1. Verification 2016-2017 New Aid Officer’s Workshop 2016

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

3. Group V2 & V3 will not be used. Applicants may be moved from tracking groups V1, V4, and V6 to V5 on a subsequent ISIR. If moved, school is prohibited from disbursing any new Title IV aid until verification of new group completed V6 Group – Household Resources Verification Group Institutions must use exact language provided in the Federal Register for the Statement of Educational Purpose.

4. 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 V4 Custom Verification Group Record selected for HS Completion Status, Identity criteria, and SNAP and Child Support Paid, if indicated on ISIR V5 Aggregate Verification Group Record selected for Identity criteria, “Standard Verification” criteria, and SNAP and Child Support Paid, if indicated on ISIR V6 Household Resources Verification Group Record selected for Other Untaxed Income, “Standard Verification” criteria, and SNAP and Child Support Paid, if indicated on ISIR

5. High School Completion Status HS DiplomaHS Diploma or final HS transcript showing date HS diploma awarded –NEW: DD Form 214 may serve as documentation if it indicates student is a HS graduate HomeschooledHomeschooled –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

6. High School Completion Status Recognized EquivalentRecognized Equivalent –General Educational Development (GED) Certificate –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

7. 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 notarized –An original notarized statement of educational purpose signed by the applicant

8. 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 –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

9. 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

10. Non-Tax Filers AND W-2 Form needed for each source of employment income AND Signed statement giving the sources and amounts of the person’s income earned from work not on W-2s and certifying that the person has not filed and is not required to file a tax return

11. 2015 Tax Matrix Earnings from Work –Wages, Salaries, Tips –Business Income/Loss –Farm Income/Loss Untaxed Income Adjusted Gross Income (AGI) Additional Financial Information U.S. Income Tax Paid

12. Tax Time!

13. 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 Cannot accept IRS Verification of Nonfiling letter prior to June 15, 2016 Must still resolve conflicting informationMust still resolve conflicting information Verification & Reminders

14. Available Resources Federal Student Aid Handbook –Application and Verification Guide (2016-2017 not available yet) http://ifap.ed.gov/fsahandbook/attachments/1516AVGCh4.pdf NASFAA Ask Regs Knowledgebase http://askregs.nasfaa.org/ics/support/splash.asp Institutional Policies and Procedures IRS Publication 17 found at www.irs.govwww.irs.gov

15. Consuela Mitchell Assistant Director of Financial Aid Tarrant County College 817-515-1786 consuela.mitchell@tccd.edu