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.