Verification - WHAT IS IT?
- Department of Education selects some FAFSA applicants for verification.
- The student is notified of verification selection by Department of Education through an email acknowledgement.
- The Department of Education requires that Franciscan University confirm the information you and your parent(s) reported on your FAFSA. To verify that you provided correct information, our Financial Aid office will compare your FAFSA with the Verification Worksheet and Federal Tax Return Transcript. If differences are found, your FAFSA will be corrected.
- Your financial aid award cannot be completed until the verification process is complete.
- If the Department of Education selects you after you have received your financial aid, Franciscan is required to cancel your financial aid until required documentation has been submitted.
WHAT DO I HAVE TO DO?
OR, if you cannot utilize the IRS Data Retrieval Tool:
The best way to verify income is by using the IRS Data Retrieval Tool that is part of the FAFSA on the Web. If the student’s parent has not already used the tool, the parent and the student should go to www.FAFSA.gov, log in to the student’s FAFSA, select “Make FAFSA Corrections”, and navigate to the Financial Information section of the form. From there, follow the instructions to determine if the parent is eligible to use the IRS Data Retrieval Tool to transfer 2011 IRS income tax information into the student’s FAFSA. It takes up to two weeks for IRS income information to be available within the IRS Data Retrieval Tool if your tax return was filed electronically, and up to eight weeks for paper tax return filers. When the IRS Data Retrieval Tool is used successfully, you do not need to submit a Tax Return Transcript to Franciscan University.
- Complete the appropriate Verification Worksheet, (with Dependent or Independent), sign, date and return to Franciscan University Financial Aid Office. Dependent students are required to have a parent sign and date the form along with the student signature.
- Submit a copy of your Federal Tax Return Transcript to our Financial Aid Office. This can be obtained from the Internal Revenue Service at www.irs.gov or by calling 1-800-908-9946. Dependent students must provide a transcript for themselves and their parent.