UNIVERSITY OF WISCONSIN River Falls

Financial Aid

I. INTRODUCTION AND PURPOSE
The University of Wisconsin System comprises fifteen distinct institutions, many of which create and receive records that are similar in purpose and utility. In the interest of efficiency, therefore, this records schedule identifies five categories of records that are common to all University of Wisconsin institutions, so as to avoid making each institution secure a distinct retention schedule for the same categories of records.

Financial aid includes programming and funding from federal and state government and some private donors. The Higher Education Act (HEA) of 1965is landmark national higher education legislation passed by Congress and signed by President Lyndon B. Johnson in1965, as well as subsequent amendments and reauthorizing (extending) legislation of the statute. Title IV of the HEA authorizes the majority of the nation's federal post secondary student financial aid programs and mandates that they be regulated and administered by the U.S. Secretary of Education.The HEA is effective for approximately five years,requiring Congress to reauthorize it every five years or to extend the legislation for up to one additional year. Major federal financial aid programs included in the HEA are the Perkins Loan, Federal Supplemental Education Opportunity Grant (FSEOG), Federal Work-Study (FWS) and Pell Grants. There also exist many other federal programs such as Federal Family Educational Loan (FFEL) Program which includes Stafford Loans, Leveraging Educational Assistance Partnership (LEAP), and Teacher Education Assistance for College and Higher Education (TEACH) Grant Program, National Science and Mathematics Access to Retain Talent Grant (SMART) and other aid programs.

Some campuses have Title VII and Title VIII loan programs which include Primary Care,Health Professions, Nursing and Nurse Faculty Student Loan. Title VII and VIII loans are administered at the campus level and regulated by the U.S. Department of Health and Human Services.

Some campuses have Institutional Student Loans which are administered on campus following the donor's wishes. This includes both long term and short term loans. Programs in this general records schedule includes not only various Federal programs through the Department of Education and Department of Health and Human Services, but also through the State of Wisconsin.

In Wisconsin the Higher Educational Aids Board (HEAB) provides programming and funding for financial aid. The various programs offered through HEAB include five (5) grant programs and four (4) scholarship programs. The grant programs include the Wisconsin Higher Education Grant, Wisconsin Tuition Grant, Talent Incentive Program Grant, Indian Student Assistance Grant, Minority Undergraduate Retention Grant, and the Hearing and Visually Handicapped Student Grant. The scholarship programs include the Academic Excellence Scholarship, Minority Teacher Loan, Nursing Student Loan and the Teacher of the Visually Impaired Loan.

The record schedule is divided into five categories: student records, fiscal records,general institutional records, reporting records and student employment records.

II. SCOPE
The record schedules described within this document include the following records:

I. FINANICAL AID STUDENT RECORDS

  • GENERAL STUDENT RECORDS - FINANCIAL AID
  • GENERAL STUDENT FINANCIAL AID RECORDS - FOR STUDENT WITHOUT LOANS
  • STUDENT INFORMATION SYSTEM (SIS) DATABASE
  • GENERAL STUDENT FINANCIAL AID RECORDS - FOR STUDENT WITHOUT LOANS

II. FISCAL RECORDS

  • STUDENT ACCOUNTS RECORDS
  • STUDENT ACCOUNTS - FOR STUDENT WITHOUT LOANS

III. GENRAL INSTITUTIONAL RECORDS

  • PROGRAM PARTICIPATION AGREEMENT
  • PROGRAM REVIEW RECORDS
  • ACCREDITING AND LICENSING AGENCY REVIEWS, APPROVALS AND REPORTS
  • REMOTE SITES REPORT
  • GRANT ADMINISTRATIVE FILES
  • STUDENT GRANT VOUCHERS
  • MILITARY EDUCATION BENEFITS AND SUPPORTING RECORDS
  • STUDENT LOAN PROGRAM ADMINISTRATION
  • REPORT TO HIGHER LEARNING COMMISSION

IV. REPORTING RECORDS

  • FISCAL OPERATIONS REPORT AND APPLICATION TO PARTICIPATE (FISAP)
  • ANNUAL OPERATING REPORT (AOR)
  • STUDENT LOAN REPAYMENT RECORDS
  • PERKINS ORIGINAL PROMISSORY NOTE
  • STUDENT LOAN CASE FILES (NON-PERKINS)
  • BUREAU OF INDIAN AFFAIRS CERTIFICATIONS
  • FEDERAL PELL GRANT ELECTRONIC STATEMENTS OF ACCOUNT (ESOA)
  • RECONCILIATION REPORTS FOR TITLE IV AND STATE PROGRAMS STATE GRANT AND SCHOLARSHIP AWARD ROSTER AND REPORTS
  • FEDERAL WORK-STUDY ADMINISTRATIVE RECORDS

V. STUDENT EMPLOYMENT AND STUDENT WORK STUDY

  • WORK STUDY AND STUDENT ASSISTANT APPLICATIONS(NOT HIRED)
  • STUDENT WORKERS PERSONNEL FILES (OFFICIAL)
  • STUDENT WORKERS PERSONNEL FILES (DEPARTMENTAL)

III. GUIDELINES APPLICABLE TO THIS GRS:

A. Preservation of Historical Records.
Historic records are those that must be retained indefinitely because of their historical character. Historic records stored only in electronic form must comply with the legal requirements set forth in: Regent Policy Document 3-2: University of Wisconsin System Public Records Management; and Chapter Adm 12: Electronic Records Management-Standards and Requirements. It is expected that financial aid records will rarely be classified as historical documents.

B. Use of the Records Series Approach.
The records schedules included within this document were developed using the "records series" approach defined in Wis. Stat. § 16.61(2) (c).

C. Destruction Authorization.
The records schedules included within this document establish minimum retention periods for each type of record. The disposition of each record is assumed to be destruction after its minimum retention period. However, expired records may be retained beyond the retention date in the discretion of University administrators.

D. Records to be Retained.
In accordance with Wisconsin law, records to be retained are those defined as in the Wisconsin Statutes as "public records' that are made or received by any university employee in connection with the transaction of university business. See Wis. Stat. §16.61(2) (b). Public records do not include the following:

1. Duplicates maintained by a university employee only for convenience or reference and for no other substantive purpose.

2. Unsolicited notices or invitations which are not related to any official action taken,proposed, or considered by the University of Wisconsin System.

3. Drafts, notes, preliminary computations and like materials intended for personal use by an individual university employee or prepared by a university employee in the name of the person for whom the employee is working.

4. Routing slips and envelopes.

5. Materials that are purely the personal property of a university employee and have no relation to his or her office.

Records that are not "public records" under the definition may be destroyed at the discretion of university administrators.

IV. CONDITIONS AFFECTING FINAL DISPOSITION
All recommended dispositions provided within this schedule may be carried out by University of Wisconsin administrators except that records may not be destroyed where required to be retained by law or policy including, but not limited to, a pending public records request, lawsuit, or audit.All records in this Financial Aid General Records Schedule are subject to federal audit on a periodic basis and need to be retained until the completion of audits and any findings are resolved as well as the additional holding period as detailed throughout this document.