|AwardYear: 1998 - 1999|
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Section: If Verification Reveals Incorrect or Outdated Information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 data record.
Corrections vs. Updates
When a student applies for federal student aid, he or she provides a snapshot representation of the familys 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.11
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 data under certain circumstances. Updating is discussed later in this chapter.
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 students application is selected for verification, you must completely verify the required data items before correcting or updating.