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  1. Student Loan Account
  2. Student Loan Original Promissory Note



1. Student Loan Account

These records document the repayment history of loans made to students by the Financial Aid Offices. Loans may be either federally or state financed/insured, or entirely University funded and administered. The loan folder may include, but is not limited to: truth-in lending notices, deferments, address change forms, signed repayment schedules, loan correspondence, promissory notes, late charges, collection costs, skip tracing forms, exit interview forms, reminder or warning letters on delinquent accounts, Missouri data forms, paid-in-full printouts, return-to-fund documents, collection agency commission calculations sheets, etc.

Authorized Retention:

  1. Federal Funded Loans

    Retain for seven (7) years from the date on which a loan is assigned to the Department of Education or other federal agency, canceled, or repaid, then destroy.

    Citations: 42 CFR, 57.215, 57.315 and 60.42

  2. State and University Funded Loans

    Retain for ten (10) years after loan has been repaid or written off as uncollectible, then destroy.

    Citation: Missouri Revised Statute, Chapter 516, Section 516.110


2. Student Loan Original Promissory Note

The original promissory note is a part of the student loan file, but for security purposes, must be retained separately in a fireproof cabinet or vault.

Authorized Retention:

Retain until the loan obligation is satisfied, mark the original note “paid in full” and return to the borrowers. If written off as uncollectible, merge with student loan folder (Item 1 above) and retain per authorized retention as appropriate in Item 1.


This authorization supersedes authorizations 76-22 and 77-110 dated 11/15/00.


Reviewed 2019-08-05