Definition and Purpose
· Verification is a process used to check the accuracy of the information that a student has given when applying for federal financial aid.
· Verification is used to ensure that the student is providing accurate information about their need for financial aid, since inaccurate information may result in the student receiving less (or more) money than he/she should.
Programs Covered
· Federal Pell Grant;
· Federal Stafford Loans;
· Supplemental Aid Programs:
· Federal Work Study
· Federal Supplemental Education Opportunity Grant (FSEOG)
Applicant Selections
Broward College is a Quality Assurance Institution. The US Department of Education has given BC authority to set its verification criteria based on tools and guidance provided.
Verification Process
1. Students selected for verification are notified on the Student Aid Report by the Department when there are errors on your FAFSA. Students should correct their SAR immediately to avoid further verification by the Financial Aid office.
2. When further verification is needed, students will be notified by the Financial Aid Office and instructed to send in specific materials to verify their financial aid income or asset information. Some of these materials include a verification form, an office copy of the Federal Tax Return Transcript from the IRS and W-2 wage statements. Parents or students who received benefits from the Supplemental Nutrition Assistance Program or SNAP (formerly known as food stamps) any time during the 2010 or 2011 calendar years must provide documentation from the agency that issues the benefit. In Florida, SNAP benefits are administered by the Department of Children and Families.
3. Until all verification requirements are completed, no funds will be disbursed to the student.
4. Students should note the deadline date for submitting verification materials and submit them via a personal appointment with a Financial Aid advisor and bringing these documents to a campus financial aid office before the priority application date.
5. When verifying your FAFSA, we are no longer allowed to accept a signed copy of a tax return form to complete the verification process. This is a federal regulation that we must follow.
Ways to Verify Income of Parents and/or Students
Option 1:
Use the IRS Data Retrieval Tool
You will be unable to use IRS Data Retrieval Tool if:
· Your marital status changed after December 31, 2012
· You filed an amended return
· You filed married filing separately you filed a tax return using a Tax ID Number (TIN)
· You filed a foreign tax return - Submit a signed copy of your return to the financial aid office
· The home address on the FAFSA does not match the address on the tax return
Note: Tax information electronically filed within the last 2 weeks or submitted by mail within the last 8 weeks may not be available.
Option 2:
IRS Tax Transcript
If you are selected for verification of your 2013-14 FAFSA, and are unable to use the IRS Data Retrieval Tool, you must submit an official IRS TAX RETURN TRANSCRIPT, (not an Account Transcript.) There are 3 ways to do this:
1. Request one electronically on the IRS website at www.irs.gov
In the Tools section of the homepage click “Order a Return or Account Transcript”
Under Choice 3, click “Go get your transcript
2. Or you may call the IRS at 1-800-908-9946 and follow the prompts to request a Tax Transcript for 2011
If you filed an Amended Return:
Submit both an IRS Tax "Return Transcript" and an IRS Tax "Account Transcript"
OR
Submit the Record of Account, (using IRS Form 4506-T), which could take 30 days
REMEMBER: Include your student ID number on your tax transcript before you submit it to our office.
IMPORTANT DOCUMENT NOTE: If you are applying for aid at other schools, please make a copy of your tax transcript for your records before you submit to us. We will not keep paper copies of any documents and the IRS will currently only accommodate one request.