Department of Education January 23, 2006 – Federal Register Recent Federal Regulation Documents

In accordance with the Privacy Act of 1974, as amended, (Privacy Act), the Chief Operating Officer for Federal Student Aid of the U.S. Department of Education (Department) publishes this notice of a new system of records entitled the Common Services for Borrowers (CSB) system (18-11-16). Over the next three to four years, the Department will consolidate the activities it carries out with regard to making and servicing loans, and collecting or otherwise resolving obligations owed by an individual with respect to a loan, grant, or scholarship program authorized by the Higher Education Act of 1965, as amended (HEA). The CSB system will contain records of an individual's loan, grant, or scholarship and of transactions performed by the Department to carry out these activities. Because many of these records are currently maintained in the systems of records entitled Title IV Program Files (18-11-05) and Student Financial Assistance Collection Files (18-11-07), the Department will delete these other systems of records after it has fully phased into the new CSB system of records all of the records that are currently maintained in these systems of records. The Department seeks comment on the proposed system of records described in this notice, in accordance with the requirements of the Privacy Act.

The IC Clearance Official, Regulatory Information Management Services, Office of the Chief Information Officer invites comments on the submission for OMB review as required by the Paperwork Reduction Act of 1995.