My school told me to fill out a dependent verification statement concerning my FAFSA. I don't understand why? I'm pretty sure I filled out the FAFSA correctly. Is it just like double check to ensure the numbers are correct? Or am I in trouble?
2006-07-06 08:54:42 · 5 answers · asked by yes1guy1no 2 in Education & Reference ➔ Financial Aid
You're not in trouble. It's just double-checking -- not an audit or anything like that. In a nutshell, Verification is a system of checks and balances that's built into the Federal Student Aid system. It's a process required by the government but implemented by the school. Schools are only required to verify a certain percentage of their students. However, some schools are "100% Verification" schools, meaning that they verify *every* aid applicant.
While, in general, Verification is a "random" process, it's also true that, sometimes, applications are selected because the numbers "don't add up." That is, a student might be selected because his/her parent's income decreased dramatically from one year to the next -- or because there appear to be more household members than the family's income can logically provide for, etc. Either way, it's not a big deal: if the numbers on your FAFSA match the numbers on your (and your parents') taxes and the verification form, then your school probably won't make any adjustments. If the numbers ARE different, the school will simply adjust your FAFSA to reflect the tax information.
In the end, verification can go either way. Plenty of students' aid packages remain the same after verification. Some students' eligibility decreases if, for example, the school uncovers an error [intentional or not] on the form. And some students even see an INcrease in their eligibility for grant aid. So, you could be in for a nice surprise! Ultimately, if the information that you put on the FAFSA was accurate to the best of your knowledge, you won't be in trouble, even if there was an error. Mistakes happen all the time -- that's why Verification exists.
2006-07-06 09:06:07 · answer #1 · answered by FinAidGrrl 5 · 6⤊ 1⤋
the federal verification process is, essentially, the audit system of the department of education. 30% of all applicants for federal aid are selected for verification, though some schools simply decide to verify everyone. it is typically a random process, though often times a school will select you manually if you filed your FAFSA using estimated taxes.
you didn't do anything wrong, and even if you had misentered information on your FAFSA, the financial aid office would simply make the appropriate corrections and resubmit your information.
be sure you comply with the request for verification documents as soon as you can so that you don't miss out on any federal or state funds that you may be eligible for.
2006-07-07 11:14:39 · answer #2 · answered by jayseabrown 2 · 0⤊ 0⤋
It is basically double-checking that what you put on the FAFSA is correct. It's fine if you don't remember exactly what you wrote on the FAFSA, so long as it's near the same amounts. Your school may also require other documents as well. They are all basically the same info that's on the FAFSA.
2006-07-06 23:24:52 · answer #3 · answered by grad_girl 1 · 0⤊ 0⤋
They may be wanting you to verify that you are a dependant.....that you aren't on anyone else's tax returns! That's really a question you should ask your college's financial aid office.
2006-07-06 17:38:12 · answer #4 · answered by Jen 5 · 0⤊ 0⤋
I got one as well. It's not a big deal. Turn it in ASAP so you don't lose any aid they've earmarked towards you.
2006-07-06 18:24:53 · answer #5 · answered by ronnieneilan1983 3 · 0⤊ 0⤋