[Oasfaa] Records retention

[Schmerer, Mendy M. (HSC)]

Hello on this not-fall-like Friday afternoon!

For whatever reason - years of "that's how we've always done it" logic, I suppose - we've collectively been operating under the assumption that records retention requirements dictate that the retention period is 7 years, not the 3 year minimum discussed in Volume 2, Chapter 7<https://ifap.ed.gov/fsahandbook/attachments/1718FSAHbkVol2Master.pdf> of the FSA Handbook, starting at page 2-188. Even with reading the various start dates of the 3 year period, this almost seems to short. I realize so very many things are electronically captured, but is my paranoia showing?

For the purposes of best practices, what all do you do? Do you "just" maintain the 3 year minimum? Do you have a longer term that you set by your office policy? And if so, what is it?

Thanks for your insight, and have a great weekend!

Mendy Schmerer, M.Ed.
Director, Office of Student Financial Aid
University of Oklahoma Health Sciences Center
1106 N. Stonewall, Rm 301
Oklahoma City, OK  73117
(405) 271-2118, x 48817 (p)
(405) 271-5446 (f)
Mendy-Schmerer at ouhsc.edu<mailto:Mendy-Schmerer at ouhsc.edu>
http://www.ouhsc.edu/financialservices/SFA/

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