Office of Student Aid : Parents of Students : Parent Newsletter

Penn State Office of Student Aid Parent Newsletter
Volume 5, Issue 1-- May 2007

Financial Aid Verification--Selection and Completion

The U.S. Department of Education requires that every accredited institution of higher education in the United States verify the accuracy of information provided by a portion of students and families when they apply for federal student aid. 'Verification' is the process of confirming the information that was supplied on the Free Application for Federal Student Aid (FAFSA). It allows us to ensure that all Penn State students are receiving their correct amounts of loans, grants, scholarships, and work-study. By signing the FAFSA, you and your student have agreed to provide information that will confirm the accuracy of the completed FAFSA.

If your son or daughter is selected for verification by Penn State, our office will send a letter that clearly outlines the information we need to your permanent address. Some students will receive a message on their Student Aid Report (SAR) that indicates they have been selected for verification. You and/or your student will only need to submit documentation if your student receives a request from Penn State.

When selected for verification, some families worry they have made mistakes or feel they were unfairly singled out for verification. At Penn State, only families who report discrepant information or enter data in error-prone areas of the FAFSA are selected. If an error was made while completing the FAFSA, and we verify it by collecting documentation from your family, we will submit the FAFSA changes directly to the U.S. Department of Education. Additionally, we will make any necessary changes to your student's financial aid award.

If you receive a request from our office to submit documentation, it is important that you provide the information within the time period specified in the letter. You and your student should be prepared to provide any required documentation as soon as possible to prevent delays in the processing of the financial aid award. We recommend that you save copies of all financial documents for the years related to your student's application for student aid. If selected for verification, we may need copies of student and parent federal income tax returns or W-2 forms. The following checklist should help you streamline completion of verification and prevent the need for us to make a second request for information:

• Please complete all forms in their entirety using **black** ink.
• Be sure to place a "zero" in response to questions that ask about resources that you and/or your student do not receive--do not leave blanks or use dashes.
• Provide signatures, where required. Both student and parent must sign their respective tax returns as well as any Penn State verification forms. (Parent signatures are required only for dependent students.)
• Include the student's name and PSU ID on each page that you send.
• Make sure all copies are legible.

If there are discrepancies between the verified information and the information originally submitted on the FAFSA, any aid your student was awarded may change. Failure to submit requested information will result in cancellation of most student aid awards. If a student has already been awarded student aid and has received funds based on incorrect information, the student aid will have to be paid back.

Accuracy is important when completing the FAFSA and the verification process. Any person who intentionally makes false statements or misrepresentations on a federal aid application violates the law and is subject to a fine, imprisonment, or both.

After our office receives the updated information, a verification review typically will be completed within ten - fifteen business days. Only if there is a change in his/her financial aid award will your student be notified. Students should also access and monitor their verification and student aid status by selecting Student Aid Summary from the "Students" menu on eLion, Penn State's hub for interactive student applications.

The best way to return verification documents to the Office of Student Aid is via fax to 814-863-0322 (Attn: Verification). Our fax line is available 24 hours a day, seven days a week. If faxing documents, please do not mail back-up copies, as this will cause processing delays. If you receive a fax confirmation from your fax machine, you can be assured we received your documents and you do not need to confirm receipt. We will contact your student if additional information is needed. Finally, any documents faxed to our office go directly into an electronic filing system without creating any "hard copies" on our end. This is a security measure to protect your personal information.