Verification Process Revisions
The verification process will continue to change for each new award year. Do you find this re-evaluation of the verification process and requirements to be beneficial? Please explain.
Joy,
Interesting points. I am sure other participants will have comments related to their experience with the new verification categories. I agree with you that the categories seem to limit and isolate the real concern with the items reported and I prefer this new evaluation process. The V-6 category will continue to evolve over the 15/16 award year and I am interested to see where this category ends up and what requirements may become mandatory.
Sincerely, Chyrl
Chyrl Ayers
The changes to the verification are beneficial to ensure the right students are getting the correct financial aid. The 14/15 V6 although is seems combersome is not unlike how we had completed verifications in the past with all types of untaxed income included. However, we are finding most students/families selected for the V6 have a zero EFC when selected and remain a zero EFC once verification has been completed. The other significant change is the filing status requirement where we are finding numberous incorrect filing status. This is an ever growing problem.
I do find the re-evaluation of the verification process to be beneficial because in the past there has been a history of schools abusing the use of title IV funds. The identity and statement of educational purpose is great because there have been cases of identity theft and I would hope that this has been reducing those instances. The IRS data retrieval tool has been extremely useful if a student is eligible to use it because it almost makes the FAFSA "foolproof" for the student to complete the financial portion of it. With the high school completion, we have been running into some issues especially with the homeschooled students because meeting HS completion varies from state to state. We were able to put together what is required to satisfy verification for this aspect just recently because we do not get too many homeschool students who apply. Due to the HS completion requirement now with the DOE, we have moved some the responsibility to admissions to obtain proof of graduation which has helped tremendously when it comes to verifying this.
Miriam,
Any tool to improve the process for the student and the FA staff is important. This way you can focus on what the student and/or parent (for dependent) needs to complete the process.
Sincerely.
Chyrl Ayers
I find the new verification form is very helpful, it actually tells you what you need to verify and which form to use.
Jeffrey,
Checks and balances are a great way to ensure that students and/or parents information is accurate. However, if you collect different documents with the same information make sure you do not miss any conflicting information provided by the student or parent.
Sincerely,
Chyrl Ayers
Yes I think the re-evaluation of the verification process is beneficial. It allows more checks a balances when it comes to the correct info added to the FAFSA.
Kim,
You point is a good one. No one is crazy about change; however, it maybe easier for a student or parent to understand the new Verification Categories and the documents required for completion. The new categories will allow the student and/or parent to fully understand why and what is required.
Sincerely,
Chyrl Ayers
Very much. I've seen the upcoming verification changes for the 2013-2014 award year and although lengthy, this information helps to better explain to students WHY we do these reviews. As well as parents who are concerned on giving their personal documents out.
