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Verification in Banner

Verification in Banner. Agenda. Defining Terms Forms and processing. Defining Terms. Federal ‘Verification’ The process of verifying the accuracy of certain data elements the applicant submits on the FAFSA and CPS reports in the ISIR sent to the institution Institutional ‘Verification’

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Verification in Banner

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  1. Verification in Banner

  2. Agenda • Defining Terms • Forms and processing

  3. Defining Terms • Federal ‘Verification’ • The process of verifying the accuracy of certain data elements the applicant submits on the FAFSA and CPS reports in the ISIR sent to the institution • Institutional ‘Verification’ • The process of verifying the accuracy of any application data element that affects institutional funding expenditures to meet the applicant’s need

  4. Defining Terms (cont.) • Required Federal verification items • Household size • Number in college • Adjusted Gross Income (AGI) • U.S. taxes paid • Certain untaxed income and benefits • SS benefits, child support, IRA/Keough deductions, foreign income exclusion, earned income credit, interest on tax-free bonds

  5. Defining terms (cont.) • Items institutions examine as resources/ ‘indicators of wealth’ and/or hidden income • Divorce/separated? • Family business? • Trust? (Missed on FAFSA) • Home equity?

  6. Verification in Banner • Banner functionality is configured to fulfill federal verification requirements, but also lends itself to institutional verification requirements • Need Analysis Document Verification Form: RNAVRxx • Also useful: RNANAxx, RNAPRxx, RNASUxx, RNARSLT, RNARSLT, RNAOVxx, RNINAIQ, RNIMSxx • Report: RNRVRFY (Federal requirements) • Identifies discrepancies and optionally updates FAFSA information

  7. Federal Verification: RNAVRxx Need Analysis Document Verification Form* ‘EDE Correction’ from ROAINST Checking boxes enables updating of respective fields in application record (on RNANAxx) when RNRVRFY is run with update parameter set to ‘Y’ Scroll: B, C Worksheet fields * Second window: Parent Information

  8. Federal Verification: RNRVRFY • Verification Discrepancy Report prints discrepancies between verification documents and application data. • Option: Update the application with verification data

  9. RNRVRFY (cont.) Report Output

  10. Institutional: RNASUxx Need Analysis Supplemental Form Divorced or separated

  11. Institutional: RNASUxx (cont.) Divorced or separated Trust

  12. Institutional: RNAPRxx Asset window Home equity

  13. Institutional: RNAPRxx (cont.) Assets (cont.) Business or farm value

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