<p>What exactly do colleges do with a tax transcript? Do they send it somewhere? Also, when will my FAFSA validation be complete?</p>
<p>They look at it and verify it matches up with what was put on the fafsa. There should also be a verification form you have to fill out and give them. This generally has questions about family size, which kids are in college and where, asks about subsidized school lunches etc. If the student didn’t file a return there is also a non-filers form that needs to be filled out. Once they receive all that, it takes a varying amount of time for the schools to process it. My son’s school took 3-4 days.</p>
<p>How long it takes depends on the school. I worked at a large state U - we were understaffed and overworked. I came in early and left late, and I was usually 4-6 weeks behind in my verifications at this time of year. In another few weeks, I would be about 2-3 weeks behind. I wouldn’t be caught up until May-June … and even then, it could take a week for your verification to be on my list, since the lists were only run every Friday.</p>
<p>So, kelsmom, what happens to your financial aid status/offer while you wait for verification? We were selected for verification, I ordered my transcript online (still waiting for it to come, it’s been almost 2 weeks). When my D logged in to one of her top choice’s website, it lists her FA as incomplete and lists the required verification forms. Does this mean they aren’t going to process her FA until then? My assumption was that they would make an offer contingent on the verification. Am I wrong? These are flagship public universities.</p>
<p>Also, I was under the impression that I could make copies and sign the copies of the tax transcript to send to multiple schools. Did I need to make multiple requests and send an original to each school? I just saw this posted on another thread here…</p>
<p>I can answer based on my own experience and my conversations with other financial aid professionals at workshops and conferences. Most schools will do an estimated financial aid package for first-time-in-a-college students (high school seniors). They will adjust the package if verification changes things. For non-traditional students, transfers, and returning students, many schools do not package aid until verification is complete. I would think your D would be packaged with an estimate.</p>
<p>You should always talk to someone directly at the IRS and ask to have the transcript faxed immediately — hit 0 over & over, and you will get a person. That is by far the fastest way to get the transcript. You should be able to copy the transcript and send it to each school … just sign every copy. I can’t imagine this not being okay with a school, but you never know.</p>
<p>We concentrated on incoming freshman verifications first, by the way, even though we did an initial estimated package. Our goal was to get the “real” package to them in time for them to make decisions.</p>
<p>Thank you!! I will contact the FA offices of D’s top choices today and check with them. I think I will also go to our local IRS office and get a copy of the transcript today so that I can get it all out in the mail. Thanks, once again, for your help.</p>