Presentation on theme: "Tanya McGee Katie Starling Kansas State University October 3, 2013."— Presentation transcript:
Tanya McGee Katie Starling Kansas State University October 3, 2013
: Where we are : Where we are going Impact of GEN Discussion/Question & Answer
Data elements to verify remained largely the same as High school completion status and Identity/ Statement of Educational Purpose were added Introduction of verification groups V1, V2, V3, V4, V5 Student should remain in the same verification group
Household size Number in college Income information for tax filers AGI Taxes Paid Education Credits Specific untaxed income: IRA distributions, pensions, IRA deductions, and tax exempt interest
Income information for non-tax filers Income earned from work SNAP benefits (ie. Food Stamps) Only if ISIR indicates this was true Child Support Paid Only if ISIR indicates this was true
High School Completion Status Recognized equivalents of high school diploma Identity/Statement of Educational Purpose Must use exact wording provided by ED for the Statement of Educational Purpose
As of Monday, September 30, 2013 Received (duplicated) Loaded (unduplicated) Total ISIRs45,33519,280 Total Selected18,329 5,500 V118,103 5,448 V V V V5 75 8
Red ribbon year? Maybe blue, green, white?
Federal Register published June 13, 2013 Dear Colleague Letter, GEN-13-16, published June 13, 2013
Verification group changes Say goodbye to V2 – SNAP Say hello to V6 – Household Resources Applicants will no longer be assigned to V2, but we will still be required to verify SNAP in the other verification tracking groups (V1, V4, V5, V6)
Verification items remain the same as AY14, but with one addition Other Untaxed Income Introduction of the new verification tracking group – V6, Household Resources Q45 for the student and Q94 for the parent(s)
Payments to tax-deferred pension and savings plans Child support received Housing, food and other living allowances paid to members of the military, clergy and others Veterans noneducation benefits Other untaxed income (workers’ compensation, untaxed portion of health savings accounts, etc.) Money received or paid on the student’s behalf
Acceptable documentation includes: Signed statement by the student and parent, if applicable, that lists the untaxed income amounts Copies of the 2013 W-2s from all sources of income
If the FAA determines the income verified does not appear to provide sufficient financial support, the student or parent must explain how the family was financially supported during calendar year Income sources: AGI, income earned from work, all untaxed income, and other untaxed income not included on the FAFSA.
Hence, the name for the new tracking group - Household Resources Hey! You’re living on nothing! Prove it! Sources of income can include the “usual” items But could also include untaxed income not listed on the FAFSA Welfare benefitsAdditional child tax credit Earned income creditUntaxed social security benefits Supplemental security income (SSI)
Household Resources ED will not be specifying an income threshold Leaving that to the institution to define How will you determine your “magic” number? Use poverty guidelines? What seems appropriate/necessary for a certain family’s size and geographic location?
Nontax filers – if an institution questions the claim of not filing, the institution may/must require the student to submit a “Verification of Nonfiling” from the IRS. The IRS will not be issuing until after June 15, 2014.
High School Completion Status Previously collected HS Completion documentation may be used as long as it meets the criteria outlined in the Federal Register. High School Completion Abroad – may obtain a copy of a “secondary school leaving certificate” through the appropriate government agency Homeschool – secondary school completion credential vs. transcript signed by student’s parents
Identity/Statement of Educational Purpose Specific text for provided in the Federal Register Documentation may be converted into an electronic record (ie. your imaging system) Household Size Includes parents who are married or unmarried and living together, irrespective of gender GEN-13-12
Beginning with , dependent students will be required to provide income information from the student’s legal parents (biological or adoptive) regardless of marital status or gender, if those parents live together. In the past, income has been excluded when the parents were unmarried, even if the parents were living together.
Philosophy – the family should help pay the educational expenses of their child. Help to ensure limited taxpayer resources are directed to students with the most need, regardless of the parents’ marital status or gender, when those parents are living together.
New response to FAFSA question, “As of today, what is the marital status of your legal parents?”, will include “Unmarried and both parents living together.” FAFSA on the Web will no longer have mother/father reference, but will reference Parent1/Parent2.
Required to enter Identity Verification Results into FAA Access (V4 and V5) Manually enter information one student at a time. FAA Access will accept a flat file after April Must enter results even for non-respondents.
Possible Topics Impact to your verification forms Impact to your student systems Impact to your website
Federal Register, published June 13, SAInformationToBeVerifiedforthe AwardYear Dear Colleague Letter (GEN-13-16), published 6/13/13
2013 NASFAA Conference, Department of Education Verification session handout/audio NASFAA’s News July 30, 2013 – FAA Access Reporting for Verification of Identity and HS Diploma Required in r_Verification_Of_Identity_And_High_School_Diploma_Req uired_In_2014%e2%80%9315.aspx
Tanya McGee Associate Director Office of Student Financial Assistance Kansas State University Katie Starling Assistance Director Office of Student Financial Assistance Kansas State University