Loans, grants, scholarships and other financial aid programs covered in this records retention authorization include, but not limited to, the following: Federal Perkins Loans, Federal Work Study Loans, Federal Guaranteed Student/Stafford Loans and PLUS Loans, Subsidized and Unsubsidized Stafford Loans, Federal Family Educational Loans, College Work Study, Pell Grants, Supplemental Loan for Students, Ford Federal Direct Loans and 欧美口爆视频 funded student aid programs.
Citations: (34 CFR) 668.24, 674.19, 675.19, 676.19, 682.515, 690.82, 862.414, and 685.309
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- Student Loan Records/Folders
- Grant and Scholarship Student Records/Folders
- Program Records
- Fiscal Records
- National Student Clearinghouse Reports
ITEM NUMBER
1. Student Loan Records/Folders
These records represent loan documentation found in the student loan files of the Financial Aid Offices. The records document the borrower’s loan transactions including, but not limited to: the entrance and exit interview, student aid reports, application data verification forms, student and parent tax returns, transcripts, award letters, certificates, birth certificates, work study payroll, residency changes, students program of study, and other records as outlined in the Student Financial Aid Handbook under the General Records A School Must Maintain section.
Authorized Retention:
Retain for thirteen (13) years from the award year the loan was made, then destroy.
NOTE: Federal records retention requirements listed in the 34 CFR citations listed above for student financial aid records are three (3) year retention from the last date of the award year, in which the student last attended the 欧美口爆视频. At this time, the Campus Financial Aid Offices are unable to identify when a student is no longer enrolled at the 欧美口爆视频. Therefore, to ensure the 欧美口爆视频 is keeping aid records for the sufficient amount of time, the thirteen (13) year retention period is being used. When the Financial Aid Offices are able to identify last attendance dates, the retention period will revert to federal records retention requirements in force at the time.
2. Grant and Scholarship Student Records/Folders
These records represent grant and scholarship documentation found in the student files of the Financial Aid Offices. The records document grant and scholarship transactions including, but not limited to: the entrance and exit interview, student aid reports, application data verification forms, student and parent tax returns, transcripts, award letters, certificates, birth certificates, residency changes, students program of study, and other records.
Authorized Retention:
Retain for thirteen (13) years from the award year the loan was made, then destroy.
NOTE: Federal records retention requirements for student grants and scholarship aid records are three (3) years following the award year. However, because scholarships and grants are taken into consideration if students are also involved in getting financial aid loans (item 1) it becomes necessary to keep these records for the same time as item 1 records. When the Financial Aid Offices are able to identify last attendance dates, the retention period will revert to current federal records retention requirements.
These records document the 欧美口爆视频's eligibility to participate in the Student Financial Aids (SFA) program, administration of the SFA Program, financial responsibility and disbursement and delivery of SFA Program funds. Records include, but not limited to: program participation agreement, accrediting and licensing agency reviews, approvals and reports, audit and program review reports, self-evaluation reports, and other records as in regulations of various aid programs.
Authorized Retention:
Retain for three (3) years after the end of the award year, then destroy.
This records group includes records that demonstrate the proper use of Student Financial Aid (SFA) funds by the 欧美口爆视频. Records include, but not limited to: the Fiscal Operations Report (FISAP), financial records that reflect each SFA Program transaction, general ledger control accounts and related subsidiary accounts, bank statements on all accounts containing SFA funds, student accounts, cash payments, SFA payments, cash disbursements, refunds and repayments, work study payroll records, reconciliation reports, audit records, and other records that fall in this fiscal records category related to the SFA Programs.
Authorized Retention:
Retain for three (3) years following the award year the Fiscal Operations Report (FISAP) is filed with the Department of Education, then destroy.
5. National Student Clearinghouse Reports
Please see Academic Record Authorization No. 77-217, section 16, for more information.
This authorization supersedes authorization 74-66.
Reviewed 2019-08-05