Pretty much what the title asks. Does the college/university destroy this information? If so, when? I’m just concerned about the security risk of sending my financial information to a number of schools (some of which don’t use IDOC) without knowing which ones will accept me or which one I will attend. Can anyone help?
Thousands upon thousands of students send financial aid application forms to schools where they ultimately do not get accepted. The school will not use your information, and will not maintain a file for your kid in the financial aid department.
You have two choices…send the info…or don’t. Every college student faces this question. Those that need or want financial aid send the forms to all of the schoos to which they apply.
ETA…you are applying to some very pricey schools. If you need the aid to attend, I suggest you submit the forms.
Thanks for your help @thumper1 !
We don’t know. Depends upon the school what they do with the info But if you don’t provide it, you don’t get financial aid. Period. Simple as that. It’s the risk you have to take if you want that money. Same thing any time you apply for loans, aid anytime in your future. You should see the paper work needed to get a mortgage. Don’t give it to them, and you are denied.
@cptofthehouse Thanks, yeah that’s what I figured. Well, I guess since I need that money i’ll be sending all that info in!
My husband’s cousins had a terrible time getting enough money to get through college. Their father, DH’s uncle, refused to give his financial info so that FAFSA and other forms could be completed. He felt it was none of anyone’s business and did not want his personal financial info floating around at colleges. When he wanted a HELOC for some property, it was nearly the end point when he was asked for his financials.
When I was undergoing very invasive verification for my FAFSA for one my kids’, my contact at his school was clearly a young person, and it struck me that he had all of our personal financial records including tax returns. If I lived in the area of that school, the chances were probably not bad that he’d know my kids, me. So it is with any financial transactions where others are given a look at your records. The same for medical records. Total privacy is nearly impossible to achieve. You want the services, the money, you have to toe the line for their requirements.
If you are seeking total privacy you can always chose to be full pay.