Supplying Information for Financial Aid Just Got a Little Easier

"For families still struggling through the trying chore of applying for federal college aid for the coming school year, here’s some good news: It just got easier to supply the extra information the government sometimes asks for," The Columbus Dispatch reports.

"...But the IRS took the tool offline in March because of concerns about security. Immediately after that, families required to verify their income were told to submit an IRS document called a tax transcript — a form that most people haven’t heard of, and which requires a separate application and weeks to obtain. “For families just doing the FAFSA now, it’s a lot more work,” Blackburn-Smith said.

A recent survey by the National Association of Student Financial Aid Administrators, asking members how the loss of the Data Retrieval Tool is affecting them, found that problems with income verification are by far the biggest concern. Institutions typically are told by the federal government to verify information in certain cases, including when a family’s income is low enough that it won’t be asked to pay anything toward the cost of college."

NASFAA's "Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

 

Publication Date: 5/3/2017

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