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2016-2017 V-5 Aggregate Verification Worksheet (Independent) - escc

2016-2017 V-5 Aggregate Verification Worksheet (Independent) - escc-2025

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The document is the 2016-2017 V-5 Aggregate Verification Worksheet for independent students, which is required by Enterprise State Community College (ESCC) to verify the information provided in the FAFSA before awarding federal student aid. It outlines the necessary steps for students to complete and submit the worksheet along with required documents, including personal and family information, income verification, and proof of high school completion. The document emphasizes the importance of accuracy and provides instructions for obtaining IRS tax return transcripts if needed.

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What is V5 verification for FAFSA?

Students must verify identity/statement of educational purpose (SEP). V5Aggregate Verification Group. Students must verify identity/SEP in addition to the items in the Standard Verification Group (V1). Groups V2, V3, and V6 are reserved for future use by the Department.

What does it mean when your FAFSA has been selected for verification?

Verification is the process your school uses to confirm that the data reported on your FAFSA form is accurate. If youre selected for verification, your school will request additional documentation that supports the information you reported. Dont assume youre being accused of doing anything wrong.

How to avoid FAFSA verification?

A: The best way to avoid being selected for verification is to complete your FAFSA using the IRS Data retrieval tool, if possible. IRS data retrieval isnt an option for every applicant, but this one step will significantly reduce the likelihood of your application being selected.

How many people get selected for FAFSA verification?

FSA announced some good news at its most recent conference: For the current 2021-22 FAFSA cycle, the verification selection rate for all filers was reduced from 22% to 18%. However, the selection rate for Pell Grant-eligible FAFSA filers remains much higher.

What is the verification worksheet for FAFSA?

The Verification Worksheet - Dependent form is a form that is requested of a dependent student selected for FAFSA Verification. The form requires information from both parents and students to verify some of the information provided on the students Free Application for Federal Student Aid (FAFSA).

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Why was my tax return selected for verification?

Tax returns with high DIF or UIDIF scores are more likely to be flagged for review. Triggers for a high score include reporting significantly higher or lower income than the previous year, claiming unusually large business deductions or omitting required forms like a 1099.

Why was I selected for verification FAFSA?

Some FAFSA applications are selected because of inconsistent information, and others are chosen randomly. The Office of Financial Aid will request copies of your (and if a dependent student, your parents) IRS tax return transcript(s) and W-2s, as well as a verification worksheet if you are selected.

What happens if I dont do FAFSA verification?

What happens if I do not complete verification? If a student who is selected for verification does not complete the verification process, then any federal and/or need-based aid (Pell grant, SEOG, Work-Study, Federal Direct loans, certain Scholarships, and institutional aid) will NOT be awarded or disbursed.

2016-2017 V-5 Aggregate Verification Worksheet (Independent) - escc-2025

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