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Verification is a process used to verify certain information on the FAFSA to ensure its accuracy. Some students are selected for verification by the U.S. Department of Education. Others are selected by the college. Usually only a certain percentage of students are selected for verification (but keep in mind that some schools choose to do 100% verification so every student file is verified).
Students may be required to provide proof of all financial information reported on the financial aid application, including the IRS Tax Transcript, household size, child support paid and documentation of all non-taxable income.
There are several possibilities for being selected for FAFSA verification. Keep in mind that more possibilities exist, but the following are the main reasons for being selected:
Students who use the IRS Data Retrieval Transfer option on the FAFSA application eliminate the IRS tax transcript requirement, if they are randomly selected for verification. The IRS Data Retrieval Transfer option allows applicants who have already filed their federal income tax returns to prefill the answers to the income questions on their FAFSA by transferring data from their federal income tax returns.
This can save the student and families some time in completing the FAFSA; and may also reduce the likelihood that their FAFSA will be selected for verification.
Students who are not able to utilize the IRS Data Retrieval Tool must request a copy of their IRS Tax Transcript from IRS, if selected for verification.
If you were not selected for verification, you will receive your Award Letter in the mail 2-3 weeks after your FAFSA has been processed.
Award Letters will include:
There are two types of financial aid awards: gift aid and self-help aid. Gift aid does not have to be paid back. Self-help aid must be repaid through money or labor.
Gift Aid include: Scholarships and Grants
Self-Help Aid include: Federal Work Study, Federal Direct Stafford Loan and Parent Loan for Undergraduate Students (PLUS)
After receiving the financial aid award notification, you must let HCC's Financial Aid Office know if you will be declining any awards. If you accept the above awards, you do not need to reply. Deadlines are usually within two weeks after receiving the award notification. If a deadline is missed, you may risk losing a scholarship, grant, or loan assistance.
Once you have satisfied all requirements from the Financial Aid Office, you will receive your Award Letter in the mail, if eligible within 2-3 weeks.
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