V5 Aggregate Financial Aid 23 Verification Worksheet for Dependent Form
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People also ask
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What happens if I don't do FAFSA verification?
If a student who is selected for verification does not complete the verification process, then any federal and/or need-based aid (Pell grant, SEOG, Work-Study, Federal Direct loans, certain Scholarships, and institutional aid) will NOT be awarded or disbursed.
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What is V5 verification for FAFSA?
Aggregate Verification Group (V5): Students must verify identity/statement of educational purpose in addition to the items in the Standard Verification Group.
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Why was I selected for financial aid verification?
Verification is the process your school uses to confirm that the data reported on your FAFSA form is accurate. If you're selected for verification, your school will request additional documentation that supports the information you reported. Don't assume you're being accused of doing anything wrong.
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What are the verification groups for FAFSA?
Students who are selected for verification by the Department will be placed in one of three verification groups (V1, V4, or V5) to determine which FAFSA information must be verified. Groups V2, V3, and V6 are reserved for future use by the Department.
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What is a verification worksheet dependent?
The Verification Worksheet - Dependent form is a form that is requested of a dependent student selected for FAFSA Verification. The form requires information from both parents and students to verify some of the information provided on the student's Free Application for Federal Student Aid (FAFSA).
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What does it mean if my FAFSA is selected for verification?
It's important to remember that being selected for verification doesn't mean that you did anything wrong! Verification is a step toward ensuring you're reporting the most accurate information on your FAFSA to receive the most financial aid possible.
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What is V5 in financial aid?
Students must verify identity/statement of educational purpose (SEP). V5—Aggregate Verification Group. Students must verify identity/SEP in addition to the items in the Standard Verification Group (V1). Groups V2, V3, and V6 are reserved for future use by the Department.
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How does FAFSA verify parents' income?
During verification, the college financial aid administrator will ask the applicant to supply copies of documentation, such as income tax returns, W-2 statements and 1099 forms, to verify the data that was submitted on the Free Application for Federal Student Aid (FAFSA).
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