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Office Use Only STUDENT FINANCIAL ASSISTANCE Asset Verification Academic Year 2012-2013 If you need

Office Use Only STUDENT FINANCIAL ASSISTANCE Asset Verification Academic Year 2012-2013 If you need -2025

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The document is a form for asset verification required by the Student Financial Assistance office for the academic year 2012-2013. It outlines the necessary student information, instructions for completing the form, and sections for reporting financial assets. The form emphasizes the importance of accuracy and completeness, requiring signatures from both students and parents if applicable.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

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 year does FAFSA look at assets?

The asset protection allowance has been removed starting from the 2023 2024 FAFSA. This means, all of the familys assets will now be taken into consideration when calculating federal aid.

How long does the verification process take for financial aid?

How long does the verification process take? Verification processing time is generally two to three weeks during peak season (June-October), and one to two weeks during non-peak season (November-May). Therefore, students should start the process as soon as possible.

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.

Why was I selected for financial aid verification?

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 is financial aid thats based on a students financial need and usually doesnt need to be paid back?

A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances. Find out why you might have to repay all or part of a federal grant. You may not receive Federal Pell Grant funds from more than one school at a time.

Why is FAFSA asking about student assets?

Why do they need this info? FAFSA requires details about your (and your spouses, if youre married) financial assets to help calculate how much aid youll need to pay for college.

Office Use Only STUDENT FINANCIAL ASSISTANCE Asset Verification Academic Year 2012-2013 If you need -2025

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