AwardYear: 1995-1996 ChapterNumber: 2 ChapterTitle: Required Verification Items And Acceptable Documentation Section: Required Verification Items And Acceptable Documentation PageNumber: For applications selected for verification, the following data elements used in calculating the applicant's EFC MUST be verified: - HOUSEHOLD SIZE (Number of persons in the household) - NUMBER ENROLLED IN POSTSECONDARY EDUCATION (Number of household members attending a postsecondary educational institution at least half time [6 credit hours for at least one term or 12 clock hours per week]) - ADJUSTED GROSS INCOME (AGI), or income earned from work if AGI has not been calculated, for the base year (1994) - U.S. INCOME TAX PAID for the base year - CERTAIN UNTAXED INCOME AND BENEFITS for the base year »Social Security benefits, if certain conditions apply (see the "Verifying Untaxed Income and Benefits" section in this chapter) »Child support received, if certain conditions apply (see the "Verifying Untaxed Income and Benefits" section) »Untaxed payments to IRA and/or Keogh plans »Foreign income exclusion »Earned income credit »Interest on tax-free bonds »Other untaxed income from the U.S. income tax return (excluding schedules) In addition to verifying the required application data items, you may choose to verify any other application item(s) as appropriate, requiring any reasonable documentation, in accordance with consistently applied institutional policies and procedures. (See Chapter Four, "Discretionary Verification.") **[The graphic "Required Verification" on page12 is currently unavailable for viewing. Please reference your paper document for additional information.]** |