Notice of Submission for OMB Review; Federal Student Aid; Direct Loan Income Contingent Repayment Plan Alternative Documentation of Income, 30265-30266 [2012-12416]

Download as PDF Federal Register / Vol. 77, No. 99 / Tuesday, May 22, 2012 / Notices Frequency: All respondents will receive and be asked to complete the online survey. A randomly selected subset of 36 respondents will be asked to participate in follow-up interviews. Average Time Per Response: 1 hour 20 minutes. Estimated Total Burden Hours: 303.8. Total Burden Cost (capital/startup): N/A. Total Burden Cost (operating/ maintenance): N/A. Dated: May 14, 2012. Marlene Zakai, Deputy Chief of Staff for Management. [FR Doc. 2012–12300 Filed 5–21–12; 8:45 am] BILLING CODE 6050–$$–P DEPARTMENT OF DEFENSE GENERAL SERVICES ADMINISTRATION NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [OMB Control No. 9000–0163; Docket 2012– 0076; Sequence 6] Submission for OMB Review; Small Business Size Representation Department of Defense (DOD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA). ACTION: Notice of request for an extension to an existing OMB clearance. AGENCY: Under the provisions of the Paperwork Reduction Act, the Regulatory Secretariat will be submitting to the Office of Management and Budget (OMB) a request for approval of a previously approved information collection requirement regarding small business size representation. A notice was published in the Federal Register at 77 FR 13329, on March 6, 2012. No comments were received. DATES: Submit comments on or before: June 21, 2012. ADDRESSES: Submit comments identified by Information Collection 9000–0163, Small Business Size Representation, by any of the following methods: • Regulations.gov: https:// www.regulations.gov. Submit comments via the Federal eRulemaking portal by searching the OMB control number. Select the link ‘‘Submit a Comment’’ that corresponds with ‘‘Information Collection 9000–0163, Small Business Size Representation’’. Follow the instructions provided at the ‘‘Submit a Comment’’ screen. Please include your srobinson on DSK4SPTVN1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 17:20 May 21, 2012 Jkt 226001 name, company name (if any), and ‘‘Information Collection 9000–0163, Small Business Size Representation’’ on your attached document. • Fax: 202–501–4067. • Mail: General Services Administration, Regulatory Secretariat (MVCB), 1275 First Street NE., Washington, DC 20417. ATTN: Hada Flowers/IC 9000–0163, Small Business Size Representation. Instructions: Please submit comments only and cite Information Collection 9000–0163, Small Business Size Representation, in all correspondence related to this collection. All comments received will be posted without change to https://www.regulations.gov, including any personal and/or business confidential information provided. FOR FURTHER INFORMATION CONTACT: Mr. Karlos Morgan, Procurement Analyst, Office of Governmentwide Acquisition Policy, GSA (202) 501–0044 or karlos.morgan@gsa.gov. SUPPLEMENTARY INFORMATION: A. Purpose Federal Acquisition Regulation (FAR) 19.301 and the FAR clause at 52.219–28, Post-Award Small Business Program Representation implement the Small Business Administration (SBA) Final Rule (71 FR 66434), Small Business Size Regulations; Size for Purposes of Governmentwide Acquisition Contracts, Multiple Award Schedule Contracts and Other Long-Term Contracts; 8(a) Business Development/Small Disadvantaged Business; Business Status Determinations. FAR 19.301 and the FAR clause at 52.219–28, requires that contractors represent size status by updating their representations and certifications at the prime contract level in the Online Representations and Certifications Application (ORCA)., and notify the contracting office that it has made the required representation. The purpose of implementing small business rerepresentation in the FAR is to ensure that small business size status is accurately represented and reported over the life of long-term contracts. The FAR also provides for provisions designed to ensure more accurate reporting of size status for contracts that are novated, merged or acquired by another business. This information is used by the SBA, Congress, Federal agencies and the general public for various reasons such as determining if agencies are meeting statutory goals, setaside determinations, and market research. B. Annual Reporting Burden Respondents: 10,000. PO 00000 Frm 00006 Fmt 4703 Sfmt 4703 30265 Responses per Respondent: 1. Hours per Response: 0.5. Total Burden Hours: 5,000. Obtaining Copies of Proposals: Requesters may obtain a copy of the information collection documents from the General Services Administration, Regulatory Secretariat (MVCB), 1275 First Street NE., Washington, DC 20417, telephone (202) 501–4755. Please cite OMB Control No. 9000–0163, Small Business Size Rerepresentation, in all correspondence. Dated: May 16, 2012. Laura Auletta, Director, Office of Governmentwide Acquisition Policy, Office of Acquisition Policy, Office of Governmentwide Policy. [FR Doc. 2012–12331 Filed 5–21–12; 8:45 am] BILLING CODE 6820–EP–P DEPARTMENT OF EDUCATION Notice of Submission for OMB Review; Federal Student Aid; Direct Loan Income Contingent Repayment Plan Alternative Documentation of Income This form serves as the means by which a borrower who is repaying Direct Loan Program loans under the Income-Contigent Repayment (ICR) Plan or the Income-Based Repayment (IBR) Plan provides the U.S. Department of Education (the Department) with alternative documentation of the borrower’s income. For additional information, see the Abstract below. DATES: Interested persons are invited to submit comments on or before June 21, 2012. ADDRESSES: Written comments regarding burden and/or the collection activity requirements should be electronically mailed to ICDocketMgr@ed.gov or mailed to U.S. Department of Education, 400 Maryland Avenue SW., LBJ, Washington, DC 20202–4537. Copies of the proposed information collection request may be accessed from https://edicsweb.ed.gov, by selecting the ‘‘Browse Pending Collections’’ link and by clicking on link number 04793. When you access the information collection, click on ‘‘Download Attachments’’ to view. Written requests for information should be addressed to U.S. Department of Education, 400 Maryland Avenue SW., LBJ, Washington, DC 20202–4537. Requests may also be electronically mailed to ICDocketMgr@ed.gov or faxed to 202–401–0920. Please specify the complete title of the information collection and OMB Control Number when making your request. SUMMARY: E:\FR\FM\22MYN1.SGM 22MYN1 30266 Federal Register / Vol. 77, No. 99 / Tuesday, May 22, 2012 / Notices Individuals who use a telecommunications device for the deaf (TDD) may call the Federal Information Relay Service (FIRS) at 1–800–877– 8339. Section 3506 of the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35) requires that Federal agencies provide interested parties an early opportunity to comment on information collection requests. The Director, Information Collection Clearance Division, Privacy, Information and Records Management Services, Office of Management, publishes this notice containing proposed information collection requests at the beginning of the Departmental review of the information collection. 