<p>I'm curious. Do universities go ahead and process the financial aid for everyone who applied, or just people who are accepted? Especially for elite schools, it seems rather inefficient to process everyone's aid when only a part of those students will be accepted, no?</p>
<p>Also, more as a security concern, what do universities do with your information if you are not accepted? Do they simply trash it?</p>
<p>Yes, they process for all students who apply for aid. </p>
<p>Any information submitted to a college, whether or not the student is accepted, is filed. If it’s filed electronically, the paper copies are immediately shredded. If the school keeps paper files, all files are kept for the federally mandated number of years (6, I think). Each year, the school purges the old files, and all paperwork is shredded.</p>
<p>No paper is every thrown in a waste basket.</p>
<p>Thanks, kelsmom, I must admit I had a twinge over sending off the incredibly detailed pile of financial information to IDOC. I suppose the College Board must shred also.</p>
<p>I hope the electronic files are kept secure as well.</p>
<p>Yes, all files are secured. Our student workers did not have access to the electronic files - only the finaid officers were able to pull up the verification files.</p>
<p>Hi Mistaked, kelsmon is correct, that is called FERPA (Family Education Rights & Privacy Act).</p>