May 26, 2020  
2019-2020 Student Handbook and Undergraduate Catalog 
  
2019-2020 Student Handbook and Undergraduate Catalog

Verification Of Financial Information For FAFSA


Verification is the process of comparing the data from the FAFSA report to the official supporting documents. The Financial Aid Office is required to verify all applications selected by the FAFSA processor. The Financial Aid Office may also select additional applications based on incomplete or conflicting information.

If your application is selected for verification, you must provide the official document(s) used to complete the FAFSA to the Southeast Arkansas College Financial Aid Office. Acceptable documents include Tax Return Transcripts faxed or mailed directly from the IRS, and other official documentation as designated by the US Department of Education.

You may be asked to verify such information as follows:

  • Adjusted Gross Income (AGI)
  • U.S. income tax paid
  • Untaxed portions of IRA distributions
  • Untaxed portions of pensions
  • IRA deductions and payments
  • Tax-exempt interest income
  • Education tax credits
  • Income earned from work (nontax filers)
  • Number of household members
  • Number in college half-time, excluding parents
  • High school completion status
  • Identity and Statement of Educational Purpose

Students selected for verification will have a maximum of 10 business days from the date you are notified to produce all requested documents. While the requested documents will still be accepted after this time, priority cannot be guaranteed.

Students and parents are encouraged to use the IRS Data Retrieval Tool (IRS DRT) to retrieve accurate information from the IRS into the FAFSA application. Successful retrieval may reduce the documentation requested.

In general, the student does not have to make any corrections during the verification process because the corrections are made by the Financial Aid Office once all verification documents have been submitted. If the student is required to make corrections by the Financial Aid Office, he/she will be instructed which items to change/update.

It is the College’s policy to complete verification and submit all corrections to the FAFSA processor before awarding or disbursing any federal student aid funds.