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: Direct Loan Income Contingent Repayment Plan Alternative Documentation of Income. OMB Control Number: 1845–0016. Type of Review: Revision. Total Estimated Number of Annual Responses: 294,924. Total Estimated Number of Annual Burden Hours: 73,731. Abstract: This form serves as the means by which a borrower who is repaying Direct Loan Program loans under the Income-Contigent Repayment (ICR) Plan or the Income-Based Repayment (IBR) Plan provides the U.S. Department of Education (the Department) with alternative documentation of the borrower’s income. If the borrower’s adjusted gross income (AGI) is not available from the IRS, or if the Department believes that the borrower’s most recently reported AGI does not accurately reflect the borrower’s current income. Under the Direct Loan Program regulations, a borrower’s AGI is used to calculate the monthly loan repayment amount under the ICR and IBR plans. srobinson on DSK4SPTVN1PROD with NOTICES SUPPLEMENTARY INFORMATION: VerDate Mar<15>2010 17:20 May 21, 2012 Jkt 226001 Dated: May 17, 2012. Darrin A. King, Director, Information Collection Clearance Division, Privacy, Information and Records Management Services, Office of Management. [FR Doc. 2012–12416 Filed 5–21–12; 8:45 am] BILLING CODE 4000–01–P DEPARTMENT OF EDUCATION Annual Updates to the Income Contingent Repayment (ICR) Plan Formula for 2012; William D. Ford Federal Direct Loan Program Federal Student Aid, Department of Education. ACTION: Notice. AGENCY: Catalog of Federal Domestic Assistance (CFDA) Number: 84.063. SUMMARY: The Secretary announces the annual updates to the ICR plan formula for 2012. Under the William D. Ford Federal Direct Loan (Direct Loan) Program, borrowers may choose to repay their loans (Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans made to graduate or professional students, and Direct Consolidation Loans) under the ICR plan, which bases the repayment amount on the borrower’s income, family size, loan amount, and the interest rate applicable to each loan. Each year, we adjust the formula for calculating a borrower’s ICR payment to reflect changes due to inflation. This notice contains the adjusted income percentage factors for 2012, examples of how the calculation of the monthly ICR amount is performed, a constant multiplier chart for use in performing the calculations, and charts showing sample repayment amounts based on the adjusted ICR plan formula. The adjustments to the income percentage factors for the ICR plan formula, contained in this notice, are effective for the period from July 1, 2012 to June 30, 2013. FOR FURTHER INFORMATION CONTACT: Ian Foss, U.S. Department of Education, 830 First St. NE., Room 114I1, Washington, DC 20202. Telephone: (202) 377–3681 or by email: ian.foss@ed.gov. If you use a telecommunications device for the deaf (TDD) or a text telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1–800–877– 8339. Individuals with disabilities can obtain this document in an accessible format (e.g., braille, large print, audiotape, or compact diskette) on request to the contact person listed under FOR FURTHER INFORMATION CONTACT in this section of the notice. PO 00000 Frm 00007 Fmt 4703 Sfmt 4703 Direct Loan Program borrowers may choose to repay their Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans made to graduate or professional students, and Direct Consolidation Loans under the ICR plan. This notice contains the following four attachments: • Attachment 1—Income Percentage Factors for 2012 • Attachment 2—Constant Multiplier Chart for Use in Calculating the Monthly ICR Amount • Attachment 3—Examples of the Calculations of Monthly Repayment Amounts • Attachment 4—Charts Showing Sample Repayment Amounts for Single and Married Borrowers In Attachment 1, we have updated the income percentage factors to reflect changes based on inflation. Specifically, we have revised the table of income percentage factors by changing the dollar amounts of the incomes shown by a percentage equal to the estimated percentage change in the Consumer Price Index for all urban consumers from December 2011 to December 2012. In Attachment 2, we provide a constant multiplier chart for a 12-year loan amortization. Further, in Attachment 3, we provide examples of monthly repayment amount calculations. Finally, in Attachment 4, we provide two charts that show sample repayment amounts for single and married or head-ofhousehold borrowers at various income and debt levels based on the updated income percentage factors. The updated income percentage factors reflected in Attachment 1 may cause a borrower’s payments to be lower than they were in prior years (even if the borrower’s income remains the same as the prior year). However, the revised repayment amount more accurately reflects the impact of inflation on a borrower’s current ability to repay. Electronic Access to This Document: The official version of this document is the document published in the Federal Register. Free Internet access to the official edition of the Federal Register and the Code of Federal Regulations is available via the Federal Digital System at: www.gpo.gov/fdsys. At this site you can view this document, as well as all other documents of this Department published in the Federal Register, in text or Adobe Portable Document Format (PDF). To use PDF you must have Adobe Acrobat Reader, which is available free at the site. You may also access documents of the Department published in the Federal Register by using the article search feature at: www.federalregister.gov. SUPPLEMENTARY INFORMATION: E:\FR\FM\22MYN1.SGM 22MYN1

