Financial Aid Verification and IRS Data Retrieval Processes
The verification process at STU is a review process in which the Office of Financial Aid determines the accuracy of various data elements reported by the student/parent on the student’s Free Application for Federal Student Aid (FAFSA). The U.S. Department of Education selects approximately 30 percent of all aid applicants for verification. STU can also select files which seem to have questionable responses or conflicting information. Through the verification process students and parents will be required to submit documentation to verify information on the financial aid application. The verification process ensures that eligible students receive the correct financial aid they are entitled to receive.
Normally STU students should expect to receive notification that they have been selected for verification within 14 business days after the Office of Financial Aid receives the student’s FAFSA results from the federal processors through their ISIR (Institutional Student Information Record). The Financial Aid Office informs those students who have been selected for verification via e-mail, letter, and they can also review their status through their application tracking in the MyBobcat student portal. The tracking notices for missing documents will direct the student to submit required verification documents to their Financial Aid Office online.
Since academic aid years overlap calendar years, it is important to review which year specific forms will be required. All documents must be completed in their entirety, signed and submitted electronically or physically at the Student Success Center within 30 days of notification Verification Forms can be found here
Failure to submit requested verification documents complete and on time could cause delays in your awarding, loss or cancellation of some or all of your financial aid, and or could cause you to lose a term or be forced to pay for courses which you become fee liable for, so DON’T DELAY!
IRS Data Retrieval
STU encourages all students to use the IRS data retrieval tool when completing their FAFSA applications online. The IRS Data Retrieval Tool allows electronic filers to pull specific tax return data directly from the Internal Revenue Service (IRS). It saves time and increases the accuracy of your FAFSA information, while possibly minimizing the amount of documents you would need to submit to complete the verification process. If you would like more information on the IRS Data retrieval tool click here