I filed amended return in August that it was accepted by the IRS in October 2019. We filed FAFSA with amended AGI. We were selected for verification and submitted all documents. My daughter was offered financial aid pell grant and grant from university and aid was accepted by us. It was just updated on june 16th. Since we mistakenly said to use data transcript during verification thinking IRS would have updated info our EFC changed and she lost Pell Grant and grant from school because we now know data transcript uses information from return as originally filed. Only Record of account shows amended return was accepted and the new AGI. We have tried to get in touch with financial aid for three weeks when we saw aid had disapeared, but during covid has been frustrating. They now have copy of amended return page 1 and per the University’s request we just sent page 2 with the following details of problem. We have been asking for help for three weeks. Will the school correct FAFSA and reinstate her aid? This has been so stressful.
Yes, the school will eventually correct the financial information. She will get the Pell grant, assuming all information you entered was entered correctly (school has to change it if you entered something incorrectly, which can happen). Whether or not you get the school grant back is something only the school can answer, though.
Keep trying to follow up on this so it does not fall through the cracks.
You can’t use the DRT when you have amended the return.
Rereading it, it sounds like OP entered amended figures manually. When selected for verification, they used the DRT. That pulled the initial tax return information. Only the school can update to the amended figures, and it sounds like OP has sent that info. If the school has everything they need, it’s just a matter of waiting until they get to it.
We have learned the hard way and did not use it to begin with because amended return had not been accepted by IRS. The school requested permission to use it in late April and we saw no problem because we erroneously assumed data would be updated. Their request form should say do not authorize data verification if you have filed amended return! It has only been three weeks since aid was changed and we got in touch immediately but everybody is working remote and response is slow. I finally just sent amended return through University drop box. We made decision to attend based on aid. I will follow up, but was hoping to get an e mail to indicate what would happen next now that they have info. I wonder how fast they would put in for corrected FAFSA? I sure hope aid is still available from grant from school.
This info is so helpful and gives me some hope. I truly hope her Grant money is reinstated. Covid just complicates things and I know Universities are hurting financially. I hope some students are choosing not to return or it has been such a short amount of time since change was made and maybe the money is still available. It was an honest misunderstanding of how the system works with amended return and the inability to get to people during covid because of financial aid working remote!! Nobody is answering the phone.
I know it must be frustrating. Keep trying, and let us know what happens.