Verification
“I’m selected for verification? But I didn’t file a tax return.” “Okay, then submit this document to us”
What is an IRS Verification of Nonfiling letter?
Its purpose is to plot a course to allow the student to meet SAP standards by a specific point in time.
What is an academic plan?
FERPA defines an eligible student as at least this age, or is attending an institution of higher education.
What is 18?
A graduate program is TEACH Grant eligible only if the program leads to this credential.
What is a master’s degree?
This, voluntarily provided by a student, allows an institution to apply Title IV aid to educationally related expenses beyond allowable charges.
What is written authorization?
No longer in place, a school was once able to waive verification after this percentage of its financial aid applicants were selected.
What is 30%?
These measurements must both be performed in order for a SAP evaluation to occur.
What are qualitative and quantitative measures?
Unless it falls on a weekend, an educational program for the U.S. Constitution and U.S. citizens is held on this date.
What is September 17?
An educational format that uses technology to bridge time and distance to allow regular and substantive interaction between instructor and student.
What is distance education?
The entity to which schools refer suspected fraudulent activity.
What is the Office of the Inspector General (OIG)?
A student need only verify this if eligible only for unsubsidized aid and is selected in Group V5.
What is identify and Statement of Educational Purpose?
Lasting more than two minutes, a school can give a student one of these if it measures SAP at the end of every payment period.
What is a financial aid warning?
A tool used to disclose cost of attendance minus average yearly grant and scholarships.
What is the Net Price Calculator?
The entity that designates which academic programs are TEACH-Grant eligible.
What is the institution?
For return of Title IV funds purposes, a school is not required to report a grant overpayment to a student if it is less than this amount.
What is $50?
This IRS request flag confirms all IRS DRT elements on the ISIR are considered verified
What is IRS Request Flag 02?
This measure ensures a student is on track to complete the academic program within the maximum timeframe
What is pace?
Distributed yearly, this contains a list and brief description of consumer information items.
What is the Annual Notice to Enrolled Students?
A program must be offered in this format in order to offer Title IV aid to students enrolled in repeated coursework.
What is a term-based program?
A student earns 100% of aid eligibility by completing more than this percent of the scheduled payment period.
What is 60%?
The maximum number of days to submit verification documents to the school after the student is no longer enrolled.
What are 120 days?
The maximum length of financial aid probation
What is one payment period?
Includes buildings and property on campus, institution-owned noncampus buildings, and public property immediately adjacent to campus.
What is Clergy Geography?
An eligible Title IV program offered to confined or incarcerated individuals.
What is a Prison Education Program (PEP)?
The maximum income to qualify for the simplified needs test is increased to this number.
What is $60,000?