Certain students are selected for verification by the federal government when a Free Application for Federal Student Aid, or FAFSA, is filed. Students are notified by SCAD via email and in MySCAD. When a student is selected for verification, the financial aid office is required to verify various data elements listed on the student's FAFSA. If you were selected for verification, please read the following instructions carefully to avoid a delay in processing your aid.
What you should do now
- Complete any requirements listed in the email notification you received from SCAD regarding verification. Most forms can be submitted electronically. View more details.
- If you successfully used the IRS Data Retrieval Tool when completing the FASFA and did not change the data on your FAFSA, you are not required to submit an IRS tax return transcript and will not be asked for one.
If you did not use the IRS Data Retrieval Tool, or if you made changes to the data transferred to your FAFSA, you must submit IRS tax return transcript(s) from two tax years prior.
- Dependent students must also submit their parent’s or parents’ IRS tax return transcript from two tax years prior.
- Independent students must also submit their spouse’s prior-year IRS tax return transcript if filing separately.
- Foreign tax returns must be converted into U.S. dollars, as on the FAFSA.
- IRS tax return transcripts can be requested online at irs.gov, by phone at 800.908.9946, or by mail using IRS Form 4506-T. Online is the fastest method.
- You also have the option to update your FAFSA using the IRS Data Retrieval Tool and, if no changes are made to the data, submitting an IRS tax return transcript is not necessary.
What happens next
The information submitted to SCAD is compared to the information on your FAFSA. This can take up to two weeks, depending on the time of year.
If there are no discrepancies between the information on your FAFSA and the information you supplied, your financial aid will be processed and you will receive an award letter via SCAD email.
If there are discrepancies between the information on your FAFSA and the information you supplied, SCAD will make the corrections. When the corrections are processed, you will receive another Student Aid Report from the government. Your aid will be processed and you will receive an award letter.
If SCAD does not have enough information or needs clarification on items submitted, you will be notified. Verification cannot continue until all issues are resolved. Financial aid is not awarded, or if already awarded, will not be disbursed, until verification is completed. If verification cannot be completed before the end of the quarter, you could lose eligibility for some types of financial aid for that quarter. Generally, financial aid cannot be awarded or disbursed after the end of the award year; therefore, timely submission of supporting documentation is imperative.
If you are selected for verification after you have received your initial award letter, your financial aid could change once verification is completed. You will receive an updated award letter via email within two weeks, if your aid changes.
SCAD will notify the Office of the Inspector General if fraud is suspected.
Did you request a time extension on your tax return?
If you have requested a filing extension, you must submit a copy of the completed Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, IRS Form 4868, along with the following documentation:
- Verification worksheet
- W-2s from all wage earners
- Self-employed persons must provide a signed statement with the amount of their adjusted gross income and taxes paid.
Did you submit an amended tax return?
If you amended your tax return, you must also submit a signed IRS Form 1040X tax return, in addition to your tax return transcript, to complete verification.
Contact us today for more information.