Agency Information Collection Activities; Submission to the Office of Management and Budget for Review and Approval; Comment Request; William D. Ford Federal Direct Loan Program (Direct Loan Program) Promissory Notes and Related Forms
Published Date: 6/26/2026
Notice
Summary
The Department of Education is updating the forms for the William D. Ford Federal Direct Loan Program, which affects students, schools, and loan servicers. They want your feedback by July 27, 2026, to make sure the forms are clear and easy to use without causing extra hassle. This update aims to keep the loan process smooth and efficient for over 12 million annual responses.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Direct Loan Promissory Note Changes
The Department will revise the William D. Ford Federal Direct Loan promissory note and related forms to align with the One Big Beautiful Bill Act (signed July 4, 2025). Those statutory changes affect borrower eligibility, loan terms and conditions, and borrowers' rights and responsibilities for Direct Loans received on or after July 1, 2026.
Large Paperwork Burden on Respondents
The Department estimates this revised collection will involve 12,422,843 annual responses and 6,211,424 annual burden hours across respondents that include the private sector, state/local/tribal governments, and individuals and households. These paperwork hours reflect the administrative burden tied to revising and using the promissory notes and related forms.
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Key Dates
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