What Is Verification?
Verification is a process that confirms the accuracy of the FAFSA form.
How Are FAFSAs Selected?
The U.S. Department of Education selects one in three FAFSAs for verification. Verification is just another step to complete before financial aid becomes official. The Director also may select forms that appear incorrect or inconsistent.
Why it’s important
Students cannot receive financial aid until verification is complete.
If verification is not complete by August 1, students must make other payment arrangements such as a parent PLUS loan, private student loan, or eight-month payment plan for the fall term, until the verification is complete. The deadline for completing verification in a timely manner to finalize the financial aid process is May 15.
The Department of Education will not allow the College to release financial aid funds until verification is complete, regardless of any extensions parents or students may have with the IRS.
What to Do If Selected For Verification
Federal regulations require Emory & Henry College to collect certain financial documents to ensure the accuracy of all FAFSAs selected for verification FAFSAs. Students are required to complete and sign:
1) a verification worksheet for the appropriate year;
2) copy of Federal IRS Tax Transcript;
3) and copies of W2s.
To request an Offical Tax Transcript, go to www.irs.gov/Individuals/Order-a-Transcript
Students selected for verification must complete a verification worksheet. Students that were required to include parental information on the FAFSA must use the dependent verification worksheet.
Students that did not file a federal tax return simply need to indicate that on the verification worksheet. Download the Dependent Verification Worksheet.
Information for Independent Students
Independent students are required to submit copies of an official tax transcript. Download the Independent Verification Worksheet.
Results of Verification
Verification may impact a student's eligibility for financial aid. Completing the process early assures students the best financial aid package available.