Record retention - no action required

Effective April 18, 2023, BMTX will begin purging information associated with disbursements imported on and before June 30, 2019.

Pursuant to the Department of Education, Code of Federal Regulations, 34 CFR 668.24(e), “An institution shall keep records relating to [Title IV funds] three years after the end of the award year for which the aid was awarded and disbursed.”

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