Financial Aid

I was selected for Verification...what do I need?

What is Verification?

  • A process where schools must verify the accuracy of the information you reported on your FAFSA.
  • FAFSA corrections may be required as a result of this process.
  • Your signature on the FAFSA is your agreement to submit any requested documentation.
  • The Financial Aid Office will make any necessary corrections as a result of verification.
  • Federal Financial Aid cannot be disbursed until this process has been completed.

Why was I selected?

  • The Central Processing System (CPS) selects which FAFSAs are to be verified based on criteria set by the Department of Education.
  • Being selected for Verification does not mean you have made a mistake on the FAFSA, it just means you have met one or more of the established criteria and your file will be reviewed for accuracy.
  • Not updating your prior prior year tax return information on the FAFSA by May 1 will require you to complete the Verification process.
  • You will also be selected if you submit a Professional Judgment Request, had a marital status change within the last calendar year or had a sibling, child or spouse who was also selected.
  • Remember:  as part of the FAFSA signature process "you agree, if asked, to provide information that will verify the accuracy of your completed form."

Where do I start?

  • Print off the appropriate Verification Checklist (Dependent or Independent) from http://www.lcsc.edu/financialaid/financial-aid-forms or WarriorWeb.
  • Be sure to print the checklist for the correct year you have been selected for Verification.
  • You will use the Verification Checklist and the My Documents section of WarriorWeb to determine what you need to submit to the Financial Aid Office.

What documentation do I need to submit?

Based on information from the Verification Checklist and the My Documents section of WarriorWeb you may need to submit:

  • Verification Worksheet
    • Dependent, if FAFSA required parent information.
    • Independent, if FAFSA did not require parental information.
    • Prior-prior year tax return transcript, which can be submitted by:
      • Requesting a Tax Return Transcript be mailed to you via the www.irs.gov OR
      • Printing online from www.irs.gov.
      • Copy of your signed tax return.
  • Non-Filing Income Statement
    • Requested from students and/or parents of dependent students who will not be filing a tax return.
    • Copies of all W-2(s) from work must accompany the form.
  • Income and Resources Form
    • Requested from students whose reported income is unusually low.
    • Verifies how basic needs are being covered.
  • Unreported Asset Form
    • Requested from students whose asset information needs to be verified.
    • Request usually comes due to conflicting information.

What if I or my parents filed a tax return extension?

  • Your FAFSA can be verified based on extension information. You must provide:
    • IRS Form 4868 (Application for Automatic Extension of Time to File U.S. Individual Income Tax Return) AND
    • All W-2(s) for the calendar year OR
    • If self-employed, a signed statement with the amount of your AGI and U.S. income taxes paid.
  • Once the tax return has been filed and processed, a Tax Return Transcript must be sent to the Financial Aid Office.
    • Future financial aid disbursements will be placed on hold until the Tax Return Transcript Information is received.
    • Disbursed aid may be cancelled or reduced, requiring immediate repayment if the final information is not received or differs significantly.

What if I or my parents had to amend our tax return?

  • The information to complete verification includes:
    • A signed copy of the IRS Form 1040X that was filed.
    • An IRS Tax Return Transcript or signed copy of the tax return that was filed.

What happens once I have submitted the documentation requested?

  • Your submitted documentation will be compared to your FAFSA.
  • Additional documentation may be requested for clarification or to determine accuracy.
  • The Financial Aid Office will make any necessary corrections to your FAFSA as a result of Verification.
  • Once the Verification process has been completed your file will be ready to award.
  • You will be notified that Award Letter information is ready to print from WarriorWeb.
  • You will need to submit your Award Letter and Conditions of Award, see I have my Award Letter...what does it mean?.

I've already received my Award Letter and/or financial aid...why must I submit the information now?

  • LCSC received updated FAFSA information for you.
  • Your tax information was not updated from submitted estimates.
  • Once selected, the Verification process must be completed before any aid will be disbursed.
  • Aid already received will be placed on hold until Verification is completed.
  • Corrections/adjustments will be made to prior awards/award offers.

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