Agencies

[Federal Register Volume 77, Number 99 (Tuesday, May 22, 2012)]
[Notices]
[Pages 30265-30266]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-12416]


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DEPARTMENT OF EDUCATION


Notice of Submission for OMB Review; Federal Student Aid; Direct 
Loan Income Contingent Repayment Plan Alternative Documentation of 
Income

SUMMARY: This form serves as the means by which a borrower who is 
repaying Direct Loan Program loans under the Income-Contigent Repayment 
(ICR) Plan or the Income-Based Repayment (IBR) Plan provides the U.S. 
Department of Education (the Department) with alternative documentation 
of the borrower's income. For additional information, see the Abstract 
below.

DATES: Interested persons are invited to submit comments on or before 
June 21, 2012.

ADDRESSES: Written comments regarding burden and/or the collection 
activity requirements should be electronically mailed to 
ICDocketMgr@ed.gov or mailed to U.S. Department of Education, 400 
Maryland Avenue SW., LBJ, Washington, DC 20202-4537. Copies of the 
proposed information collection request may be accessed from https://edicsweb.ed.gov, by selecting the ``Browse Pending Collections'' link 
and by clicking on link number 04793. When you access the information 
collection, click on ``Download Attachments'' to view. Written requests 
for information should be addressed to U.S. Department of Education, 
400 Maryland Avenue SW., LBJ, Washington, DC 20202-4537. Requests may 
also be electronically mailed to ICDocketMgr@ed.gov or faxed to 202-
401-0920. Please specify the complete title of the information 
collection and OMB Control Number when making your request.

[[Page 30266]]

    Individuals who use a telecommunications device for the deaf (TDD) 
may call the Federal Information Relay Service (FIRS) at 1-800-877-
8339.

SUPPLEMENTARY INFORMATION: Section 3506 of the Paperwork Reduction Act 
of 1995 (44 U.S.C. chapter 35) requires that Federal agencies provide 
interested parties an early opportunity to comment on information 
collection requests. The Director, Information Collection Clearance 
Division, Privacy, Information and Records Management Services, Office 
of Management, publishes this notice containing proposed information 
collection requests at the beginning of the Departmental review of the 
information collection. 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: Direct Loan Income Contingent Repayment Plan 
Alternative Documentation of Income.
    OMB Control Number: 1845-0016.
    Type of Review: Revision.
    Total Estimated Number of Annual Responses: 294,924.
    Total Estimated Number of Annual Burden Hours: 73,731.
    Abstract: This form serves as the means by which a borrower who is 
repaying Direct Loan Program loans under the Income-Contigent Repayment 
(ICR) Plan or the Income-Based Repayment (IBR) Plan provides the U.S. 
Department of Education (the Department) with alternative documentation 
of the borrower's income. If the borrower's adjusted gross income (AGI) 
is not available from the IRS, or if the Department believes that the 
borrower's most recently reported AGI does not accurately reflect the 
borrower's current income. Under the Direct Loan Program regulations, a 
borrower's AGI is used to calculate the monthly loan repayment amount 
under the ICR and IBR plans.

    Dated: May 17, 2012.
Darrin A. King,
Director, Information Collection Clearance Division, Privacy, 
Information and Records Management Services, Office of Management.
[FR Doc. 2012-12416 Filed 5-21-12; 8:45 am]
BILLING CODE 4000-01-P
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