I filed FAFSA late for DD and I expected to be picked for verification…However, how do I know when the verification is completed? I think I don’t understand the process…
I filed very late, and due to the family issue, I expected to be asked for verification and I am okay. However, I began to receive financial aid packages, and all of them told me that those were estimates and I would be asked to verify my information, but when I logged onto the portal, I only saw the generic documents say, nonfiling status (for DD and it is still outstanding), send the IRS transcript, direct student loan counseling …I asked the colleges, and was told that those were what they asked as of now…
Will the colleges ask for more document once DD commits ? Will the “real” verification begin begin after May 1 or after we submit the verification of nonfiling status?
Did you submit the IRS transcript? That is often all that is required.
Being late doesn’t mean you’ll be selected for verification, but the fact that you can’t use the IRS retrieval tool does. Even in the past, something like 1 in 3 were selected for verification, and some schools verify everyone. They will ‘tell’ you what they need, but that request is often on the portal so check often, or it could go to a spam folder. Just watch for it an submit whatever they ask for.
The college will tell you what theynwant to receive if you are selected for verification. Make sure your kiddo keeps an eye on her student portals…and checks her spam folder as well.
Yes, I submitted the IRS transcript, checked daily and submitted everything with the exception of nonfiling verification for DD(waiting for IRS but made an appointment a week later), the information will not match the transcript as I filed jointly but separated, hence I expect to be asked to provide more…but only one college asked for more document and it was because I kept on asking them (LOL)…is it normal ? I am concerned when I am reading other threads on the financial aid package changed.
If the information was correct (you filed jointly in 2015, but you only reported your income on the FAFSA now) it should be correct. WE can’t tell you if the school will change your EFC and it could change for the better if your income is lower than reported).
The schools might want W2’s for you to show the split in income in 2015, or a end of year paycheck.
the college that asked for more documents did ask for W2 which I sent. I even showed both parents’ separate income…I know you can’t tell whether the school will change the EFC, or the package, I am just trying to find out when does a college normally decide the verification is completed and that the package is final.
There is no date. For example, I filed the FAFSA last Oct. One school processed it for D#1 in late Jan, made a change to the FAFSA information (they just added the amount of loans she’s taken out already) and posted the FA for next year in the portal. D#2’s school hasn’t processed anything yet. They never do until the summer. If they need more info, they’ll ask. This is the fourth year for us, so since nothing much has changed they are probably good with what we submit. The second year I had more of a verification, including providing info to D#1’s school that D#2 was still in school, the name of the school, etc.
You just have to keep providing what they ask for. It is likely they’ll change nothing if the information you provided doesn’t change.
There is no specific date. Why don’t you call the college financial aid office and ask if what is on the student portal is not clear?
But for others reading…this is one of THE reasons not to file a fafsa on the late side. The fafsa becomes available for filing in October now…using prior prior year tax return information.
The earlier you file your FAFSA, the earlier any verification materials,can be requested and returned to the school.
@annamom give the school a quick call…today…as some school financial,aid offices will be closed for,thenholiday weekend starting tomorrow. Ask if they have received your requested verification materials, and if anything else is needed.
And get that non-filers form today…and submit it. Your verification process will be incomplete until all materials are received…and they definitely asked for that.
The FAFSA asks about marital status, AGI, income from working, federal tax paid.
I think @kelsmom said in another post that if you filed jointly in 2015, and now only need to report your income, you can calculate your tax by figuring what it would have been, had you filed head of household with your income only.
You can ask the FA office if that is correct.
You also need to report any pretax 401k contributions from 2015 under untaxed income on the FAFSA.
And your assets as if day of filing FAFSA, student income and student assets (if asked for).
If you reported everything and provided all documents, then they should be able to complete their verification.
thank you. I knew I should have filed early. @twoinanddone thanks. My concern is my AGI for 2016 increased due to unearned income, all my calculation was based on 2015. @thumper1 I have made the appointment with IRS, the earliest date for appointment is more than a week from now.
@thumper1 I knew it is prior prior year, but when I looked into a number of colleges’ appeal process, they asked for 2016 income. Hence I was concerned.