AGENCY: Board of Regents (Utah). Higher Education Assistance Authority

SERIES: 12335
TITLE: Financial aid applications and promissory notes
DATES: 1985-
ARRANGEMENT: Numerical by batch number

DESCRIPTION: Promissory note loan data, loan disclosure data, applications for Stafford student loans, SLS (Supplemental Loans for Students) PLUS loans, loan consolidation, verification certificates, and copies of promissory notes.for initial application and loan of funds to students. Original records held by the lender, which is sometimes an educational institution.

RETENTION

Retain for 25 year(s)

DISPOSITION

Destroy.

RETENTION AND DISPOSITION AUTHORIZATION

These records are in Archives' permanent custody.

APPROVED: 12/1993

FORMAT MANAGEMENT

Paper copy: Retain in Office for 2 years and then transfer to State Records Center. Retain in State Records Center for 23 years and then destroy.

APPRAISAL

Administrative Fiscal Legal

This disposition is based on 34 CFR 682.414, which states that loan information must be retained "for at least 5 years after the loan is paid in full or has been determined to be uncollectable." The administrative need is due to possible loan deferments which could extend the payment period.

PRIMARY DESIGNATION

Exempt. Family Education Rights and Privacy (FERPA) 34 CFR 99.

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