This post follows up on one NCAN published late in 2018 on changes made by FSA to reduce the burden of FAFSA verification on students applying for financial aid. The office of Federal Student Aid (FSA) released guidance about the types of documents that can be used to verify student’s income information, providing some relief to students struggling with FAFSA verification.
What does this mean for your students?
- Institutions can now accept tax returns (not just tax transcripts) to verify income, saving students time and hassle.
- If students are unable to obtain verification of nonfiling from the IRS, institutions can accept a signed statement.
Tip: Normalize verification as part of the financial aid process in your trainings, info sessions, completion programming and events.
- Financial Aid