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Financial Aid Forms. Additional Forms Requested IRS Transcript If your parent/guardian files taxes, we are required to order an IRS Transcript and send.

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Presentation on theme: "Financial Aid Forms. Additional Forms Requested IRS Transcript If your parent/guardian files taxes, we are required to order an IRS Transcript and send."— Presentation transcript:

1 Financial Aid Forms

2 Additional Forms Requested IRS Transcript If your parent/guardian files taxes, we are required to order an IRS Transcript and send it to the financial aid office of university requesting the transcript. If you file a FAFSA and your parent/guardian has a Social Security Number (legal U.S. Citizen or Resident), then you should attempt to link your FAFSA to the IRS rather than ordering the transcript. If you have to order the transcript, it may be ordered online and by phone after your parent/guardian has completed 2015 taxes. https://www.irs.gov/Individuals/Get-Transcript Financial Verification Every year, campuses randomly select 33% of their financial aid applicants to provide verification of their income. The form is found under the financial aid office’s website for that campus. Your are looking for the 2016-17 version of the following forms:  Dependent Verification  Non-tax Filer  Household Size Verification

3 Completing the Dependent Verification Form Most colleges/universities will require that you complete this form, especially if selected for verification (this will be indicated on your portals). We are going to fill out a general one so that you know how to fill out as colleges request these from you. Please follow along and write your information on your form.

4 Family Information: List the names of everyone, including yourself, living in your household. If they are in college, include the name of their college and “Yes” for “Enrolled ½ time or more?”

5 Student Income: Most of you will check the option that states: “I, the student was not employed in 2015 and had no income earner from work in 2015.” If you worked, check the line that applies.

6 Student Assets: Number 1: If you have a bank account, list the amount you have, otherwise write a “0” if you do not have an account. Numbers 2 and 3 will be “0” for all students.

7 Parent Income: If your parent(s)/guardian(s) will file taxes for 2015, most of you will use options 1 or 2 depending on our ability to request a transcript. If your parent(s)/guardian(s) does not work, check option 3. If your parent(s)/guardian(s) work, but do not file based on their income, check option 4. If your parent(s)/guardian(s) work, but do not file taxes because they are paid in cash and do not receive a W-2, check the last option and list all employer’s names and the amount earned.

8 Parent Assets: Number 1: If your parent(s)/guardian(s) have a bank account, list the amount he/she/they have, otherwise write a “0” if he/she/they do not have an account. Numbers 2 and 3 will be “0” for most parents unless they own homes (other than the one you live in) and/or businesses.

9 Child Support Paid/Received: Parent(s) Child Support Received: Check appropriate box if your parent does/does not receive child support. If yes, check box one and indicate the annual amount. Parent(s) Child Support Paid: Check appropriate box if your parent does/does not pay child support. If yes, check box one and indicate the annual amount(s).

10 Signatures: Both the student and parent/guardian must sign and date. Send to the address indicated. If an address is not indicated, this always goes to the financial aid office.

11 Now…. Put this form in your Senior Seminar folder and continue to reference it each time you need to submit a dependent verification. Locate the same form under the financial website for each campus you applied to, under their Forms/Documents/ Resources. Look for the 2016-17 Dependent Verification Form (may still be unable at some campuses, but understand where to find it).

12 Questions?


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