Q: What is Verification?
A: Verification is the audit process of reviewing and determining a student's eligibility for Title IV assistance. The verification process determines the accuracy of the information a student and/or parent reports on his/her FAFSA.
Q: Who determines whether or not a student is selected for verification?
A: The U.S. Department of Education determines whether or not a student is selected for the audit process called verification. Students are selected based on the information that is reported on the FAFSA application.
Q: How am I notified regarding the verification process?
A: Students are sent notifications from the U.S. Department of Education via their processed FAFSA application which is called a Student Aid Report (SAR). The information is displayed in the comment section. The Financial Aid Office notifies students via their Xavier E-MAIL to inform of the verification process selection. Students are informed to check their Banner web "Missing Documents" where the required documents are listed
Q: What correct Federal Income Tax Return is required?
A: The only acceptable document is the IRS TAX TRANSCRIPT which needs to be requested from the Internal Revenue Service (IRS).
Q: How to obtain an IRS Tax Transcript?
A: To obtain an IRS Tax Return Transcript, go to www.IRS.gov and click on the "Order a Return or Account Transcript" link, or call 1-800-908-9946.
Q: What is a verification worksheet (Dependent/Independent?)
A: This form is required to collect student information, student’s family information, income information for student and/or parent, as well as taxed and untaxed income
Q: How long does the verification process take?
A: The verification process is based in the timeframe in which a student submits his or her requested documents. However, during peak of processing, (June, July and August) the verification process may take from 1 to 2 weeks to verify a student's document.