Publication Date: April 20, 2004
Author: General Manager, FSA Application, School Eligibility and Delivery Services
Summary: E-mails to 2004-05 Financial Aid Applicants Asking Them to Update Estimated Income Information
Posted on 04-20-2004
TO: All Destination PointsFROM: General Manager, FSA Application, School Eligibility and Delivery Services
SUBJECT: E-mails to 2004-05 Financial Aid Applicants Asking Them to Update Estimated Income Information
Dear Partner,
One of Federal Student Aid's (FSA) highest priorities is to ensure that financial aid applicants and their families report accurate information on the Free Application for Federal Student Aid (FAFSA). As our partners in the student aid delivery process, we thank you for the hard work you do to make sure that applicant data is as accurate as possible and for assisting us with the serious task of maintaining the integrity of the federal student aid programs.
As you are aware, many applicants provide estimated income information on their FAFSAs. In anticipation of legislation that would permit FSA to conduct an income verification match with the Internal Revenue Service (IRS), we are putting into place a comprehensive system for notifying financial aid applicants that they need to correct their FAFSA income information. Our goal is to get students and their families to correct FAFSA data right after they complete their tax returns in order to prevent unnecessary delays in the processing and disbursement of federal student aid.
Within the next few days, FSA will begin sending e-mail messages to 2004-05 FAFSA filers who provided estimated income information on their application. We will be asking these applicants to provide updated income information now that they have probably completed their 2003 tax returns.
An e-mail message will be sent to 2004-05 applicants for whom we have an e-mail address and who indicated, or whose parent(s) indicated, that they completed the FAFSA using estimated income information. If the applicant is dependent, and we have an e-mail address for the applicant's parent, we will send an e-mail to the parent as well.
There will be three versions of the e-mail: one for independent students, one for dependent students, and one for the parents of dependent students. Please refer to the attachments below for the specific e-mail text.
The e-mails will ask students and parents to compare FAFSA information with 2003 income tax return information and make corrections if necessary. The e-mails will contain a link to Corrections on the Web so that applicants can easily correct their Student Aid Report (SAR) information online.
We understand that these new corrections will generate additional Institutional Student Information Records (ISIR); however, our goal is to encourage applicants to make the changes so that aid is awarded based on accurate information. Also, remember that schools are not required to review subsequent ISIRs for applicants unless the Expected Family Contribution (EFC) or the SAR 'C' Flag results have changed.
We extend our appreciation to you in advance for your willingness to assist us in this effort to ensure that the integrity of the federal aid programs is preserved, and that students and their families receive the funds for which they are eligible.