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Required Verification Items And Acceptable Documentation

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
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Last Modified: 06/11/1998