2013-2014 Federal Verification of FAFSA Information
What is Verification?
Verification is a federal financial requirement in which the Federal Central Processing Center (CPS) randomly selects Free Application for Federal Student Aid (FAFSA) applicants for verification (which will be noted on your “Student Aid Report” or “SAR”). Students can typically expect to receive notice that they have been selected for verification within 10-14 business days after the Office of Financial Aid receives their FAFSA. All requested documents should be submitted in full as soon as possible. Once selected the process of comparing the self-reported information on the FAFSA to that of IRS Tax Transcripts and other financial documents begins. If any mistakes are found on the FAFSA the school will make the necessary corrections.
All applicants will have to submit the following to the Office of Financial Aid:
IMPORTANT: Do not leave any lines blank on submitted documentation. No processing will take place until all information has been received and a paid deposit has been received by the school for new students. Personal copies of tax returns will no longer be accepted unless it is a copy of an Amended Federal Tax Return.
NYS residents who receive Food Stamps can log onto their account at https://mybenefits.ny.gov/ to view their benefits and print off proof of their account status to submit to schools.
Do I need to turn in any other documents?
If conflicting data or further clarification is needed based on the already submitted FAFSA and verification documents other documents may be requested via written letter from the office of financial aid. Some of these documents may include tax schedules, sibling/spouse enrollment verification worksheet, asset worksheet, divorce agreements, legal separation agreements, proof of separate residencies, bank statements, brokerage statements, documentation of child support etc.
What happens if a student does not turn any information in or fails to turn in additional requested information?
You should be aware that if you fail to submit all of the requested information all Federal Financial Aid and private loans are placed on hold. Students that are currently enrolled for the Fall semester who have outstanding charges and have not completed the Verification process will be prohibited from registering for the subsequent spring semester until the verification is complete and/or their bill is paid in full. The federal Verification process could take as long as 6 weeks so it is highly recommended that students file their FAFSA by January 31st of each year and turn in all required verification paperwork requested by the school in a timely manner no later than June 15th. Individuals who have filed extensions or are self-employed and file their taxes later in the year are not excused from the process. If selected for verification please file income tax returns as soon as possible.
What do I do if my family has a change in income that is not reflected on the FAFSA and tax information?
DO NOT make any changes to your FAFSA after you have used the IRS Data Retrieval Process. Instead please follow the Appeal of Federal Aid Procedures and submit the required documentation to the Office of Financial Aid. Once this has been received it will be evaluated and eligibility is recalculated if possible. A response will be sent to the student regarding the appeal determination. Starting for the 2012-2013 school year the Federal Verification process must be complete before any appeals will be processed by the Office of Financial Aid. Also note that the verification/appeal process will NOT be processed for new students until a paid deposit is received by the school.
What do I do if my FAFSA reflects my initial federal tax information before I filed an Amended Federal Tax Return?
After utilizing the IRS Data Retrieval Process to update your FAFSA to the most recent IRS data you will need to send a copy of your Amended Federal Tax Return Form 1040X along with all other required verification documents to the Office of Financial Aid. If you are not eligible to use the IRS Data Retrieval Process a copy of your IRS Tax Return Transcript also must be sent to our office. Once received, the school will update your FAFSA to reflect your correct amended tax information.