financial aid verification faqs

1)  WHAT IS VERIFICATION & WHY AM I GETTING SO MANY EMAILS & CALLS ABOUT IT?

2)  WHY WAS MY APPLICATION PULLED FOR VERIFICATION?

3)  WHAT PARTS OF THE FAFSA APPLICATION USUALLY LEAD TO VERIFICATION?

4)  WHY IS CHEYNEY UNIVERSITY HOLDING UP MY FINANCIAL AID BECAUSE OF VERIFICATION? 

5)  HOW DO I KNOW IF I HAVE TO GO THROUGH THE VERIFICATION PROCESS?

6)  WHAT IF I AM A DEPENDENT?

7)  WHAT IF I AM AN INDEPENDENT?   

8)  HOW CAN I COMPLETE THE VERIFICATION PROCESS QUICKLY WITHOUT MAKING MISTAKES?

9)  WHAT IF I CAN'T USE THE IRS DATA RETRIEVAL PROCESS?

10)  WHERE CAN I GO TO GET HELP THROUGH THE VERIFICATION PROCESS?

11)  WHAT IF I DON'T WANT TO COMPLETE THE VERIFICATION PROCESS?

12)  WHEN CAN I EXPECT MY FINANCIAL AID AWARD?

 

 

 

 

financial aid verification answers

1)  WHAT IS VERIFICATION & WHY AM I GETTING SO MANY EMAILS & CALLS ABOUT IT?

 

Verification is an important and necessary part of the financial aid process. 

Verification is an important process used to ensure that the right amount of financial aid is provided to the right students at the right time. Not everyone’s FAFSA is verified, but being selected doesn’t mean you’ve done anything wrong in the application process—going through the process could actually increase your financial aid award.

 

2) WHY WAS MY APPLICATION PULLED FOR VERIFICATION?

You may be selected for verification either by the federal processor or by Cheyney University. If you are selected for verification by the federal processor, there will be an asterisk next to your Expected Family Contribution (EFC) on your Student Aid Report (SAR). You will also be informed of having been selected for verification in the SAR acknowledgement letter, which will be included with your SAR documents.

 

3)  WHAT PARTS OF THE FAFSA APPLICATION USUALLY LEAD TO VERIFICATION?

The set of data elements potentially subject to verification include

 

4)  WHY IS CHEYNEY UNIVERSITY HOLDING UP MY FINANCIAL AID BECAUSE OF VERIFICATION? 

Verification is a federal regulation. Cheyney University’s financial aid office cannot process requests for professional judgment or disburse federal student aid until the verification process is complete. Students who are selected for verification are not being punished.  Verification

 

5)  HOW DO I KNOW IF I HAVE TO GO THROUGH THE VERIFICATION PROCESS?

 

CU prospective and current students selected for verification

 

6)  WHAT IF I AM A DEPENDENT?

Dependent Students will need to supply a copy of the student's and parent's federal income tax transcript (for the tax year prior to the current aid year).

 

 7)  WHAT IF I AM AN INDEPENDENT?   

Independent Students will need to furnish their (and spouse's, if applicable) federal income tax transcript.

 

 

8)  HOW CAN I COMPLETE THE VERIFICATION PROCESS QUICKLY WITHOUT MAKING MISTAKES?

The best action you can take to help finish verification is to use the IRS data retrieval process to automatically populate your and your parents’ tax information directly from the IRS into your FAFS. The IRS Data Retrieval Tool allows students and parents access to the IRS tax return information needed to complete the FAFSA form. Both students and parents are able to transfer tax data directly into the FAFSA.  This is highly recommended for three good reasons: 

Now that the IRS tax filing deadline has passed, you and your parents (if you are a dependent student) should log into your FAFSA at www.fafsa.ed.gov and make a correction to use the IRS data retrieval. This will allow you to link to the IRS from the FAFSA and retrieve the tax information to populate the FAFSA tax questions.  When you use the IRS data retrieval, the tax information is considered to be already verified so you will not have to submit any documentation, like tax transcripts, to the School Service Center which supports CU’s Financial Aid Office. 

 

9)  WHAT IF I CAN'T USE THE IRS DATA RETRIEVAL PROCESS?

Some students and/or parents will be ineligible or will choose not to use the IRS data retrieval.  In these cases, only the signed tax return transcript will be accepted as documentation to verify tax information.  The tax return transcript must be requested directly from the IRS by calling 1-800-9946 or visiting the IRS website.

If you do not use the IRS Data Retrieval Tool to provide tax information, and CU requests a copy of your tax return or your parents’ tax return, you will be required to obtain an official Tax Return Transcript from the IRS.

 

10)  WHERE CAN I GO TO GET HELP THROUGH THE VERIFICATION PROCESS?

Here is the website www.sscwp.org  and contact number 1-855-328-4400.

 

11)  WHAT IF I DON'T WANT TO COMPLETE THE VERIFICATION PROCESS?

Participation in the verification process is not optional if your FAFSA form is pulled for verification. If you do not submit the requested documentation, you will not be eligible to receive federal or institutional need-based financial aid and your parents will not be eligible to borrow a federal PLUS loan.

 

12)  WHEN CAN I EXPECT MY FINANCIAL AID AWARD?

A financial aid offer cannot be made until the verification process is completed.  Once the verification and/or correction process is completed, the student will be awarded within 5-10 business days. An e-mail notifying the student of the award will be sent to their email account.