Summary: Reminder: Notifications to 2005-06 Applicants Reminding Them to Update Estimated Income Information

Posted on 04-22-2005

This is a reminder that in early May 2005, we will send notifications to selected 2005-06 filers of the Free Application for Federal Student Aid (FAFSA) who indicated, or whose parent(s) indicated, that they completed the FAFSA using estimated income information. We will ask applicants and their parents to compare the income portion of their Student Aid Report (SAR) with information from their recently completed 2004 tax returns, and to make corrections as necessary.

Notifications will be sent to all 2005-06 FAFSA filers whose highest Central Processing System (CPS) transaction indicates that the student applicant's or parent's income data is based upon estimated income information and who meet all of the following criteria:

• The student's transaction has not been selected for verification;
• The student's Expected Family Contribution (EFC) is 6000 or less;
• The student is not a graduate student; and
• A school did not perform an FAA Adjustment (professional judgment) on the last transaction.

For additional information about the selection criteria, the format of the notifications, and the school's responsibility, please see Dear Colleague Letter GEN-05-04, posted on March 14, 2005 to the Information for Financial Aid Professionals (IFAP) Web site, located at http://ifap.ed.gov/dpcletters/GEN0504.html.

Again, we thank you for your support of this initiative. With your assistance we can maintain the integrity and public trust of our student aid programs by ensuring that accurate information is used when awarding federal student aid.