The Department of Education randomly selects approximately one third of all FAFSA submissions for verification, whereas those selected must provide documentation verifying the information reported on their Free Application for Federal Student Aid form (FAFSA) to their financial aid office. The Federal Processor will notify the student by a statement on their Student Aid Report (SAR), and the Office of Scholarships and Financial Aid.
This is a mandatory process that must be completed in its entirety to allow SVSU to generate a student’s financial aid award letter. All correspondence will be sent to the student’s SVSU email account. You may view your Student Financial Account Information in the mySVSU Portal to assist with preparation for the upcoming semester.
Once the Office of Scholarships and Financial Aid is notified that the student has been selected for verification, SVSU will notify the student and list the types of documentation the student will need to submit to the Financial Aid Office. Do not submit any documentation to the Federal Processor (FAFSA).
Along with the student information, parent(s) may also be asked to submit documentation to continue processing their student’s financial aid. Documentation may include, but is not limited to, verification worksheets, federal tax return transcripts, W2's, etc. Required documentation can be viewed in the mySVSU Portal under Financial Aid Missing Information.
Upon review of the submitted verification documentation, the Financial Aid staff may discover some inconsistencies, or conflicting information. As a result, additional information may be required. It is important to submit requested documentation immediately.
When Verification is completed you will receive an award letter notification through your SVSU email, prompting you to follow the link to the mySVSU Portal to review review your award letter and accept or reject any awards listed.
You may use the IRS Data Retrieval Tool that is part of FAFSA on the Web. Go to www.FAFSA.gov, log in to your FAFSA record, select “Make FAFSA Corrections”, and navigate to the Financial Information section of the form. Follow the instructions to determine if you, or your parents, are eligible to use the IRS Data Retrieval Tool to transfer IRS income tax information into your FAFSA. Our office will receive the updated FAFSA information within 4-5 business days.
To obtain an IRS tax return transcript, go to www.IRS.gov and click on the “Order a Return or Account Transcript” link, or call 1-800-908-9946. Make sure to request the “IRS tax return transcript”. If you have filed an amended tax return, you should also request the “IRS tax account transcript”. If you, or your parents, filed separate tax returns, you must submit tax return transcripts for both parties. You should receive the transcript(s) within 10-14 business days.
You will be offered the option to “Get Transcript ONLINE”. This option will allow you to view and print your transcript immediately.