Recordkeeping

• Statutory Authority

  • U.S. Code, Title 20—Education Chapter 28—Higher Education Resources and Student Assistance Subchapter IV—Student Assistance > Part G—General Provisions Relating to Student Assistance Programs § 1094(a)(3) Program participation agreements [HEA § 487(a)(3)]

• Regulations

  • 34 CFR 668.24

• ED References

  See also Subtopics for more specific references.

  • 2019-20 FSA Handbook, Vol. 6
  • 2018-19 FSA Handbook, Vol. 2

• NASFAA Publications and Articles

  • NASFAA AskRegs Knowledgebase

    Search or browse the Knowledgebase for answers to regulatory and compliance questions submitted by financial aid administrators.

  • NASFAA Compliance Engine

    The Compliance Engine is comprised of two modules: the Self-Evaluation Checklists which allows administrators to evaluate their programs in a centralized, shared online space, and the P&P Builder, a tool designed to assist institutions in the creation and maintenance of a policies and procedures manual. Along with an online space to update and maintain policies and procedures, the P&P Builder includes legislation and regulation associated with compliance with Title IV requirements.

  • NASFAA U Authorized Events

    NASFAA U Authorized Events are a comprehensive set of instructional materials for teaching financial aid concepts to groups of individuals. Materials include a study guide, instructor guide and accompanying presentation slides.

• Subtopics

  • Administrative records related to institutional eligibility, educational program eligibility, and Title IV participation

    • 668.24(a)
    • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • Closed branch records

    • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • Closed school records

    • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • Completion and graduation rate calculation documentation

    • 668.24(c)(1)(vii)

  • Direct Loan Program

    • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • Examination, availability, and sharing of records (cooperation with regulating agencies, loan servicers, and auditors)

    See also top list entry for Administrative Capability

    • 668.23(e)
    • 668.24(f)
    • 2019-20 FSA Handbook, Vol. 6, Ch. 1
    • 2018-19 FSA Handbook, Vol. 2, Ch. 7
    • NASFAA Data Sharing Decision Tree

  • Federal Trade Commission (FTC) information security requirements (Financial Services Act, Security Provisions; Financial Services Modernization Act)

    • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • FERPA protections, exemptions, right to review records, and documented consent to disclose

    • GEN-16-12
    • GEN-15-18
    • 2018-19 FSA Handbook, Vol. 2, Ch. 7

    • Model notification

      • FERPA Model Notification for Postsecondary Officials

  • Fiscal records related to receipt and expenditure of Title IV funds—general rule

    • 668.24(b)
    • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • FISCOP/FISAP

    • 674.19(d)(2)
    • 675.19(b)(3)
    • 676.19(b)(3)
    • Electronic Announcement, 7/26/19
    • 2019-20 FSA Handbook, Vol. 6, Ch. 1
    • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • FSEOG fiscal records

    • 676.19(b)(2)
    • 2019-20 FSA Handbook, Vol. 6, Ch. 1

  • FWS payment records

    • 675.19(b)(2)
    • 2019-20 FSA Handbook, Vol. 6, Ch. 1
    • 2019-20 FSA Handbook, Vol. 6, Ch. 2

  • Job Location and Development

    • 675.36

  • Maintenance (format and location)

    • E-Sign Act and electronic processes

      • GEN-01-06
      • 2018-19 FSA Handbook, Vol. 2, Ch. 7

    • Format

      • 2019-20 FSA Handbook, Vol. 6, Ch. 1
      • 2018-19 FSA Handbook, Vol. 2, Ch. 7

    • General Maintenance Requirements

      • 668.24(d)

    • Location

      • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • Pell Grant

    • 668.24
    • 690.81(a)
    • 690.82

  • Perkins Loans

    • General information

      • 2019-20 FSA Handbook, Vol. 6, Ch. 3

    • Collection costs charged to Fund

      • 674.47(f)

    • Fiscal records

      • 674.19(d)(1)
      • 674.19(e)(1)
      • 2019-20 FSA Handbook, Vol. 6, Ch. 1

    • Loan and disbursement records

      • 674.19(e)(2), (3)
      • 2019-20 FSA Handbook, Vol. 6, Ch. 3

    • Promissory note

      • 674.19(e)(4)
      • 2019-20 FSA Handbook, Vol. 6, Ch. 3

  • Reports, forms, and underlying data related to Title IV participation

    • 668.24(c)(1)(vi)
    • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • Retention requirements (timeframes)

    • 668.24(e)
    • 2019-20 FSA Handbook, Vol. 6, Ch. 1
    • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • Student-level records

    • Amounts disbursed and/or returned

      • 668.24(c)(1)(iv)

    • Loan counseling

      • 668.24(c)(1)(v)

    • Student (or parent borrower) eligibility and need

      • 668.24(c)(1)(i), (ii), (iii)
      • GEN-17-08
      • 2018-19 FSA Handbook, Vol. 2, Ch. 7

  • TEACH Grant

    • 686.36(a)
    • 686.38

  • Written agreements

    • 668.5(d)(3)(ii)