Verification is a process by which the financial aid office confirms your eligibility by verifying certain data elements that are key to assessing your financial need.
The federal processor or the school may select items to be verified. Most verifications can be completed using the Verification Worksheet and a copy of the pertinent IRS tax transcripts.
Tax transcripts are required for all tax filers who provide information on the Verification Worksheet unless the IRS Tax Retrieval system was used to complete or correct the FAFSA; the taxpayer may request the transcript from the Internal Revenue Service online at www.irs.gov. the tax transcript can be requested online at the IRS website or from the local IRS office. Verification review by financial aid staff may take 2-6 weeks or longer.
|Verification Type||Items Verified|
|V1 Standard Verification||Household size, Number in college, SNAP (food stamps), Child support paid and untaxed income on IRS documents. For tax filers, AGI and taxes paid. For non-tax filers, income from work.|
|V2 Reserved for future use|
|V3 Reserved for future use|
|V4 Custom||High school completion status, Identity/Statement of educational purpose, SNAP –food stamps, child support paid.|
|V5 Aggregate||All items listed above.|
|V6 Household Resources||Household size, Number in college, SNAP (food stamps), Child support paid and untaxed income on and off of IRS documents. For tax filers, AGI and taxes paid. For non-tax filers, income from work. W-2s required for all wages.|
**Verification forms may be downloaded from the YVC Financial Aid Office Forms. **
In addition to verification, the Department of Education has selected a number of aid applicants for review of the student’s prior enrollment pattern. In those cases, the school must determine if the student is accepting financial aid for the pursuit of educational or vocational goals. If the student appears to be accepting aid without making progress toward an educational/vocational objective, the school is responsible for denying further aid to the student.
Financial Aid Documents
Eligible students who submit all required documents in early spring have access to the most funding and generally know their aid eligibility by the Fall Quarter early registration tuition due date. All documentation must be submitted by the last day of attendance during the award year or aid will not be processed. However, we recommend that all materials be submitted at least one month prior to your last day of attendance.
If you qualify for need-based aid, the amount and types of financial aid you may receive depends on a number of factors, including your eligibility, number of other eligible students, and amount of funding available. Awards vary each year. Typically, we cannot meet the full financial need of our students and a student may have to reduce his or her expenses or contribute beyond the expected family contribution to pay for college expenses.