Understanding Verification 6/28/2019 Understanding Verification Claudia Wohlfeil Assistant Director of Training & Compliance Template-WSU Hrz 431.ppt
What is Verification or File Review? 6/28/2019 What is Verification or File Review? After the FAFSA is completed there are certain things SFS must verify. Most Common: Household Size Income Citizenship Status Selective Service Registration Grade Level/Degree Completed Identity For the purpose of today’s presentation we are going to discuss FAFSA students. Please note that ALL WASFAA Students must also go through a verification process, but it is a little different. They must verify Household Size, Dependency Status, and Income Information for themselves or spouse if independent, and their parents if dependent. If you attend the State Aid session later today they will touch more on WAFSA. Template-WSU Hrz 431.ppt
6/28/2019 Why? The U.S. Department of Education requires schools to verify these items so that the right students are getting the correct aid they are eligible for. WSU also institutionally selects students for verification if we have conflicting information. Example: Student indicated they are a Grad student or already have a bachelor’s degree, but are in an undergraduate program in the system. Template-WSU Hrz 431.ppt
6/28/2019 How? Students are notified via WSU Email (or preferred email if incoming) when they have additional information they must submit to SFS to be verified. Priority Deadlines: Current Students: February 15th New Students: March 15th Email: We start sending initial communications in December. Then send at least 3 reminders before the deadlines. Students who fill out their FAFSA after the FAFSA priority deadlines might not get as many reminders, but they already missed the 1st deadline so it doesn’t really matter when they turn in their stuff. Submit SFS Docs- there are a few forms that when they log in online they have print off a PDF to be completed, because those forms need to be signed in person or be notarized. Or by someone else (Example 5B form). Talk about how students can take a picture with their smart phone. Students will log into SubmitSFSDocs.wsu.edu and submit all information online. Template-WSU Hrz 431.ppt
Examples https://submitsfsdocs.wsu.edu/ 6/28/2019 Pull up SFS Docs and Look at Claudia’s Forms. HH Form Parent Income Form Student Income Form Template-WSU Hrz 431.ppt
6/28/2019 Income Verification SFS is required to collect the following information from students and parents. Tax Filer Signed tax return (for 19/20 the 2017 is needed) OR Tax Return Transcripts (for 19/20 the 2017 is needed) If the student and/or parent used the IRS Data Retrieval tool on their FAFSA this requirement is waived. Non Tax Filer W2s or 1099's if income was earned from work IRS Letter of Non Filing (for Independent or Parents) Dependent Students can submit a written statement that they did not file taxes. Tax Filer: Both the student and parents information is needed. If Parents file separately we need both parents tax return transcripts. If a non filer doesn’t have access to their W2’s they can get a wage and income transcript from the IRS. Template-WSU Hrz 431.ppt
Acceptable Tax Documentation 6/28/2019 Acceptable Tax Documentation Who was at this presentation last year? Do you remember this? Template-WSU Hrz 431.ppt
Tax Return
Account Transcripts or Record of Account 6/28/2019 Account Transcripts or Record of Account NOT Acceptable Account Transcripts or a Record of Account is not acceptable because they do not contain everything SFS needs to verify income information on the FAFSA. Template-WSU Hrz 431.ppt
Tax Return NOW Acceptable! 6/28/2019 As of January 9, 2019 the Department of Education removed the restriction regarding tax returns as acceptable documentation. We can now accept them as long as page 2 is signed at the bottom. Template-WSU Hrz 431.ppt
Tax Return Transcript Acceptable 6/28/2019 We can also still accept the Tax Return Transcript. We must receive ALL pages. Depending on the type of tax return filed these are usually at least 2 pages long as 6 pages. This document contains all of the fields that we need to verify the income information on the FAFSA. Template-WSU Hrz 431.ppt
IRS Letter of Non-Filing 6/28/2019 IRS Letter of Non-Filing This letter from the IRS is required for Parents or Independent students that did not file taxes. Template-WSU Hrz 431.ppt
How to Request a Tax Return Transcript 6/28/2019 How to Request a Tax Return Transcript https://www.irs.gov/ Show steps on IRS website. Click on “Get your Tax Record” Show how they can get Transcript online or by Mail. Click on the “Transcript Types” to show the different types that can be requested. Template-WSU Hrz 431.ppt
Financial Aid Resources Assistance, Information, and Resources 6/28/2019 Financial Aid Resources Assistance, Information, and Resources The Repayment Estimator can give you a good estimate of what your repayment amount would be under the different plans. Template-WSU Hrz 431.ppt
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