Records Retention Schedules
The revised schedules for the retention and/or disposition of the following university system records are based upon the requirements of the Georgia Records Act (O.C.G.A. 50-18-90 et seq.). This version includes revised schedules as filed with the Division of Archives and History, Office of Secretary of State as of April 1, 2009.
K5 Federal Title IV, Program Records, Institutional Records
Explanation: Records document eligibility to participate and school's administration of Federal Title IV and programs. Records include Institutional Program Participation Agreement; recertification; education program eligibility; accreditation reviews; and reports; state agency reports; audits and program reviews; other records, as specified in regulation, that pertain to factors of financial responsibility and standards of administrative capability; and consortia agreements between and among schools.
Record Copy: Financial Aid
Retention: 7 years after expiration for agreements; 5 years after the end of the award year in which the student borrower last attended the institution for records pertaining to borrower eligibility; (c) 5 years after the end of the award year in which the FISAP is submitted for the Fiscal Operations Report, Application to Participate and supporting documentation. For records involved in any loan, claim, or expenditure questioned by a Title IV, HEA program audit or review, investigation, or other review: until the resolution of that questioned loan, claim, or expenditure; or the end of the retention period applicable to the record, whichever is longer.
Citation or Reference: O.C.G.A. 9-3-24, 34 C.F.R. 676