[Code of Federal Regulations]

[Title 42, Volume 1]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 42CFR60.56]



[Page 345-346]

 

                         TITLE 42--PUBLIC HEALTH

 

    CHAPTER I--PUBLIC HEALTH SERVICE, DEPARTMENT OF HEALTH AND HUMAN 

                                SERVICES

 

PART 60_HEALTH EDUCATION ASSISTANCE LOAN PROGRAM--Table of Contents

 

                          Subpart E_The School

 

Sec. 60.56  Records.



    (a) In addition to complying with the requirements of section 739(b) 

of the Act, each school must maintain an accurate, complete, and easily 

retrievable record with respect to each student who has a HEAL loan. The 

record must contain all of the following information:

    (1) Student's name, address, academic standing and period of 

attendance;

    (2) Name of the HEAL lender, amount of the loan, and the period for 

which the HEAL loan was intended;

    (3) If a noncitizen, documentation of the student's alien 

registration status.

    (4) Amount and source of other financial assistance received by the 

student



[[Page 346]]



during the period for which the HEAL loan was made;

    (5) Date the school receives the HEAL check or draft and the date it 

either gives it to the student or returns it to the lender (if the 

school is not the lender);

    (6) Date the school disburses the loan to a student (if the school 

is the lender);

    (7) Date the school signs the loan check or draft (if the school is 

a copayee);

    (8) Amount of tuition, fees and other charges paid by the student to 

the school for the academic period covered by the loan and the dates of 

payment;

    (9) Photocopy of each HEAL check or draft received by the student;

    (10) Documentation of each entrance interview, including the date of 

the entrance interview and the signature of the borrower indicating that 

the entrance interview was conducted;

    (11) Documentation of the exit interview, including the date of the 

exit interview and the signature of the borrower indicating that the 

exit interview was conducted, or documentation of the date that the 

school mailed exit interview materials to the borrower if the borrower 

failed to report for the exit interview;

    (12) A photocopy made by the school of the borrower's I-151 or I-

551, if the borrower is required to possess such identification by the 

United States, or other documentation, if obtained by the school, to 

verify citizenship status and Social Security number (e.g., a certified 

copy of the borrower's birth certificate or a photocopy made by the 

school of the borrower's original Social Security card or copy issued by 

the Federal government);

    (13) Documentation of the calculations made which compare the 

financial resources of the applicant with the cost of his or her 

education at the school;

    (14) Copy(s) of the borrower's financial aid transcript(s);

    (15) The standard budget used for the student, and documentation to 

support the basis for any deviations made to the standard budget;

    (16) Copies of all correspondence between the school and the 

borrower or between the school and the lender or its assignee regarding 

the loan;

    (17) Copy of each form used by the school in connection with the 

loan; and

    (18) Expected postgraduate destination of borrower.

    (b) The school must maintain the record for not less than 5 years 

following the date the student graduates, withdraws or fails to enroll 

as a full-time student. The school may store the records in microform or 

computer format.

    (c) The school must comply with the Department's biennial audit 

requirements of section 705 of the Act.

    (d) The school must develop and follow written procedures for the 

receipt, verification of amount, and disbursement of HEAL checks or 

drafts. These procedures must be maintained in the school's policies and 

procedures manuals or other general office records.



(Approved by the Office of Management and Budget under control number 

0915-0108)



[48 FR 38988, Aug. 26, 1983, as amended at 52 FR 751, Jan. 8, 1987; 57 

FR 28799, June 29, 1992]