The Student Aid applicant output document which results from the processing of the FAFSA (the Student Aid Report [SAR] or Institutional Student Information Record [ISIR]) is received by the Financial Aid Office. If an asterisk is noted to the right of the EFC, this student has been selected for verification.
Yeshiva Divrei Chaim verifies students based on the following criteria:
1. All V4 and V5 CPS – selected students are required to be verified.
2. Unless conflicting information is found, verification is completed only on CPS-selected applicants.
3. Resolution of conflicting information must occur before additional Federal funds may be disbursed.
4. We reserve the right to select any student for verification, regardless of all of the above.
Documentation of certain data elements provided on the FAFSA must then be provided to establish the accuracy of the FAFSA, and, ultimately, the SAR/ISIR, in order to ensure the validity of the EFC, the basis of all Federal Student Aid.
Basic documentation would be the appropriate tax forms for the base year (two years prior to application), or other income documentation for non-tax filers. Additionally, the appropriate Verification Worksheet must be completed and signed.
Dependent students require their own and one parent’s signature. Independent students require only their own signature. This document will serve to verify the household size and number in college, and serves as a control document throughout the verification process.
The required documentation which originates with the institution (i.e. the Verification Worksheet) will be provided by Mr. Josef Deutsch, the Financial Aid Director, within one week of the student’s ISIR being selected for verification. At that time, all required documents which originate with the student, will be specified, in writing, to the student. The deadline for submission of these documents is the deadline for submission of corrections to FAFSA data published annually in the Federal Register. These documents include, at a minimum, Federal tax return transcripts for returns filed by the student and the spouse, for independent married students, and the student and the student’s parents for dependent students.
However, the Financial Aid office may require additional supporting documents such as W-2 forms if warranted. Authority to require all documentation deemed necessary is granted the institution by 34CFR, subpart E, 668.53. The applicant must submit all requested documentation in a timely manner. That is, all documents must be submitted sufficiently in advance of the deadline for completion of verification, to allow adequate time for proper completion of this process, as well as reprocessing of the application, if necessary.
The Financial Aid Office’s verification specialist reviews all these documents, and compares them to the information on the output document. If conflicting information is found, even if not a required verification item, the conflict must be resolved and/or corrected, in order for the student to continue to receive Federal Aid.
A vital component of the function of the Financial Aid Office is to assist students and their families in every way possible to enable them to fully comply with all eligibility requirements. Satisfactory completion of verification is one of the most crucial of these.
Therefore, it is the policy of this office to provide professional guidance to all parties, enabling them to cooperate fully, and in a timely manner.
The deadline for completion of this process, which includes submission of any necessary corrections to the Central Processing System, as well as receipt of the corrected, reprocessed ISIR, is September 16, 2023 or 120 days following the last date of attendance, whichever is earlier. If this deadline is not met, the student will lose eligibility for Federal Student Aid. Any funds already disbursed or credited to the student’s account will be invalidated and the student will be required to repay all disbursed amounts within 60 days of the date of notification, if disbursed directly to the student. If necessary, legal action will be taken to recover these funds, including, but not limited to, referring overpayment cases to the Department of Education.
Following completion of verification, the student will receive a “Verification Result” letter.
Should reprocessing be necessary, due to errors discovered through this process, a “Reprocessed Letter” will be generated, detailing all changes which will be submitted to the Central Processor on behalf of the student, as well as any changes which may result in the student’s eligibility for funds.
Note: At any time during the processing and reviewing of student information, should conflicting documentation be discovered, it must be brought to the attention of all concerned parties and resolved. Until that time, all further Federal Aid must be withheld.