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Description: Tags: 0506AVGTOC

This document provides guidance on applying for and verifying federal student aid. It discusses the application process from FAFSA submission through output documents. It also covers filling out the FAFSA, expected family contribution calculations, verification policies and procedures, making corrections and updates, and addressing conflicting information. The overall goal is to help students receive accurate financial aid awards in a timely manner.

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25 views

Description: Tags: 0506AVGTOC

This document provides guidance on applying for and verifying federal student aid. It discusses the application process from FAFSA submission through output documents. It also covers filling out the FAFSA, expected family contribution calculations, verification policies and procedures, making corrections and updates, and addressing conflicting information. The overall goal is to help students receive accurate financial aid awards in a timely manner.

Uploaded by

anon-896048
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
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Application and Verification Guide

Introduction................................................................................... 1

Chapter 1: The Application Process: FAFSA to ISIR ................... 3


TYPES OF APPLICATIONS ......................................................................................................................... 3
Paper FAFSA, FAFSA on the Web, FAA Access to CPS Online, The PIN, Renewal FAFSA

PROCESSING THE FAFSA .......................................................................................................................... 5

OUTPUT DOCUMENTS: THE SAR AND ISIR .......................................................................................... 6

DEADLINES ................................................................................................................................................... 7

Chapter 2: Filling Out the FAFSA ................................................. 9


STEP ONE: GENERAL STUDENT INFORMATION ................................................................................. 9
Questions 1-31 (including drug conviction question)

STEP TWO: STUDENT/SPOUSE INCOME AND ASSETS .................................................................. 12


Questions 32-47 (and questions 70-83 for parents), Worksheets A-C,
Qualified tuition programs (QTPs) or 529 plans, Reporting “take-back” mortgages,
Reporting trust funds, Ownership of an asset

STEP THREE: DEPENDENCY STATUS ................................................................................................... 22


Questions 49-54, Dependency overrides, Who counts as a parent,
Other sources of support for children and other household members, Veteran match

STEP FOUR: PARENTS’ INFORMATION (DEPENDENT STUDENTS ONLY) .................................. 28


Questions 55-72 (see Step Two for discussion of questions 70-83), Reporting
information in cases of death, separation, divorce, and remarriage

STEP FIVE: HOUSEHOLD SIZE AND NUMBER IN COLLEGE


(INDEPENDENT STUDENTS ONLY) ................................................................................................. 30
Questions 84-85

STEP SIX: SCHOOL INFORMATION ...................................................................................................... 31


Questions 86-97

STEP SEVEN: SIGNATURE REQUIREMENTS ....................................................................................... 32


Questions 99-103, Substitutes for a parent’s signature, Signatures for
electronic applications
Chapter 3: Expected Family Contribution (EFC) ..................... 35
GENERAL INFORMATION ....................................................................................................................... 35

SIMPLIFIED FORMULA ........................................................................................................................... 35

AUTOMATIC ZERO EFC .......................................................................................................................... 36

ALTERNATE EFCS ..................................................................................................................................... 36

FORMULA A — DEPENDENT STUDENTS .......................................................................................... 37


Parents’ contribution, Student’s contribution from income, Student’s contribution
from assets, Alternative EFCs for other than nine-month enrollment

FORMULA B — INDEPENDENT STUDENT WITHOUT DEPENDENTS


OTHER THAN A SPOUSE ........................................................................................................................ 41
Contribution from available income, Contribution from assets,
Alternate EFCs for other than nine-month enrollment

FORMULA C — INDEPENDENT STUDENT WITH DEPENDENTS


OTHER THAN A SPOUSE ........................................................................................................................ 43
Available income, Contribution from assets, Calculation of student’s EFC,
Alternate EFCs for other than nine-month enrollment

EFC WORKSHEETS ................................................................................................................................... 47


Formula A, Formula B, Formula C

Chapter 4: Verification ................................................................ 75


REQUIRED POLICIES ............................................................................................................................... 75

APPLICATIONS TO BE VERIFIED ........................................................................................................... 76


30% Verification option, Selection after disbursement,
Verification exclusions

REQUIRED VERIFICATION ITEMS ......................................................................................................... 79


General documentation requirements and the verification worksheets,
Household size, Number enrolled in college, Adjusted gross income (AGI) and
U.S. income tax paid, Tax documents: special situations and alternatives,
Untaxed income and benefits, Using a joint return to figure individual AGI and taxes paid

COMPLETING THE PROCESS................................................................................................................. 88


Interim disbursements, After documentation is complete, Verification tolerance,
Late disbursements and failure to submit documentation, Verification status codes,
Verification worksheets (dependent and independent)
Chapter 5: Corrections, Updates, and Adjustments .................. 95
CORRECTING ERRORS ............................................................................................................................ 95
Options if error doesn’t affect eligibility, Options if correction increases
eligibility, Options if correction decreases eligibility

UPDATING.................................................................................................................................................. 96
Dependency status, Household size and number in college,
Effect on previous disbursements

HOW TO SUBMIT CORRECTIONS AND UPDATES ............................................................................ 98


Using “Corrections on the Web,” Submitting changes via
FAA Access to CPS Online, Using the Student Aid Report (SAR)
to make corrections, Adding schools and changing a student’s address

PROFESSIONAL JUDGMENT ................................................................................................................. 99

CONFLICTING INFORMATION ............................................................................................................ 101


Subsequent ISIRs, Discrepant tax data, Resolution of conflicting information

REFERRAL OF FRAUD CASES .............................................................................................................. 102


Office of Inspector General address and phone numbers

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