This document provides an overview of the key federal regulations regarding the verification process for financial aid applications. It outlines the main topics covered in sections 668.51 through 668.61 of Title 34 of the Code of Federal Regulations, including policies and procedures for verification, selection of applications, acceptable documentation, consequences of changes to information, and recovery of overpayments. The overview lists the specific regulatory citations and briefly summarizes the topic covered in each citation in 2 sentences or less.
This document provides an overview of the key federal regulations regarding the verification process for financial aid applications. It outlines the main topics covered in sections 668.51 through 668.61 of Title 34 of the Code of Federal Regulations, including policies and procedures for verification, selection of applications, acceptable documentation, consequences of changes to information, and recovery of overpayments. The overview lists the specific regulatory citations and briefly summarizes the topic covered in each citation in 2 sentences or less.
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This document provides an overview of the key federal regulations regarding the verification process for financial aid applications. It outlines the main topics covered in sections 668.51 through 668.61 of Title 34 of the Code of Federal Regulations, including policies and procedures for verification, selection of applications, acceptable documentation, consequences of changes to information, and recovery of overpayments. The overview lists the specific regulatory citations and briefly summarizes the topic covered in each citation in 2 sentences or less.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOC, PDF, TXT or read online from Scribd
668.51 General 668.52 Definitions 668.53 Policies and Procedures
668.53 (a)(1) Time period an institution allows for submission of
required documentation.
668.53(a)(2) Consequences of failure to meet deadline for submission
of documentation.
668.53(a)(3) Method institution uses to notify applicant of verification
results. 668.53(a)(4) Procedures institution requires to make corrections. 668.53(b)(1) Clear explanation of required documentation. 668.53(b)(2) Applicant’s responsibilities (deadlines, etc.) 668.54 Selection of applications for verification.
668.54(a) Identification and processing of selected applicants.
668.54(a)(5) Discretionary verification of non-required items.
668.54 (a)(2) Percentage to be verified.
668.54(b) Exclusions from verification.
668.54(b)(2)(viii) Transfer students and re-verifying
668.55 Updating Information
668.55(a)(3) & Dependency status
668.55(d)
668.55(b) Household Size & number in college for selected
applicants. 668.55 (2) Adjustments to avoid overaward.
668.56 Items to be verified.
668.56 Items to be verified.
02/10/2008 1 Verification Guide At a Glance
668.56(b),(c),(d),(e Discretionary verification of non-required items.
) 668.57 Acceptable Documentation
668.57(a) AGI, Income earned from work, U.S. Taxes paid
668.57(b) Number in Household
668.57(c) Number in College
668.57(d) Untaxed Income
668.58 Interim Disbursements
668.58 Interim Disbursements
668.58(c) Returning Stafford/Direct Loan proceeds to
lender if verification not complete in 45 days.
668.59 Consequences of a change in application
Information. 668.59(a) Federal Pell Grant 668.59(2) Tolerances 668.59(c) Campus-based and FFEL/Direct Loan Programs. 668.59(e) Referral to ED if discrepancies can’t be resolved.
668.60 Deadlines for submitting the documentation and the
consequences of failing to provide documentation.
668.60 Deadlines for submitting the documentation and the
consequences of failing to provide documentation.
668.60(b)(2) Applicant submits documentation after deadline.