RRS_Series: Financial Aid Program: Federal Perkins Loan

Activity
III.06. ADMINISTRATION OF STUDENT AFFAIRS/Scholarships and Financial Aid
Series Name
Financial Aid Program: Federal Perkins Loan
Series ID
306-20-115
Description

Document administation of the Federal Perkins Loan program (note: the Federal Perkins Loan Program has effectively ceased as of late 2017).

These records found in all media (paper, digital, or other) may include but are not limited to:

  • Perkins repayment records, cinluding the original repayment schedule,
  • Perkins original promissory note 
  • related documentation and correspondence, including e-mail.

 

Retention and Disposal Instructions

(a) 3 years from date loan assigned, cancelled, or repaid for Perkins repayment records, purge;

(b) until loan is satisfied for Perkins original promissory note, purge;

(c) 3 years after award year for all other records, purge.

Exception: In the event of a subpoena, audit, legal hold, public records or similar state or federal information request, halt until further instructed any scheduled disposal activities, including purging or transferring material to University Archives.

Custodian
Business Affairs Office
Citations
34 CFR 674.19 - Fiscal procedures and records
OAR Predecessors
OAR 166-475-0055 (2) Borrowers Loan Records
OAR 166-475-0055 (13) Perkins Loan Program Records
Admin notes
From my notes "Until all loans made on the promissory note or MPN are satisfied, accepted for assignment by the Department, or until the original note or MPN is needed to enforce loan collection, , unless administrative or business use persists, purge. "