Student Financial Aid

Verification

Each year the federal government requires schools participating in the distribution of financial aid to verify the consistency and accuracy of data submitted on the Free Application for Federal Student Aid (FAFSA).

To complete verification, applicants are asked to submit federal tax documents and/or complete some forms and submit them to the Office of Student Financial Aid.

Who is selected

Any student who completes a FAFSA may be chosen for verification.

If you have agreed to conduct financial aid processes electronically by providing eConsent on myZou, the request for verification documents will be sent to your MU e-mail address. Otherwise the request will be sent through the U.S. Postal Service. If you have electronically consented but have not yet been assigned an MU e-mail address, we will use U.S. mail until your e-mail account has been activated.

Timeline and deadline

Please allow two weeks for the verification process to be completed. The process might take longer if we receive incomplete documents or require additional information.

Your financial aid funds cannot be applied to your MU account until verification has been completed. Return the requested documents to us as soon as possible.

Verification must be completed before the last month of the semester to allow processing time for your financial aid.

Documents

Some applicants will be required to submit copies of their Federal Tax Returns and W2s and others will be required to submit a copy of their IRS Tax Return Transcripts and W-2s. The majority of applicants will be required to submit a copy of their IRS Tax Return Transcript. This is a requirement from the Department of Education to guarantee the accuracy of the information reported on the FAFSA to insure that federal aid is awarded properly.

To obtain a copy of your IRS Tax Return Transcript you can call the IRS at 1-800-908-9946. You can either request that the IRS send the transcript directly to MU, or have it mailed to your home. For instructions on how to request a Tax Return Transcript on-line or how to request a Tax Return Transcript by mail, go to: http://www.irs.gov/individuals/article/0,,id=232168,00.html. If you filed your return electronically you should be able to request a copy within 1-2 weeks. If you filed a paper return, you should be able to request a copy within 6-8 weeks.

Applicants that we are requesting IRS Tax Return Transcripts from have the option of logging back into their FAFSA and using the IRS Data Retrieval Tool. This will fulfill the IRS Tax Return Transcript Request. However, not all applicants can use the IRS Data Retrieval Tool. If any of the following apply to the applicant than he/she cannot use the IRS Data Retrieval Tool and will have to submit an IRS Tax Return Transcript to the Office of Student Financial Aid.

• Parents will all zeros for SSN
• Any student or parent with a marital status date of January 1, 2012 or later
• Any student or parent who indicates they have not already filed a tax return or will not file a tax return
• A married independent applicant and spouse who filed separate returns
• Parents of a dependent student who filed separate tax returns
• The applicant, parent, or spouse, as applicable, who have filed an amended return

If you use the IRS Data Retrieval Tool and alter the data, you will be required to submit a copy of the IRS Tax Return Transcript.

After the initial verification document request have been met, the Office of Student Financial Aid will compare the information provided on the FAFSA and might ask for additional information if we find discrepancies that cannot be explained.

Processing

The Office of Student Financial Aid will correct any variances and resubmit your FAFSA to the Central Processing System (CPS). CPS will then send you an updated Student Aid Report (SAR). If you have received a financial aid package before completing verification, your aid eligibility will be reevaluated by your financial aid adviser after verification has been completed. You will be notified if your awards change after verification.