Financial Aid Verification

Verification is a process where the information on a student's FAFSA is compared against supporting documentation for accuracy. This is to ensure that a student's federal aid eligibility is calculated accurately.

The Department of Education or the Financial Aid Office may, at any time, select your application for verification based upon the information you have provided. Participation in the verification process is not optional. The documents required will vary based on each student. Your myMadisonCollege To Do List will detail the specific items you must verify, as well as provide links to any required forms. You will not receive financial aid until all documentation is received and reviewed. Once documentation is submitted, the Madison College Financial Aid Office will compare information from your FAFSA with the information provided.

  • Coming Soon! Self-service Financial Aid Verification

    Coming in March 2021, the Financial Aid Office is excited to introduce a new easy, mobile, personalized process that makes everything about navigating financial aid easier.

    Providing the best student experience is important to us so we are proud to say that soon, financial aid students selected for verification can:

    • Complete financial aid forms on their phone, tablet, or computer.
    • Securely upload documents from any device.
    • E-sign documents—both students and their parents!
    • Manage financial aid tasks online
    • Receive automated reminders about outstanding tasks and next steps

    We’re excited to offer self-service, mobile financial aid!

  • Verification Reasons

    The Department of Education has criteria to select a student for verification that is reviewed and adjusted each academic year. Based on this criterion, there are several reasons why you may be selected for verification. Some of the most common reasons are:

    • The data on your submitted FAFSA was estimated, incomplete, or is conflicting; or
    • The IRS Data Retrieval Tool was used, but you then changed some or all of the data.
  • Items Subject to Verification and C-code Resolution

    You and/or your parents may be asked to submit documentation regarding this information provided on the FAFSA. These could include, but are not limited to, one or more of the following:

    • Adjusted gross income (AGI)
    • U.S. income tax paid
    • Education credits
    • Untaxed IRA distributions
    • Untaxed pensions
    • IRA deductions and payments
    • Tax-exempt interest
    • Income earned from work
    • Household size
    • Number in college
    • High school completion status
    • Identity/statement of educational purpose
    • Selective Service Registration
    • Citizenship
    • Documents to resolve any inconsistent or conflicting information (like Legal Name, Date of Birth, Social Security Number, etc)
  • Notification of Documents Needed

    Typically, you can expect to receive an email notification that you have been selected for verification within 10 – 14 days after the Financial Aid Office has received your FAFSA results from the federal processor. (Note: Madison College does not begin receiving FAFSA results until late December/early January for the upcoming academic year. Students must also be formally admitted into an eligible program for the financial aid process to begin).

    If you receive a “Missing Information for Financial Aid” or an “Additional Information Required for Financial Aid” notification in your student email you will need to follow the steps outlined in that communication to complete your application, including submitting all required information.

  • Deadlines, Processing Time & Corrections

    Deadlines

    In order to receive financial aid, you must submit all the required documents by:

    • December 1 for the Fall semester
    • May 1 for the Spring semester
    • August 1 for the Summer semester


    Note: Documents submitted after the semester deadline may be considered for financial aid eligibility based on criteria published within the Federal Register or within 120 days after the last day of enrollment, whichever is earlier.

    Failure to provide accurate information may significantly delay the processing, awarding, and potential disbursement of financial aid funds. 
     

    Processing Time & Corrections

    The Financial Aid Office processes information in the order it is received. Allow 2-3 weeks processing time from when documents are submitted. Processing time may increase during peak periods (April through August) or if additional information is required.

    • If electronic corrections are required to be sent to the Federal Processor, add an additional 1-2 weeks of processing time.
    • After review and corrections are back from Federal Processor (if required), the Financial Aid Office will contact you by email regarding your financial aid offer letter and next steps.