Publication Date: March 9, 2006
Author: G. Kay Jacks, General Manager, FSA Application, School Eligibility and Delivery Services
Summary: 2005-2006 Verification Reporting and Verification Status Code "W" Warning Message
Posted on 03-09-2006
Verification Reporting and Status Codes
The verification of student aid application information regulations are in 34 CFR Part 668 Subpart E (34 CFR 668.51-668.61). In accordance with these regulations, schools are required to complete verification of the information submitted by an applicant for student financial assistance in connection with the calculation of the applicant's expected family contribution (EFC) for the Federal Pell Grant, campus-based, Federal Stafford Loan, and Federal Direct Stafford/Ford Loan programs.
Additionally, for the Federal Pell Grant Program, schools are expected to report a verification status code to the Common Origination and Disbursement (COD) System that reflects the appropriate verification status for each student selected for verification for whom a disbursement has been made.
The Verification Status Codes for the 2005-2006 Award Year are as follows:
2005-2006 Verification Status Code "W" Warning Message Processed on March 8, 2006
Schools that have made an interim Pell Grant disbursement to a student selected for verification should be concluding verification activities and changing a student's verification status code from "W" to either "V", "S", or "Blank", as appropriate. On March 8, 2006, we began processing a message to schools that have one or more student records still reported with a verification status code of "W". The message is a warning that these disbursements will be considered overawards and reduced to a zero dollar amount ($0.00), even if the disbursements were previously accepted in the COD System. The reduction of the affected disbursements is scheduled to occur on April 5, 2006.
This week, we will send the March 8, 2006 warning message to schools' SAIG mailboxes in the message class PGTX06OP. Additionally, we will send a file of student records reported to the COD System with a verification status code of "W" in the Reconciliation Records message class PGRC06OP. Schools that receive the warning message should review the accompanying Reconciliation Records file and report appropriate changes to the verification status codes for affected students before April 5, 2006.