Verification Requirements for Federal Financial Aid Programs

Approximately 30 percent of all applications are picked for a process called verification by the Department of Education. If your application is picked for verification (which will be noted on your "Student Aid Report" or "SAR") , you and your parents ( if dependent by federal guidelines) will need to submit complete (all schedules and W-2 forms), signed copies of your 2010 federal tax returns (2011-2012 year). We will also send you the federal verification worksheet.

Starting with the 2012-2013 academic year,  schools will have to verify all applications that are  flagged for verification by the Department of Education. 

  • Learn how utilizing the"IRS Data Retrieval Tool" will simplify and expedite the verification process.
  • There are only two differences between the data elements schools must verify for 2011-12 and for 2012-13. These are
    • Verification of the receipt of benefits under the Food Stamps - Supplemental Nutrition Program (SNAP) if the independent student or dependent student's parent reported the receipt of these benefits on the FAFSA by a member of the household. Verification of the receipt of SNAP benefits is used to determine whether the student is eligible for an Automatic Zero EFC or the Simplified Needs Test.
    • Education credits for tax filers.

Counselors must also resolve any conflicting data before we can finalize a student's eligibility for federal financial aid funds. Because incoming freshmen have early application deadlines, their awards are tentative until all required documentation has been submitted and reviewed.

All documents should be returned directly to the Office of Scholarships and Financial Aid before May 1 for incoming undergraduates and before August 1 for returning students. Aid awards may need to be adjusted if there are differences between the data reported on the FAFSA and that reported on your tax returns and verification addendum.

The Department of Education outlines the minimum policies and procedures that schools should use each year in the Application and Verification Guide

Federal Verification Worksheets

Students picked for verification must complete and return a federal verification worksheet. For the 2012 spring and summer semesters, please attach complete (all schedules and W-2 forms) of student and parent (if dependent by federal guidelines) federal tax returns to the form. Please make sure both you and your parent have signed the bottom of each return.

The verification process will change for the 2012-2013 academic year.

Institutional Forms

Loyola University MAY require students to complete supplement forms to further clarify the information on a student's FAFSA 

Internal Revenue Service ("IRS" ) Publications and Resources

See Federal Tax Issues for more information.

Need Help With Your Tax Forms?

Loyola University New Orleans College of Law annually offers the Volunteer Income Tax Assistance Program  to provide tax preparation assistance for people with low to moderate incomes.

 Deadlines:

Except for a few specific situations, all federal aid must be processed and credited to a student's account before the last day of the semester. We would hope families would submit any requested information within2 weeks of the initial request. All information should be submitted no later than 30 days before the last day of class each semester in order to insure sufficient time for processing any pending student loan application.

Counselors will review your information and submit any required corrections directly to the federal processors. Counselors will notify students of any changes in their aid eligibility that result from any corrections made.

Updated February 6, 2012