ICRAS 1403 1845
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– State, Local or Tribal Governments 9 / 27 /2013

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The Office of Management and Budget (OMB) Control Number 1845

- 0022 is expiring. This collection contains sections of the regulations at 34 CFR Part 668

– Student Assistance General Provisions. The regulations establish the standards to participate in the student financial aid assistance programs authorized by Title IV of the Higher Education Act of 1965, (HEA), as amended. These regulations establish institutional requirements in various areas of program administration. These regulations are an effort to minimize administrative burden for program participants, provide benefits to eligible Title IV, HEA program rec ipients, and protect the taxpay ers' interest from fraud and abuse of program funds. Subpart A

– General 34 CFR 668.3

– Academic y ear This section describes the requirements for an academic y ear for programs of study that will be eligible for Federal stud ent aid. I t also provides definitions of terms and a method for requesting relief from the Secretary

from the requirements of the academic y ear definition. Respondents Responses Hours Public institutions 4,312 8,071 2,160 34 CFR 668. 8

– Eligible program This section defines the manner in which a program can be eligible to participate in the Federal student aid programs as determined b y the t ype and control of the institution. I t also provides the method of calculating completion and placement rates for programs as well as additional program and institutional requirements. Respondents Responses Hours Public institutions 4,312 8,071 6,779 Subpart B

– Standards for Participation in Title I V, HEA Programs 34 CFR 668. 13

– Certification procedures This section defines the requirements for certification for institutions to participate in Federal student aid programs, the period that an institution may be eligible to participate, eligibility for provisional certification and for the revocation of eligibility

. Respondents Responses Hours Public institutions 4,312 8,071 11 34 CFR 668.14

– Program participation agreement This section specifies the requirements and agreements made between the Secret ary and an institution to participate in Federal student aid programs. Respondents Responses Hours Public institutions 4,312 8,071 33,581ICRAS 1403 1845
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34 CFR 668.15

– Factors of financial responsibility This section identifies how the institution must demonstrate it meets the standards of financial responsibility

to participate in the Federal student aid programs, as well as the possible consequences of failing to meet the requirements. Respondents Responses Hours Public institutions 4,3 12 8,071 881 34 CFR 668.16

– Standards of administrative capability This section identifies how the institution must demonstrate that it is administratively capable of participating in the Federal student aid programs, as well as the possibl e consequences of failing to meet the requirements. Respondents Responses Hours Public institutions 4,312 8,071 18,713 34 CFR 668.19

– Financial aid history This section describes the steps the institution must take to ensure that Fede ral student aid program funds are onl y delivered to students who previously attended an eligible institution and continue to meet eligibility criteria b y reviewing records made available b y the Secretary

. Respondents Responses Hours Public institutio ns 4,312 8,071 1,056 34 CFR 668.22

– Treatment of title IV finds when a student withdraws This section describes the steps the institution must take in determining the eligibility of, and amount of Federal student aid a student who has wit hdrawn from all courses before the conclusion of the academic period may retain and what must be repaid b y either the institution, the student, or both. Respondents Responses Hours Public institutions 4,321 8,095 152,001 34 CFR 668.23

– Compliance audits and audited financial statements This section identifies who and how an institution must provide compliance audits and financial statements to ensure that Federal student aid funds are being obtained and utilized consistent with the stat ute and the implementing regulations. Respondents Responses Hours Public institutions 4,312 8,071 3,946ICRAS 1403 1845
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34 CFR 668.24

– Record retention and examination This section identifies the ty pes of records that an institution must maintain t o document its eligibility to participate in Federal student aid programs, the eligibility of specific institutional programs to participate in Federal student aid programs, its administration of those aid programs, its financial responsibility , and its de livery of Federal student aid to eligible students. Respondents Responses Hours Public institutions 4,312 8,071 287,591 34 CFR 668.25

– Contracts between an institution and a third

- party servicer This section establishes minimum require ments for contracts between an institution and any third

- part y that it contracts with to perform an y aspect of the administration of the programs that would normally

be performed by

the institution. Respondents Responses Hours Public institutions 4,312 8,071 1,800 34 CFR 668.26

– End of an institution’s participation in the Title I V, HEA programs This section identifies the circumstances and requirements of an institution that closes, ceases to provide instruction or loses its eligibi lity to participate in Federal student aid programs. Respondents Responses Hours Public institutions 4,312 8,071 432 Subpart D

– Institutional and Financial Assistance Information for Students 34 CFR 668.42

– Financial assistance i nformation This section identifies the ty pes and manner of information about Federal student aid available at the institution that must be disclosed to various parties who may participate in Federal student aid programs at the institution. Respondents Responses Hours Public institutions 4,312 8,071 10,710 34 CFR 668.43

– In stitutional information This section identifies the ty pes and manner of information about various aspects of the institution that must be disclosed to parties who ar e or may wish to enroll in programs at the institution. Respondents Responses Hours Public institutions 4,312 8,071 26,840ICRAS 1403 1845
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34 CFR 668.46

– In stitutional securit y policies and crime statistics This section identifies the ty pes and mann er of information about securit y policies and procedures as well as statistics of the ty pes of crimes that took place at the institution that must be disclosed to parties who are or may wish to enroll in programs at the institution. Respondents Respons es Hours Public institutions 4,312 8,071 96,440 Subpart G

