Verification

The federal processor uses a system of edits, or flags, which produces a selection of certain applications for verification. If a student's application is selected for verification, this may mean that a data element in his/her application does not fit generally recognized patterns (not necessarily that the element is incorrect; it merely must be verified), or that the student was simply selected at random. HOFSTRA Student Financial Assistance Office also has the authority to select files for verification if there appears to be a conflict of information. If a student is selected for verification, the student is notified on the Student Aid Report (SAR).

2007-2008 Verification Worksheet (Dependent or Independent)

Signed 2006 Parents’ Federal Income Tax Returns and all schedules

Signed 2006 Student’s (and Spouse if applicable) Federal Income Tax Return and all schedules

W-2 forms alone cannot be used for verification.

If you need a copy of your tax return, call the IRS at 1-800-829-1040. Ask for a 1722 letter or tax transcript for the calendar year of 2006. This form is acceptable in lieu of an actual copy of your tax return.

Federal verification regulations require the following:

• Federal financial aid cannot be disbursed until verification is complete.
• Verification may result in corrections that change your award amounts and the deferment of tuition and fees.
• Stafford Loans may not be certified until verification is complete.
• Award letters will not be sent until verification is complete.
• Estimated financial aid awards will be removed if verification is not completed within specified deadlines. Any deferred tuition and fees become due immediately.

Please Keep in Mind:

Corrections will be made for information that is not accurate which could affect your ability to receive aid. You will be notified of any adjustments that need to be made. Most corrections that need to be made can be done electronically by our office. If they cannot be made electronically you will need to send your Student Aid Report (SAR) to the Federal Processor for corrections.

If the corrections are done electronically, the student will be sent an updated Student Aid Report (SAR) from the Federal Processor.

Verification must be completed no later than 90 days past the last day of your enrollment for the each academic year, or by August 31 following each academic year, whichever comes first.

Corrections involving the Federal Processor must be made prior to mid-August.

Verification documentation in support of Federal Stafford Loans must be provided at least 45 days prior to the end of the semester.

If the information is not submitted with enough processing time before the deadline, it maybe too late for us to complete processing of your application.