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Verification
2014 TASFAA New Aid Officer’s Workshop
Objectives
Understand Verification Flag Tracking Groups and Documentation Requirements
Easily Identify Verification Data Elements on Tax Documents
Obtain Verification Resources
Ask Verification Questions
2013-2014 Verification
GroupsVerification
Tracking FlagVerification Tracking
GroupVerification Description
V1 Standard Verification Group is standard verification
V2 SNAP Verification Group consist of only verifying SNAP
V3 Child Support Paid Verification
Group consist of only verifying Child Support paid
V4 Custom Verification Group
Group consist of : SNAP, Child Support Paid, High School Completion Status, and ID Proof/ Statement of Educational Purpose.
V5 Aggregate Verification Group
Group consist of V1 and V4 items: standard verification, SNAP, Child Support Paid, High School Completion Status, and ID Proof/ Statement of Educational Purpose.
Verification data elements for 2014-2015 aid year include verification items for 2013-2013 aid year and adding a V6 group.
V6 Group – Household Resources Verification.
Group V2 will not be used.Institutions must use exact
language provided in the Federal Register for the Statement of Educational Purpose.
2014-2015 Verification
Verification Tracking Flag
Verification Tracking Group
Verification Description
V1 Standard Verification Record selected because conditions based on statistical analysis error-prone risk model were met
V3 Child Support Paid Verification
Record selected for Child Support paid criteria only
V4 Custom Verification Group
Record selected for Identity criteria, SNAP, and Child Support Paid
V5 Aggregate Verification Group
Record selected for Identity criteria, “Standard Verification” criteria, SNAP, and Child Support Paid
V6 Household Resources Verification Group
Record selected for Other untaxed income, “Standard Verification,” SNAP, and Child Support Paid
2014-2015 Verification Tracking Flag
Groups
Documentation of HS Completion Status
• HS Diploma or final HS transcript showing date HS diploma awarded • Recognized Equivalent
– General Educational Development (GED) Certificate;– State certificate received by a student after the student has passed a State-authorized
examination that the State recognizes as the equivalent of a high school diploma;– Academic transcript of a student who has successfully completed at least a two-year program
that is acceptable for full credit toward a bachelor's degree; or– For a person who is seeking enrollment in an educational program that leads to at least an
associate degree or its equivalent and has not completed high school but has excelled academically in high school, documentation from the high school that the student excelled academically in high school and documentation from the postsecondary institution that the student has met the formalized, written policies of the postsecondary institution for admitting such students
• Homeschooled– Transcript or the equivalent, signed by the parent or guardian, that lists the secondary school
courses completed by the applicant and documents the successful completion of a secondary school education; or
– A secondary school completion credential for home school (other than a high school diploma or its recognized equivalent) provided for under State law
Identity/Statement of Educational Purpose
• Appear in person and present to an institutionally authorized individual:– A valid government-issued photo identification (driver’s license, non-driver’s
license, or passport); and – A signed statement of educational purpose
• Must maintain, an annotated copy of the identification submitted by the applicant that includes:– The date documentation was received; and – The name of the institutionally-authorized individual that obtained the
documentation• If unable to appear in person, must provide the institution:
– A copy of a valid government-issued photo identification (driver’s license, non-driver’s license, or passport); and
– An original notarized statement of educational purpose signed by the applicant
• Tax Filers– Household Size– Number in College– Child Support Paid– SNAP – Adjusted Gross Income– U.S. Income Tax Paid– Untaxed IRA Distributions– Untaxed Pensions– IRA Deductions & Payments– Tax-Exempt Interest Income– Education Credits
• Other Untaxed Income– Payments to tax-deferred pension and
savings plans– Child support received– Housing, food, and other living allowances– Veterans non-educational benefits– Money received or paid on student’s behalf
Non-Tax Filers– Household size– Number in College– Child Support Paid– Tax-Exempt Interest– Other Untaxed Income– Payments to tax-deferred
pensions and savings plans– Child support received– Housing, food, and other
living allowances– Veterans non-educational
benefits– Money received or paid on
student’s behalf
W-2 Form needed from each source of employment
Signed statement listing sources and amounts of other untaxed income.
2014-2015 Verification2013 Tax Matrix
• Earnings from Work– Wages, Salaries, Tips– Business Income/Loss– Farm Income/Loss
• Untaxed Income• Adjusted Gross Income (AGI)• Additional Financial Information• U.S. Income Tax Paid
• Amended Returns– Signed copy of 1040X and– Signed copy of original tax return or IRS transcript (with all data elements)
• Federal Means Benefits = Verification of Group Household Resources
• $25 Tolerance for non-dollar amounts• W-2 and/or Schedule C/C-EZ may be needed for tax filers• Do NOT accept IRS Verification of Nonfiling letter prior to June 15,
2014• Must still resolve conflicting information
• Verification &
Available Resources• Federal Student Aid Handbook
– Application and Verification Guidehttp://www.ifap.ed.gov/fsahandbook/1415FSAHandbookAVG.html
• NASFAA Ask Regs Knowledgebase http://askregs.nasfaa.org/ics/support/splash.asp
• Institutional Policies and Procedures• IRS Publication 17 found at www.irs.gov
Thank You!
Consuela MitchellAssistant Director of Financial Aid
Tarrant County College817-515-1786
Roy TubervilleFinancial Aid Manager
Intake/Processing
El Paso Community College915 831-2584
