Federal Student Aid Records

Federal student financial aid (SFA) records

SFA program records
Record series titleDescriptionRetention period
Accrediting and licensing agency review, approvals, and reportsNone3 years AY
Audit reports and school responsesNone3 years AY
Records pertaining to financial responsibility and standards of administrative capabilityNone3 years AY
Program Participation AgreementNone3 years AY
Self-evaluation reportsNone3 years AY
State agency reportsNone3 years AY
SFA fiscal records
Record series titleDescriptionRetention period
Application data submitted to the Department of Education or lender by the school on behalf of the studentNone3 years AY
Federal Work-Study payroll recordsNone3 years AY
Ledgers identifying SFA transactionsNone3 years AY
Records of SFA program transactionsNone3 years AY
Records of student accountsNone3 years AY
Records supporting data on required reportsRequired reports: SFA program reconcillation reports, audit reports and school responses, Pell Grant statements of accounts, accrediting and licensing agency reports3 years AY
SFA recipient records
Record series titleDescriptionRetention period
Application data submitted to the Department of Education or lender by the school on behalf of the studentNone3 years AY
Data used to establish student’s admission, enrollment status, and period of enrollmentNone3 years AY
Date and amount of disbursementsNone3 years AY
Documentation of student’s eligibilityNone3 years AY
Documentation of student’s program of study and enrolled coursesNone3 years AY
Documentation of student’s satisfactory academic progressNone3 years AY
Documentation related to the receipt of aidMay include: amount of grant, loan, or FWS award and calculations used to determine aid amounts3 years AY
Documentation of initial or exit loan counselingNone3 years AY
Documentation supporting the school’s calculation of its completion and graduation or transfer-out rateNone3 years AY
Documents used to verify applicant’s dataNone3 years AY
Financial aid history for transfer studentsNone3 years AY
Reports and forms used for participation in the SFA programNone3 years AY
Student aid report (SAR) or institutional student information records (ISIR)None3 years AY
Requirements for specific aid
Record series titleDescriptionRetention period
Borrower eligibility recordsNone3 years AY3 years AY
Campus-based aidPerkins loan, SEOG, and Federal Work-Study3 years AY
FFEL and Direct LoansNone3 years AY
Fiscal Operations Report and Application to Participate (FISAP)None3 years AY3 years AY
Pell GrantNone3 years AY
Perkins repayment recordsNone3 years form date loan assign, cancelled, or repaid
Perkins original promissory notesNoneUntil loan is satisfied, or documents are needed to enforce obligation
All other records and reportsNone3 years AY3 years AY
  1. End of award year
  2. Of student’s last attendance
  3. Of report submission