– Fine, Limitation, Suspension and Termination Proceedings 34 CFR 668.90

– In itial and final decisions This section provides for an institution’s and a third

- part y servicer’s appea l, in writing to the Secretary , of a hearing official’s initial decision of a fine, limitation, suspension or termination hearing. Respondents Responses Hours Public institutions 4,312 8,071 1,820 34 CFR 668.96

– Reinstatement after termination This section stipulates the procedures that an institution or third

- party servicer, whose participation in Federal student aid programs has been terminated, must follow to be reinstated as a participating institution or third

- part y servicer. Respondents Responses Hours Public institutions 4,312 8,071 274 Subpart H

– Appeal Procedures for Audit Determinations and Program Review Determination 34 CFR 668.113

– Request for review This section stipulated the procedures that a n institution or third

- party servicer must follow to request a review b y the Secretary of a final audit or final program review determination. Respondents Responses Hours Public institutions 4,312 8,071 86 Subpart L

– Financial R esponsibility 34 CFR 668.171

– General This section describes the general standards institutions must meet to demonstrate it is financiall y responsible to participate in the Federal student aid programs. Respondents Responses Hours Public institutio ns 4,312 8,071 199ICRAS 1403 1845
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34 CFR 668.172

– Financial ratios This section describes the method used to calculate the institution’s composite score. Respondents Responses Hours Public institutions 4,312 8,071 199 34 CFR 6 68.173

– Refund reserve standards This section describes the method used to determine if an institution has sufficient cash reserves to meet the requirements for the timely return of Federal student aid program funds. Respondents Responses Hours Publ ic institutions 4,312 8,071 199 34 CFR 668.174

– Past performance This section describes how an institution’s past performance, or that of a person affiliated with the institution, will affect its ability to meet the general financial re sponsibility requirements to participate in the Federal student aid programs Respondents Responses Hours Public institutions 4,312 8,071 199 34 CFR 668.175

– Alternative standards and requirements This section describes how an inst itution that is not financially responsible under the general standards may

begin or continue to participate in the Federal student aid programs under the alternate standards of letters of credit or zone alternatives. Respondents Responses Hours Publ ic institutions 4,312 8,071 199 Subpart M

– Two Year Cohort Default Rates 34 CFR 668.181

– Purpose of this subpart This section describes the uses of the calculated cohort default rate for an institution. Respondents Responses Hour s Public institutions 4,312 8,071 510 34 CFR 668.182

– Definitions of terms used in this subpart This section describes the terms used in relation to the calculation of the cohort default rate for an institution. Respondents Response s HoursICRAS 1403 1845
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Public institutions 4,312 8,071 524 34 CFR 668.183

– Calculating and apply ing cohort default rates This section describes the methods used to identify the borrowers in repayment and in default, who are included in a specific co hort. Respondents Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.184

– Determining cohort default rates for institutions that have undergone a change in status This section describes the methods used to establish a cohort default rate for institutions that have undergone acquisition or merged, those who have acquired branches or additional locations, and those branches or locations that became freestanding. Respondents Responses Hours Public institutions 4 ,312 8,071 524 34 CFR 668.185

– Draft cohort default rates and your ability to challenge before official cohort default rates are issued. This section discusses how an institution will receive draft cohort default rates and the methods that c an be used to challenge the rate prior to official rates being calculated and released. Respondents Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.186

– Notice of your official cohort default rate This section descr ibes how institutions will receive official cohort default rates and provides the timeframe for submitting challenges to the data. Respondents Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.187

– Consequences of coh ort default rates on y our ability to participate in Title IV, HEA programs This section discusses how an institution that loses its eligibility to participate in specific Federal student aid programs and how an institution may regain its eligibility

. Res pondents Responses Hours Public institutions 4,312 8,071 524ICRAS 1403 1845
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34 CFR 668.188

– Preventing evasion of the consequences of cohort default rates This section discusses how institutions may be affected b y the loss of eligibility at anothe r institution under common ownership or management. Respondents Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.189

– General requirements for adjusting official cohort default rates and for appealing their consequen ces This section describes how institutions may request adjustments to or appeal their official cohort default rate. Respondents Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.190

– Uncorrected data adjustments This section describes the eligibility to raise this defense to correct an official cohort default rate. Respondents Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.191

– New data adjustments This section describes the e ligibility to raise this defense to correct an official cohort default rate. Respondents Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.192

– Erroneous data appeals This section describes the eligibility to raise th is defense to correct an official cohort default rate. Respondents Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.193

– Lo an servicing appeals This section describes the eligibility to raise this defense to correct an official cohort default rate. Respondents Responses Hours Public institutions 4,312 8,071 524ICRAS 1403 1845
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34 CFR 668.194

– Economically disadvantaged appeals This section describes the eligibility to raise this defense to correct an offici al cohort default rate. Respondents Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.195

– Participation rate index appeals This section describes the eligibility to raise this defense to correct an official cohort de fault rate. Respondents Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.196

– Average rate appeals This section describes the eligibility to raise this defense to correct an official cohort default rate. Respondent

s Responses Hours Public institutions 4,312 8,071 524 34 CFR 668.197

– Thirty

- or - fewer borrower appeals This section describes the eligibility to raise this defense to correct an official cohort default rate. Respondents Response s Hours Public institutions 4,312 8,071 524
TOTAL S Responses 322,864 Respondents 172,489 Burden Hours 655,024