<p>We received our EFC with an asterisk. It says it needs verification? What does that mean. H is self employed so I'm sure that's the reason, but what happens?</p>
<p>It means that the college will ask you to send in signed copies of the student's and the parents' tax forms - even for self-employed . If you do not have tax forms , they will ask for W-2's , paystubs , ect.</p>
<p>Have all your ducks in a row. We got it last year and just sent everything possible to the schools where son had applied. Financial aid was a huge application process but it turned out fine.</p>
<p>I assume I can wait until my taxes are done?</p>
<p>We had our taxes done and mailed off to correspond with financial aid deadlines for each school including all the extra materials and forms that needed to be filled out.</p>
<p>You can wait until your taxes are done...but you should do them ASAP after receiving all the W-2's, 1099's and other info. This is not the year to wait until April 15:)</p>