If you were unable to attend NASFAA's Fall 2006 Training Series – Verification, you can now purchase the reference material distributed at the workshops. A limited supply of the materials is available.
Verification of data used to calculate a student's expected family contribution (EFC) is a function that is basic to every financial aid office. It applies to all the major Title IV programs and generates questions throughout the year. Financial aid professionals often have difficulty distinguishing between "verification" and "conflicting information." In addition, the Higher Education Reconciliation Act (HERA) changes several need analysis formula data elements.
The Materials:
Distinguish between verification and resolution of conflicting information.
Identify the rules and regulations associated with verification and resolution of conflicting information.
Identify the impact of the changes to need analysis mandated by HERA.
Examine institutional policies and procedures required by regulation as well as those necessary to conduct a compliant verification process.
Review verification codes with emphasis on the recalculation option, including a brief review of the upcoming changes to the EFC formula.
Present strategies to achieve compliance with verification requirements.
Cost:
The price for a set of materials is $70 for members and $140 for non-members.
What You Will Receive:
You will receive a Participant's Guide containing information that includes resource information and a paper copy of the PowerPoint slides.
Information Included:
Section I—Introduction
Regulatory Citations – Verification
Regulatory Citations - Conflicting Information
Section II—EFC Formula and HERA Changes Principles of Need Analysis
Higher Education Reconciliation Act of 2005 (HERA): Changes Effective 7/1/06
Higher Education Reconciliation Act of 2005 (HERA): Changes Effective 7/1/07
Income Verification with Internal Revenue Service
Overview of 2006-07 Need Analysis Formulas
Section III—Overview of Verification Requirements and Policies
Interim Disbursement Eligibility Decision Tree
Late Disbursement Decision Tree
Post-Withdrawal Disbursement Eligibility Tree
Required vs. Optional Verification Policies
Sample Verification Policies and Procedures Case Study
Section IV—Overview of Conflicting Information Rules and Required Policies
What is Conflicting Information?
ED Inspector General's Hotline: Special Complaint Form
Adjustment Examples
Crossover Years: Projected Calendar Year Income vs. Actual Income
Case Study
Section V—Documentation
General Rules Regarding Whether an Individual Must File a Federal Tax Return
Federally-Required Verification Data Elements with School Discretion
Optional Verification Data Elements
Using Federal Tax Returns in Need Analysis
Brief Description of Common 2005 Federal Tax Forms
Brief Description of Common 2005 Federal Tax Schedules
Guide to Implied Assets and Income: 2006-07 Award Year
Forms Comparison Chart: 2006-07
Highlights of the Form W-2
Section VII—Resolution of Verification Findings
Sec. 479A. [20 U.S.C. 1087tt] Discretion of Student Financial Aid Administrators
Part 690—Federal Pell Grant Program
Calculating the Net Value
Verification Status Codes
The Higher Education Relief Opportunities for Students (HEROES) Act of 2003, Public Law 108-76
Hurricane Waivers and Modifications to Federal Student Financial Aid Program Requirements
Verification Decision Tree—Quality Assurance Program
Verification Decision Tree—Applicant Selected By Central Processing System (Verification Prior To Award and Disbursement)
Verification Decision Tree—Applicant Selected By Central Processing System (Verification After Award and Disbursement)
Verification Decision Tree—Applicant Selected By the School (Verification Prior To Award and Disbursement)
Verification Decision Tree—Applicant Selected By the School (Verification After Award and Disbursement)
Section VIII—Verification Policies and Procedures
Verification Policies and Procedures
Policies and Procedures Regulatory Resources Guide
NASFAA Policies and Procedures Manual Template Sample
NASFAA Policies and Procedures Manual Template Demonstration
Section IX—Facilitated Discussion: ACG/SMART Grant Programs
Eligibility Criteria
ACG/SMART Grant Resources
Notes for 2006-07 Implementation
To Order:
To order the Fall Training materials, print out the NASFAA Publications Order Form at www.nasfaa.org/Publications/PubForm.html and return it to NASFAA with your payment.
NASFAA's Value and Value Plus Members will receive directions on how to download an electronic copy of the Fall Training materials. The ability to download and share copies with others at your institutions is one of the many benefits of the Value and Value Plus memberships.
Posted 12/12/06 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web Site questions or comments to Web@NASFAA.org.
