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VERIFICATION PROCESS UPDATE. Lisa Hearn Coordinator of Communications Management Financial Aid. Ozarks Technical Community College 14 th Annual Counselors’ Financial Aid Workshop. 2013 – 2014 Verification . 1 st Year of Customized Verification
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VERIFICATION PROCESS UPDATE Lisa Hearn Coordinator of Communications Management Financial Aid Ozarks Technical Community College 14th Annual Counselors’ Financial Aid Workshop
2013 – 2014 Verification 1st Year of Customized Verification 26150 FAFSAs received as of Thursday last week: • 8747 selected for the standard verification process • 50 selected for SNAP (eliminated for 14-15 FAFSA year) • 169 selected for child support paid • 33 selected for custom verification • 82 Selected for aggregate
2014 – 2015 Verification New Verification Items • New Group added: Household Resources Group • # in household & college • Tax filers: AGI & U.S Income Tax Paid • Non-tax filers: income earned from work • SNAP & child support paid: only if indicated on the FAFSA • **NEW: Other untaxed income on FAFSA • Student questions # 45a-j • Parent questions # 94a-j • Why the new group? • Looking for unreported household resources
Parent Marital Status Legal Parent definition: biological or adoptive regardless of the marital status or gender if those parents live together Some things haven’t changed: • Divorced, legally or informally separated: student still puts only the information of the parent the student resided with for the greater portion of the 12 months preceding the date of completing the FAFSA • If the parents live together they can’t be considered informally separated • Remarried: step-parent’s information is still used on the FAFSA