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FAFSA Verification - What is it? What do I need to do?

Verification is the process the Department of Education uses to verify information on the FAFSA is accurate and complete. 

 

WHO IS SELECTED?

Students are selected for verification for one of the following reasons:
1.  The Central Processing System found inconsistencies and/or potential errors in the student’s FAFSA
2.  Random selection
3.  School selection

 

WHAT IS the IRS DATA RETRIEVAL TOOL?

The IRS Data Retrieval Tool is a part of the online FAFSA that allows student /spouse and/or parent(s) to transfer tax return data from the Internal Revenue Service into the FAFSA.  Use of this tool is the best way to verify income data and allows for faster review during the verification process.   

 

WHAT DO I DO IF I AM SELECTED?

  • Check requirements in BANNER to confirm the type of verification worksheet to be completed
  • Download the verification worksheet from the FORMS section of the Financial Aid Homepage
  • Complete all sections of the verification worksheet
  • Correct your FAFSA  to use the  IRS Data Retrieval Tool (if you have not already used it)  OR
  • Request the IRS TAX RETURN transcript (if unable to use the IRS Data Retrieval tool)
  • Submit the worksheet and any required documents (as a packet) to the Office of Financial Aid

HOW DO I OBTAIN A TAX RETURN TRANSCRIPT FROM THE IRS?

  • Request online at  www.irs.gov  (select “Order a Return or Account Transcript”)
  • Request by phone: 1-800-908-9946   
  • Request in person at local IRS Office (see “Contact Your Local IRS Office” at www.irs.gov)

 

WHAT HAPPENS AFTER I SUBMIT MY INFORMATION?

Once you submit documentation, the Office of Financial Aid will:

  • Review the documents to be sure they are complete.  If the documents are incomplete (missing signature, questions left blank, etc.), you will be notified to resubmit the documents.
  • Once all the documents are complete, the Office of Financial Aid will review the information and compare it with the information reported on the FAFSA.  This can take 5-10 business days depending upon the volume of all student paperwork being submitted.
  • If the review of information  raises additional questions for which clarification is needed, additional documents may be required. 

WHAT HAPPENS IF THERE ARE DISCREPANCIES?

If discrepancies are found, the Office of Financial Aid will make corrections to your FAFSA.  If the corrections lead to a change in your eligibility, the Office of Financial Aid will revise your award the send an email to your MUW email account informing you that changes have been made.

 

HOW CAN VERIFICATION AFFECT MY AWARD?

Federal and some state financial aid will only be awarded once the verification process is complete.   A prompt response to requests for information will minimize a delay in financial aid being credited to your student account.  Verification must be completed by the last day of the enrollment term. 

1100 College Street Columbus, MS 39701phone: 662.329.4750 or 877.462.8439