FSA Foreign Gifts Supporting Statement - Paperwork Reduction Act Burden Estimates

The Department of Education released a Paperwork Reduction Act supporting statement for the Federal Student Aid Foreign Gifts information collection. The document provides standardized burden estimates for the hours required for institutions to compile and submit foreign gift disclosures under Section 117 of the Higher Education Act.

Higher education institutions receiving federal student aid should review the burden estimates to verify they accurately reflect their administrative workload. Institutions with significant foreign gift activity may find the current estimates underestimate actual compliance burden and can submit comments through the established regulatory comment process.