How long to retain federal student financial aid (SFA) records
Use this page to determine how long to hold on to SFA records.
| Abbreviation | Meaning |
|---|---|
| AAR | Pursuant to athletic association rules |
| AAT | After application term |
| AFT | After first term of enrollment |
| AG | After graduation term or last term of attendance |
| AY | From award year |
| CC | After course completion |
| ET | End of term |
| P | Permanent |
| RD | From date of required disclosure |
| UA | Until admitted |
| UANS | Until administrative need is satisfied |
| UT | Until terminated by the student |
Federal student financial aid (SFA) records
| Record series title | Description | Retention period |
|---|---|---|
| Accrediting and licensing agency review, approvals, and reports | None | 3 years AY |
| Audit reports and school responses | None | 3 years AY |
| Records pertaining to financial responsibility and standards of administrative capability | None | 3 years AY |
| Program Participation Agreement | None | 3 years AY |
| Self-evaluation reports | None | 3 years AY |
| State agency reports | None | 3 years AY |
| Record series title | Description | Retention period |
|---|---|---|
| Application data submitted to the Department of Education or lender by the school on behalf of the student | None | 3 years AY |
| Federal Work-Study payroll records | None | 3 years AY |
| Ledgers identifying SFA transactions | None | 3 years AY |
| Records of SFA program transactions | None | 3 years AY |
| Records of student accounts | None | 3 years AY |
| Records supporting data on required reports | Required reports: SFA program reconcillation reports, audit reports and school responses, Pell Grant statements of accounts, accrediting and licensing agency reports | 3 years AY |
| Record series title | Description | Retention period |
|---|---|---|
| Application data submitted to the Department of Education or lender by the school on behalf of the student | None | 3 years AY |
| Data used to establish student’s admission, enrollment status, and period of enrollment | None | 3 years AY |
| Date and amount of disbursements | None | 3 years AY |
| Documentation of student’s eligibility | None | 3 years AY |
| Documentation of student’s program of study and enrolled courses | None | 3 years AY |
| Documentation of student’s satisfactory academic progress | None | 3 years AY |
| Documentation related to the receipt of aid | May include: amount of grant, loan, or FWS award and calculations used to determine aid amounts | 3 years AY |
| Documentation of initial or exit loan counseling | None | 3 years AY |
| Documentation supporting the school’s calculation of its completion and graduation or transfer-out rate | None | 3 years AY |
| Documents used to verify applicant’s data | None | 3 years AY |
| Financial aid history for transfer students | None | 3 years AY |
| Reports and forms used for participation in the SFA program | None | 3 years AY |
| Student aid report (SAR) or institutional student information records (ISIR) | None | 3 years AY |
| Record series title | Description | Retention period |
|---|---|---|
| Borrower eligibility records | None | 3 years AY |
| Campus-based aid | Perkins loan, SEOG, and Federal Work-Study | 3 years AY |
| FFEL and Direct Loans | None | 3 years AY |
| Fiscal Operations Report and Application to Participate (FISAP) | None | 3 years AY |
| Pell Grant | None | 3 years AY |
| Perkins repayment records | None | 3 years form date loan assign, cancelled, or repaid |
| Perkins original promissory notes | None | Until loan is satisfied, or documents are needed to enforce obligation |
| All other records and reports | None | 3 years AY |