Verification is the process of confirming the accuracy of student-reported data on financial aid applications. The Financial Aid Administrator (FAA) verifies those applicants identified by the Department of Education (DOE). In addition, the FAA may select a student for verification if there is a discrepancy or a condition that is unusual and warrants investigation. Students are notified of the results of verification by receipt of an award letter. Because the Financial Aid Office (FAO) is liable for disbursements made prior to verification, the FAO policy does not allow interim disbursements. Students must complete the verification process before aid is awarded or disbursed.
Title IV Funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, the student may no longer be eligible for the full amount of the Title IV disbursement. The FAO is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations. The calculation must be performed even if the student has completed 60% of the payment period, to show that the school determined that the student withdrew. After calculation, funds must be returned to the federal government within 45 days. For further details on Verification and Return of Title IV Funds see the student handbook.