AwardYear: 1996-1997 ChapterNumber: 3 ChapterTitle: Completing the Verification Process Section: If Completed Verification Reveals No Errors PageNumber: When you have obtained all necessary verification documents from the applicant, you should compare that documentation to the information originally reported on the application. If the verification process shows that all the student's information is correct, and there are no outstanding issues or conflicting information, you may award aid in the following ways according to the student's eligibility: - DISBURSE Federal Pell, FSEOG, and Federal Perkins Loan funds - EMPLOY students under the FWS program - ORIGINATE Direct Subsidized Loans and CERTIFY Federal Stafford Loan applications or deliver Direct Loan/Stafford Loan proceeds Receipt of the Federal Output Document [[Output document deadline]] To pay Federal Pell Grant funds to a student not being verified, the school must receive a final and valid SAR (or other valid federal output document) BY THE STUDENT'S LAST DAY OF ENROLLMENT OR BY AUGUST 29, 1997, whichever is earlier. Any federal output document you receive after that time is NOT eligible for payment. [[Verification extension]] If a student's application is being verified, you may pay on any final and valid federal output document received within 60 DAYS AFTER THE STUDENT'S LAST DAY OF ENROLLMENT, OR BY AUGUST 29, 1997, whichever is earlier. Deadline--Normally, to pay a Pell Grant, the school must receive the student's final, valid federal output document by the last day of the student's enrollment, or by August 29, 1997, whichever is earlier. This deadline is extended for students being verified; the valid output document must be received at the school within 60 days after the last day of the student's enrollment, or by August 29, 1997, whichever is earlier. [[Verification extension cannot result in lower EFC]] For a student whose application is being verified, if you receive a final and valid federal output document after the Pell deadline but within the verification extension deadline, you must pay based on the HIGHER EFC calculated for that student. For example, assume a student's application was selected for verification and her original EFC was 850, but after verification and correction of the application, her reprocessed EFC is 20. If the reprocessed EFC was received within the Pell deadline, you may use it for payment and it will result in a higher Federal Pell Grant award. However, if the reprocessed EFC is received after the Pell deadline, you MUST pay based on the original, higher EFC. (This rule's intent is to ensure that students who take advantage of the verification extension deadline do not get more aid by doing so; therefore, it is in the student's best interest to complete verification as soon as possible.) |