2014 TASFAA New Aid Officer’s Workshop

Objectives Understand Verification Flag Tracking Groups and Documentation Requirements Easily Identify Verification Data Elements on Tax Documents Obtain Verification Resources Ask Verification Questions

Verification Groups Verification Tracking Flag Verification Tracking Group Verification Description V1 Standard VerificationGroup is standard verification V2 SNAP Verification Group consist of only verifying SNAP V3 Child Support Paid Verification Group consist of only verifying Child Support paid V4 Custom Verification Group Group consist of : SNAP, Child Support Paid, High School Completion Status, and ID Proof/ Statement of Educational Purpose. V5 Aggregate Verification Group Group consist of V1 and V4 items: standard verification, SNAP, Child Support Paid, High School Completion Status, and ID Proof/ Statement of Educational Purpose.

Verification data elements for aid year include verification items for aid year and adding a V6 group. V6 Group – Household Resources Verification. Group V2 will not be used. Institutions must use exact language provided in the Federal Register for the Statement of Educational Purpose.

Verification Tracking Flag Verification Tracking Group Verification Description V1 Standard Verification Record selected because conditions based on statistical analysis error-prone risk model were met V3 Child Support Paid Verification Record selected for Child Support paid criteria only V4 Custom Verification Group Record selected for Identity criteria, SNAP, and Child Support Paid V5 Aggregate Verification Group Record selected for Identity criteria, “Standard Verification” criteria, SNAP, and Child Support Paid V6 Household Resources Verification Group Record selected for Other untaxed income, “Standard Verification,” SNAP, and Child Support Paid Verification Tracking Flag Groups

Documentation of HS Completion Status HS Diploma or final HS transcript showing date HS diploma awarded Recognized Equivalent – General Educational Development (GED) Certificate; – State certificate received by a student after the student has passed a State-authorized examination that the State recognizes as the equivalent of a high school diploma; – Academic transcript of a student who has successfully completed at least a two-year program that is acceptable for full credit toward a bachelor's degree; or – For a person who is seeking enrollment in an educational program that leads to at least an associate degree or its equivalent and has not completed high school but has excelled academically in high school, documentation from the high school that the student excelled academically in high school and documentation from the postsecondary institution that the student has met the formalized, written policies of the postsecondary institution for admitting such students Homeschooled – Transcript or the equivalent, signed by the parent or guardian, that lists the secondary school courses completed by the applicant and documents the successful completion of a secondary school education; or – A secondary school completion credential for home school (other than a high school diploma or its recognized equivalent) provided for under State law

Identity/Statement of Educational Purpose Appear in person and present to an institutionally authorized individual: – A valid government-issued photo identification (driver’s license, non-driver’s license, or passport); and – A signed statement of educational purpose Must maintain, an annotated copy of the identification submitted by the applicant that includes: – The date documentation was received; and – The name of the institutionally-authorized individual that obtained the documentation If unable to appear in person, must provide the institution: – A copy of a valid government-issued photo identification (driver’s license, non- driver’s license, or passport); and – An original notarized statement of educational purpose signed by the applicant

Tax Filers –Household Size –Number in College –Child Support Paid –SNAP –Adjusted Gross Income –U.S. Income Tax Paid –Untaxed IRA Distributions –Untaxed Pensions –IRA Deductions & Payments –Tax-Exempt Interest Income –Education Credits Other Untaxed Income –Payments to tax-deferred pension and savings plans –Child support received –Housing, food, and other living allowances –Veterans non-educational benefits –Money received or paid on student’s behalf

Non-Tax Filers –Household size –Number in College –Child Support Paid –Tax-Exempt Interest –Other Untaxed Income –Payments to tax-deferred pensions and savings plans –Child support received –Housing, food, and other living allowances –Veterans non-educational benefits –Money received or paid on student’s behalf

W-2 Form needed from each source of employment Signed statement listing sources and amounts of other untaxed income.

2013 Tax Matrix Earnings from Work Earnings from Work – Wages, Salaries, Tips – Business Income/Loss – Farm Income/Loss Untaxed Income Untaxed Income Adjusted Gross Income (AGI) Adjusted Gross Income (AGI) Additional Financial Information Additional Financial Information U.S. Income Tax Paid U.S. Income Tax Paid

Amended Returns – Signed copy of 1040X and – Signed copy of original tax return or IRS transcript (with all data elements) Federal Means Benefits = Verification of Group Household Resources $25 $25 Tolerance for non-dollar amounts W-2 and/or Schedule C/C-EZ may be needed for tax filers Do NOT accept IRS Verification of Nonfiling letter prior to June 15, 2014 Must still resolve conflicting information Must still resolve conflicting information Verification &

Available Resources Federal Student Aid Handbook Federal Student Aid Handbook – Application and Verification Guide NASFAA Ask Regs Knowledgebase NASFAA Ask Regs Knowledgebase Institutional Policies and Procedures Institutional Policies and Procedures IRS Publication 17 found at IRS Publication 17 found at

Thank You! Consuela Mitchell Assistant Director of Financial Aid Tarrant County College Roy Tuberville Financial Aid Manager Intake/Processing El Paso Community College