Michael,
The FSA Handbook - AVG Section - Verification chapter indicates your college must have written policies and procedures on the following items:
deadlines for student to submit documentation & consequences if they fail to submit;
method of notifying students of changes in their awards due to verification;
correction procedueres;
standard procedures for referring overpayment cases.
Also, the guidance in the FSA Handbook indicates your college must provide the applicants selected for verification a written statement explaining:
Documents required;
Student responsibilities; and
Notification methods;
As long as your policies have procedures to meet these requirements you are within the requirements.… >>>