Hi, My Fafsa has been selected for verification. What does it mean? Does it increase my chances of getting financial aid?
It has nothing to do with increasing aid at all. It just means that they are going to do a double check to make sure your figures are accurate. People are selected for verification randomly, and also sometimes because there is something unusual in the figures.
"Verification is the confirmation through documentation that the information provided on a student’s Free Application for Federal Student Aid (FAFSA) is correct. The federal government requires colleges and universities to verify or confirm the data reported by students and their parent(s) on the FAFSA.
The college will tell you what documents they want.
Not connected to whether you will get need based aid, but you might already have an idea, if it is a FAFSA only school and you filed with your final numbers.
In our experience, the college requested income tax forms, everything required to file, for the four years D attended.
My FAFSA was selected for verification also. Do I send in the forms or wait for the schools to ask me? I have printed out some of the forms for a few of my schools already. I found them on their websites
Watch for emails telling you what each school needs. Either your personal email or a college email account if any have given you one. Also look on whatever online portal access you have and look for 'ToDo’s or ‘Holds’ or anything else indicating what you need to do. You will want to use the FAFSA IRS Data Retrieval Tool if you are eligible once the IRS has processed tax returns. Otherwise you’ll need to order a tax return transcript at the IRS site. But don’t send anything to the schools unsolicited, look for instructions from the schools on what is needed and how to send it.
We have been selected for verification every year we’ve had kid in college.
First year, had to order the official transcript.
Second year, just had to indicate we used the IRS data retrieval tool.
This year, despite using the DRT, we still have to provide a copy of our 1040A and W-2’s.
So it appears it could run the gamut, just follow the instructions that the college provides.
i know this is a month ago but I was just wondering how soon can i expect my financial aid summary to appear after submitting the fafsa verification?