AGENCY: Board of Regents (Utah). Higher Education Assistance Authority
SERIES: 12627
TITLE: Defaulted borrower payments
DATES: 1977-
ARRANGEMENT: Chronological by fiscal year
DESCRIPTION: Check copies, computer reports, and adjustments to borrower accounts for payments made on defaulted loans.
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: Retain in Office for 2 years and then transfer to State Records Center. Retain in State Records Center for 23 years and then destroy.
Computer data files: Retain in Office until administrative need ends and then delete.
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 Educational Rights and Privacy (FERPA) 34 CFR 99.