Federal and Institutional Verification
The U.S. Department of Education selects certain FAFSA applications for a review process called Verification. This is a process that the Office of Financial Aid at NEOMED, along with the Department of Education, will use to ensure the accuracy of the data placed on the FAFSA.
NEOMED is not required to review all files selected for federal verification. However, NEOMED will review basic FAFSA information of all financial aid applicants for accuracy, and income data for all students applying for need-based financial aid.
Students will be informed of required documents needed during the application process.
The following are examples of items reviewed during the verification process:
- Degree seeking and academic level
- High School completion status
- Statement of educational purpose (for those federally selected and asked for by the Office of Financial Aid)
- Household size and number in college (for those federally selected and asked for by the Office of Financial Aid)
- Other items requested by the Department of Education. Students will be contacted if the Department requests us to verify additional/conflicting information.
NEOMED Need-Based Aid Applicants:
- Adjusted Gross Income
- Taxes Paid
- Educational Credits
- IRA deductions
- Tax deferred pensions
Students (and parents) are encouraged to use the IRS Data Retrieval Tool when completing the FAFSA. Use of the data retrieval tool will result in less paperwork being requested. Those who cannot or elect not to use the IRS Data Retrieval Tool will be required to submit an IRS Tax Return Transcript. Students (and parents) who are not required to file an income tax return will be required to submit a non-filing statement with any supporting W-2 and or 1099 forms, along with verification of non-filing status, obtained from the IRS.