Belmont College

2014-2015 Verification Process and Policy

There are many changes to the verification process for the 2014-2015 award year and it is important for students and parents to understand the changes by reviewing this process and policy. In accordance with Federal Financial aid regulations, the data entered on the 2014 – 2015 Free Application for Federal Student Aid (FAFSA) by many students must be verified for accuracy. The U.S. Department of Education selects approximately one third of all FAFSA filers to undergo this process. The Office of Financial Aid at Belmont also has authority to select applicants, and require them to complete the verification process. If you are selected for verification, your eligibility for federal financial assistance for the 2014 – 2015 award year cannot be determined until this process has been completed. This means we will not award or disburse you any federal aid until you have completed the verification process and turned in all missing documents.

Checking Your Status

If you are selected for Verification or if you want to check on the status of your Financial Aid award and see if you have any missing documents you can log into your MyFAO site to see what (if any) forms are missing, and to accept or decline your financial aid award.
Go to www.belmontcollege.edu

Select MyFAO

Log in using your Student Id# and Pin. If you are new to the site follow the instructions to create a pin using your student id#. The pin for MyFAO is not the same as your federal pin you use to sign the FAFSA.

If you are selected for verification you must complete a Verification worksheet. There are two verification worksheets, a Dependent worksheet or an Independent worksheet. Which one you need to complete is based on your FAFSA status and we will ask you for one or the other based on your Dependency Status from the FAFSA. To obtain the verification worksheet go to our website, www.belmontcollege.edu , your MyFAO site or at the financial aid office.

Photocopies of federal tax returns are no longer acceptable (i.e. 1040, 1040A, 1040EZ), per Dept. of Education regulations. Tax return data is only permitted to be submitted for verification via either the IRS Data Retrieval Tool or a 2013 IRS Tax Return Transcript & *W‐2(s). This means: if you are selected for verification you will need to obtain an IRS Transcript for you, your spouse (if filed separate) and your parents (if you are a dependent student), unless: you used the IRS Data Retrieval Tool and did not make any changes when importing in the data.

The IRS Data Retrieval Tool can be used during the initial completion of the FAFSA or when making corrections. The IRS Tax Return Transcript can be obtained via IRS Form 4506‐T, calling the IRS at 1‐800‐908‐9946, or through the website www.irs.gov. To obtain an IRS tax return transcript online, go to www.IRS.gov and click on the “Get Transcript of Your Tax Records” link under Tools. Select “Get Transcript Online.” and follow the prompts to Create an Account. Make sure to request the “IRS tax return transcript” and not the “IRS tax account transcript.” You will need your Social Security Number, date of birth, and the address on file with the IRS (normally this will be the address used when the 2013 IRS tax return was filed). It takes up to two weeks for IRS income information to be available for electronic IRS tax return filers, and up to eight weeks for paper IRS tax return filers. We will not be able to complete your verification or award you aid until we receive your Tax Return Transcript for this option. If you are required to obtain an IRS transcript for you or your parent you will be notified in a missing information letter and on your MYFAO site under documents that are not received.

If you completed your FAFSA and did not use the IRS data retrieval tool you can go back into your FAFSA and use the IRS data retrieval tool which will eliminate the need for you to request the IRS tax transcript as long as you do not make any changes to the information when you bring it in. You must have filed your federal taxes and wait 2 weeks if filed electronically or 6-8 weeks if mailed in paper taxes.

If you are unable to use the IRS data retrieval tool or need to make corrections and are selected for verification you must get an IRS Tax Return Transcript.

*If you or your parent did not file a federal tax return for 2013, you must provide copies of all W2’s and provide all income of how you supported yourself and/or family on the verification worksheet.

