Verification Guide 2014-2015

Verification Guide for 2014-2015

The information on this page relates to FAFSAs filed for the 2014-2015 year and applies to the Fall 2014, Spring 2015, and Summer 2015 academic semesters at TCC. 

For information specific to your financial aid account you will need to visit the Financial Aid Dashboard through MyTCC Portal.

  1. What is verification?
  2. I have been selected for verification. What does that mean for me?
  3. What documents should be submitted?
  4. How do I submit documents to the Financial Aid office?
  5. How do I submit a tax transcript?
  6. How do I determine the number of people in my household?
  7. I or my parent listed the tax return filing status as "Will File." What does that mean for verification?
  8. What if my parents or I will not file taxes?
  9. How can verification affect my eligibility for financial aid?
  10. What happens if I do not complete verification?

 

1. What is verification?

Every year the U.S. Department of Education selects a number of FAFSA applicants for a process known as “verification.” Students who are selected for verification will be notified on their SAR (Student Aid Report) after they have completed a FAFSA. Additionally, once a student's FAFSA is received by the school then TCC will notify a student via the Financial Aid Dashboard as to whether they are selected for verification, and what a student must do in order to complete verification.  The Financial Aid Dashboard can be accessed through MyTCC portal.

 

2. I have been selected for verification. What does that mean for me?

The TCC Financial Aid office is authorized to request certain documents from students selected for verification, and those students must submit the requested documents before any Title IV Financial Aid can be processed. 

Requested documents can include:

  • A copy of a signed 2013 tax return transcript from the student, the student's spouse (if student is married) and/or the student's parents (if student is dependent.) 

  • Various forms verifying any of the following from the student: tax filing status, untaxed income, SNAP benefits received, and child support paid and/or received for 2013.

  • Proof of high school completion from the student.

  • Proof of the student’s identity.

  • Statement of number of people in household, and number of those in the household who will be attending college at least half-time for the 2014 - 2015 year.

  • Other additional documents.

 

3. What documents should be submitted?

Tulsa Community College will notify students via the Financial Aid Requirements tab on the Financial Aid Dashboard (which is located inside MyTCC Portal) as to what kind of documents are required in order for verification to be completed. It is the student's responsibility to be aware of the progress of verification, which can be followed on the Financial Aid Dashboard. 

 

4. How do I submit documents to the Financial Aid office?

Certain forms are located the TCC Financial Aid Forms and Documents Library on the website. Other documents can be submitted electronically via the requirements section of the Financial Aid Dashboard. All verification documents need to be submitted at any TCC Financial Aid and Scholarships Office.  

All documents submitted for verification must include student's TCC student ID and a student signature. Additional signatures may be needed from a parent or spouse, depending on the document. Additional documents may be requested at any time during the verification process.

 

5. How do I submit a tax transcript?

Students can either link taxes electronically when completing the FAFSA, or else submit signed tax return transcripts to any TCC Financial Aid office. TCC cannot accept photocopies of 1040 forms.

 

To obtain a tax return transcripts visit the IRS website. Select either “Get Transcript ONLINE” or “Get Transcript by MAIL.”  Students who wish to access their transcript online must first register as a user with the IRS website for security purposes. 

 

6. How do I determine the number of people in my household?

Part of the verification process includes students reporting how many individuals are living in their household. For dependent students the number in household should include parents, and any dependents for whom the parents provide more than 50 percent of the dependent's annual support, such as the student’s siblings. Parents cannot be counted as number in college for dependent students.

For independent students the number in household should include spouse (if student is married) and number of dependents for whom the student provides more than 50 percent of the dependent's annual support. Generally, parents, siblings and other non-custodial minors should not be counted in an independent student's household.

 

7. I or my parent listed the tax return filing status as "Will File." What does that mean for verification?

When completing the FAFSA, students and parents are allowed to claim their current tax filing status as "Will File," which indicates the tax filer will file taxes for the year at a later date. Those who claim "Will File" are allowed to use reasonable approximations when reporting financial information on the FAFSA. The expectation when completing the FAFSA with a "Will File" tax status is that the applicant will update the FAFSA at a later date when the taxes have been completed so accurate data can be reported.

Claiming "Will File" does not exempt a student from verification. Students and parents (if student is dependent) must provide a tax return transcript in order for verification to be completed.

 

8. What if my parents or I will not file taxes?

Students or parents of students who are not required to file taxes are exempt from providing a tax return transcript; however, non-filers must still report any income received for the year for verification purposes on the Student Income Verification form or the Parent Income Verification form. Furthermore, if during the process of verification a TCC employee finds a student or parent is required to complete a tax return, but has not yet done so, then verification will not continue until taxes have been filed.  

 

9. How can verification affect my eligibility for financial aid?

Verification is a process whereby a TCC financial aid advisor checks the information the student reported on the FAFSA against the information on the documents submitted by the student. There are times when it is necessary for the advisor to correct information on a student's FAFSA, which can lead to changes in eligibility in the type of aid that can be received, and / or the amount of aid that can be received.

 

10. What happens if I do not complete verification?

Students who do not complete verification during the 2014 - 2015 year cannot receive state or federal financial aid for the entire 2014 - 2015 year. Furthermore, students who fail to complete verification may also be disqualified from certain scholarships, such as Tulsa Achieves.

Students can still attend class at TCC without completing verification, but those students must find an alternative method of payment for school besides Financial Aid. Students can complete verification any time during the 2014 – 2015 academic year; however, delays in submitting documents may result in being de-enrolled from classes by TCC if a student does not make payments on his balance.

 

 

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