What is the purpose of keeping records in the first place? Is it to see if admissions criteria is a good indicator of student success? Otherwise could schools, which may already destroy records after a certain number of years [1], shorten that period, say, to the autumn following admissions season?

[1] Quick Google search shows USC keeping records for admitted students 5 years after last class taken: http://registrar.sc.edu/pdf/RecordsRetention2005.pdf