What is Federal Verification?
Federal Verification is a process in which St Olaf College is required by the U.S. Department of Education to confirm the accuracy of certain data elements that are on the student’s FAFSA. Approximately 30% of all students who file a FAFSA are selected for this process.
Prospective students can receive an estimated aid award before completing the federal verification process. However, current students who are selected for federal verification will not receive their financial aid award until all of the verification documents have been submitted. Failure to submit all requested documentation will result in the forfeiture of your federal financial aid eligibility (grants, work study and loans). Also, any St Olaf institutional aid will not disburse to your student account.
|Data to be Verified:||Acceptable Documentation to Verify Data:|
|• Adjusted gross income/taxes paid
• Deductible IRA/SEP payments
• Tax-exempt interest income
• Untaxed portions of IRAs & Pensions (excludes rollovers)
|• Non-Tax Filers: Any 1099/W-2′s from the relavant calendar year
• Tax filers: Use of IRS data retrieval on FAFSA
• Parent and/or student IRS Tax Return Transcript (the IRS Tax Return Transcript is NOT a copy of your tax return)
|• Number of household/number in college
• Child support paid
• Supplemental Nutritional Assistance Program
|• 2014 – 15 St. Olaf Verification Worksheet – DEPENDENT
• 2014 – 15 St. Olaf Verification Worksheet – INDEPENDENT