RRS_Series: Financial Aid Program

Activity
III.06. ADMINISTRATION OF STUDENT AFFAIRS/Scholarships and Financial Aid
Series Name
Financial Aid Program
Series ID
306-20-105
Description

Document eligibility and application for title IV, Higher Education Act (HEA) program funds (also known as Federal Student Aid (FSA) funds).

These records found in all media (paper, digital, or other) must document:

  • the school's eligibility to participate in the title IV, HEA programs or FSA programs;
  • the eligibility of its educational programs for title IV, HEA program funds or FSA program funds;
  • the administration of the title IV, HEA or FSA programs evidenced by documents;
  • the school's financial responsibility;
  • information included in any application submitted for HEA or  FSA program funds (Fisal Operations Report, also known as FISAP, and supporting documentation);
  • the school's disbursement and delivery of title IV, HEA or FSA program funds.

Types of documentation may include but are not limited to:

  • accrediting and licensing agencies reviews and reports;
  • self-evaluation and annual reports;
  • program participation agreements;
  • related documentation and correspondence, including e-mail.

 

 

 

 

 

Retention and Disposal Instructions

(a) retain annual financial aid reports and data not reported to Institutional Research, 10 years, purge;

(b) 3 years from end of the award year in which the report was submitted for the FISAP and supporting records, purge.

(b) 3 years after award year for all other records, unless administrative or business use persists, 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
Office of Financial Aid and Scholarships
Citations
34 CFR 668.24 - Record retention and examinations
OAR Predecessors
OAR 166-475-0055 (4) Federal Title IV, Program Records, Institutional Records
OAR 166-475-0055 (6) Financial Aid Annual Reports