Required Documents:

If you’re a Dependent student:

  1. 2014 – 2015 Dependent Verification Worksheet, signed and dated by you and one parent.
  2. Your parent(s) 2013 IRS Tax Return Transcript or use of FAFSA IRS Data Retrieval Tool.
    • If your parent(s) is not required to file a 2013 federal tax return, we require photocopies of their 2013 W‐2(s) and all other income statement(s) listed on the verification worksheet.
  3. Your (the student) 2013 IRS Tax Return Transcript or use of FAFSA IRS Data Retrieval Tool.
    • If you are not required to file a 2013 federal tax return, we require photocopies of your 2013 W‐2(s) listed on the verification worksheet, if applicable.
  4. Written documentation of receipt of benefits through Food Stamps/SNAP (Supplemental Nutrition Assistance Program) from the issuing agency, if applicable for 2013.
  5. Documentation of any child support payments made by a parent(s) in 2013, if applicable. Must include:
    • Total amount of child support paid for all children in 2013.
    • Name(s) of child/children for who you pay child support.
    • Name of person who is receiving the child support payments.

If you’re an Independent student:

  1. 2014 – 2015 Independent Verification Worksheet, signed and dated by you.
  2. You and your spouse’s (if applicable) 2013 IRS Tax Return Transcript or use of FAFSA IRS Data Retrieval Tool.
    • If you and your spouse filed as “married filing separately,” “we need both your and your spouse’s tax return transcripts).
    • If you and your spouse (if applicable) are not required to file a 2013 federal tax return, we require photocopies of yours and your spouse’s 2013 W‐2(s) and all other income statement(s) listed on the verification worksheet.
  3. Written documentation of receipt of benefits through Food Stamps/SNAP (Supplemental Nutrition Assistance Program) from the issuing agency, if applicable for 2013.
  4. Documentation of any child support payments made by you (or your spouse) in 2013, if applicable. Must include:
    • Total amount of child support paid for all children in 2013.
    • Name(s) of child/children for who you pay child support.
    • Name of person who is receiving the child support payments.

Once all required documents have been received, the Financial Aid Office will complete the 2014 – 2015 verification process as quickly as possible, and make any necessary data changes with Federal Student Aid. Any corrections made to your FAFSA will result in you receiving a new Student Aid Report (SAR), usually by email.

Documentation or written clarification for other FAFSA data elements not normally required may sometimes be needed to complete the verification process. If this occurs, you’ll be notified via mail of the additional items to be verified and at your MYFAO site.

Once the verification process is complete then you will be awarded. An award notification will be sent via mail as a Financial Aid Award Letter and available on your MYFAO site to accept or decline.

Important Deadlines: If your 2014 – 2015 FAFSA is selected to undergo the verification process, no federal aid may be awarded until verification is complete. Please be prepared to make other payment arrangements with the Business Office such as the ‘3-pay agreement’ if your verification has not been completed by the date listed below for each term. Please make every effort to complete the verification as soon as possible to ensure there is not a delay in the delivery of your financial aid. If your verification is not complete you will not be awarded aid or be able to charge your books at the bookstore.

Dates

  Summer    Fall    Spring
Term begins June 18, 2014 August 27, 2014 January 17, 2015
Term balance due May 28, 2014 August 13, 2014 January 3, 2015
Verification forms due before this date to have aid complete before term due date May 1, 2014 July 30, 2014 December 21, 2014
Verification forms must be turned in by this day to receive any aid August 13, 2014 December 14, 2014 May 10, 2015

Special Situation

  • If selected for verification and you and/or your parents filed an amendment to their federal income tax you must provide both an IRS Tax Return Transcript and an IRS Tax Account Transcript, or in lieu of these two items, an IRS Record of Account which includes the required information from both the IRS Tax Return Transcript and the IRS Tax Account Transcript. The Record of Account can only be requested using a paper IRS Form 4506-T and could take up to 30 days for IRS to process.
  • Individuals who file a foreign income tax return must provide a signed copy of the foreign tax return and an English translation (if the return is not in English).
  • Seperated? If you or your parents are separated you must provide legal documentation showing you are legally separated. For more information see a financial aid representative.

Go to class.

  • No matter what the situation, if you are enrolled GO TO CLASS. Attendance is the key to success.

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Financial Aid Office Hours

Monday - Friday
8:00 a.m. - 4:30 p.m.
Saturday - Sunday
Closed

Contact Information

Financial Aid Office
Belmont College
120 Fox-Shannon Place
St. Clairsville, Ohio 43950

email: financialaid@belmontcollege.edu
Phone: 740-695-8510
Fax: 740-699-3033