S.C. Code Regs. § § 12-809.11
Current through Register Vol. 48, 12, December 27, 2024
Section 12-809.11 - Student Financial Aid RecordsA. Description: Used to maintain the official record of accounts for grants and loans. The series consists of applications, tax return for student and/or parent, verification work sheet, student aid report, student loan application and promissory note, federal work study packet, financial aid approved or rejected, and related information.B. Retention: (1) Approved Financial Aid Records: (a) Student Loans: Active File: Until loan is cancelled or repaid. Inactive File: 3 years; destroy.(b) Student Grants: 3 years after the last day of the award year or 3 years after the date the institution files its fiscal operations report for that year; destroy.(2) Rejected Financial Aid Records: 1 year; destroy.S.C. Code Regs. § 12-809.11
Added by State Register Volume 18, Issue No. 6, eff June 24, 1994. Amended by State Register Volume 27, Issue No. 5, eff May 23, 2003.