ChapterTitle: Completing the Verification Process
Section: If Verification Reveals Incorrect or Outdated Information
In completing the verification process, you will likely discover some
errors or inconsistencies in the application information. Depending
on the nature of these discrepancies, you may require the applicant to
update or correct the application data.
Corrections vs. Updates
When a student applies for federal student aid, he or she provides a
"snapshot" representation of the family's financial strength as of the
date the application is signed. If the information on that application
is inconsistent with the documentation the student provides, the
student either reported some information incorrectly, or the
information has changed since the application was completed.
If the information was reported incorrectly, the student must correct
the data unless the errors are within the predetermined tolerance level
(see the next section).
If the information was correct when the application was filed but has
since changed, the student is only required, and allowed, to update
the application under certain circumstances. Updating is discussed
later in this chapter.
[[Applies to all students, regardless of verification selection]]
THE PROCEDURES FOR CORRECTING AND UPDATING
APPLY TO ALL FEDERAL STUDENT AID APPLICANTS, NOT
ONLY TO THOSE WHOSE APPLICATIONS ARE SELECTED
FOR VERIFICATION. HOWEVER, IF A STUDENT'S
APPLICATION IS SELECTED FOR VERIFICATION, YOU
MUST COMPLETELY VERIFY THE REQUIRED DATA ITEMS
BEFORE CORRECTING OR UPDATING.