539,063 |
|
310,670 |
REPORTING REQUIREMENTS Continued
Regulatory/section requirements |
Number of Respondents |
Responses per Respondent |
Total annual responses |
Hours per response |
Total hour burden |
NSL Program: |
|
|
|
|
|
57.306(a)(2), Student Financial Aid Transcript |
4,100 |
1 |
4,100 |
0.25 |
1,025 |
57.310(b)(1)(i), Entrance Interview |
282 |
17.5 |
4,935 |
0.42 |
2,073 |
57.310(b)(1)(ii), Exit Interview |
348 |
9 |
3,132 |
0.42 |
1,315 |
57.301(b)(1)(iii), Notification of Repayment |
348 |
9 |
3,132 |
0.27 |
846 |
57.310(b)(1)(iv), Notification During Deferment |
348 |
1.5 |
522 |
0.29 |
151 |
57.310(b)(1)(vi), Notification of Delinquent Accounts |
348 |
42.5 |
14,790 |
0.04 |
592 |
57.310(b)(1)(x), Credit Bureau Notification |
348 |
709 |
246,732 |
0.006 |
1,480 |
57.310(b)(4)(i), Write-off of Uncollectible Loans |
23 |
1 |
23 |
3 |
69 |
57.311(a), Disability Cancellation |
16 |
1 |
16 |
1 |
16 |
57.315(a)(1)(ii), Administrative Hearings |
0 |
0 |
0 |
0 |
0 |
57.316(a)(d), Administrative Hearings |
0 |
0 |
0 |
0 |
0 |
NSL Subtotal |
*348 |
|
277,382 |
|
7,567 |
TOTAL |
**348 |
|
816,445 |
|
318,237 |
*Includes active and closing schools.
Definitions
Documentation of Cost of Attendance
School must document criteria used for determining reasonable costs necessary for the students attendance
Promissory Note
Each HPSL or NSL loan must be evidenced by a Promissory Note
Documentation of Entrance Interview
School much conduct an entrance interview with borrower prior to disbursing HPSL/NSL
funds
Documentation of Exit Interview
School must document an exit interview with the borrower
Program Records
School must maintain records relating to HPSL/NSL funds
Student Records
Approved student applications, documentation of financial need records and financial aid
transcripts
Repayment Records
Repayment records for each borrower
Student Financial Aid Transcript
Applicants who attended an institution of higher education must submit a financial aid
transcript
Loan Disclosure Requirements
School must disclose loan information to students with receive HPSL
Notification of Repayment
School must notify borrower in writing of repayment obligation
Notification during Deferment
School must notify borrower in deferment of repayment obligations 1 to 3 prior to
expiration
Notification of Delinquent Accounts
School must make at least for attempts to contact borrower prior to loan becoming 120
days past due
Credit Bureau Notification
School must become a member of a credit bureau and notify the credit bureau of accounts
past due
Write-off of Uncollectible Loans
School must contact the Department within 30 days of determining that the loan is
Uncollectible
Disability Cancellation
School must recommend do the Secretary a borrower to be permanently and totally
Disabled
Evidence of Educational Loans
Borrowers must provide evidence of loans for which they are requesting partial payment
for service in a health professional shortage area
Administrative Hearings
A school which fails to comply with reporting requirements relating to the operation of
the program may request a formal hearing
Administrative Hearings
A school which fails to comply with requirement to reduce its default rates may request a
formal hearing
File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
Author | Windows User |
File Modified | 0000-00-00 |
File Created | 2021-01-21 |