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Verification

Financial Aid

Verification is a Federal process used to confirm students' eligibility for certain aid programs. Students who are selected for verification must submit information to verify the data that they provided on the FAFSA.

Students selected for verification will be notified via email.

Financial aid may not disburse to the student's account until verification is completed.

How to Get a Tax Transcript | Unusual Filing Situations | Portal Tutorial | FAFSA FAQ

Frequently Asked Questions About Verification

Where can I see the documents I need to submit?

  • Log in to the MyISU Portal and select the "Student Self-Service" badge. From here, select "View Financial Aid" on the right. Choose the year you wish to view. Missing requirements and instructions are provided.

Why was I selected?

  • Approximately 34% of aid applicants are selected for this process by the Federal Department of Education.

How do I provide my financial information?

If I was asked to verify information in-person but cannot come to campus, what alternatives are available?

  • Your signature may be confirmed by an authorized Notary Public. Many banks, hospitals, and insurance agencies offer notary services. Only original documents may be accepted.

I was asked to provide an official academic transcript from my school. What options are available for submitting this document?

  • ISU participates in the online Parchment retrieval process. Visit www.parchment.com and click "share" to send your high school transcript to ISU electronically for free. Indiana residents may register for free.
  • Some transfer students will be asked for college transcripts. In addition, not all high schools are listed in Parchment's online database. If this is the case, you may send an official, sealed transcript to the ISU Office of Admissions, 318 N 6th St, Terre Haute, IN 47809.

What are additional funding options?

  • Federal and State aid, even loans, will not pay unless verification is completed. Other sources of funding, such as private loans, can be found by viewing the Sycamore Express webpage.

Why do you keep asking me for additional information after I submitted my forms?

  • Verification requires Financial Aid officers to identify conflicting information or unusual financial situations. If your answers contradict what you originally put on the FAFSA, you may be asked to submit a signed statement or additional financial document that substantiates your current situation.
  • Unfortunately, until your file is comprehensively reviewed, we have no way to predict which information we may need. The best advice is to submit all required information far in advance, so that if we still need something else, there is ample time for you to submit it.
  • Your answers affect your eligibility for federal and state funds, so answer questions honestly and be sure to read the forms carefully before submitting.

Who is required to file a tax return?

  • Single under 65 and have a gross income of at least $10,300
  • Single and claimed as a dependent on someone else's taxes and have earned income of more than $6,300
  • Married filing jointly and both are under 65 and have a gross income of at least $20,600
  • Married filing separately any age and have a gross income of at least $4,000
  • Head of Household under 65 and have a gross income of at least $13,250
  • You had net earnings from self-employment of at least $400
  • For a complete listing see IRS Publication 17, page 5 (https://www.irs.gov/pub/irs-pdf/p17.pdf)

Does filing status matter?

  • Yes, filing status does matter, and if you file your taxes incorrectly, you may need to amend your taxes before you will be eligible to receive Federal of State aid.  Some general rules are:
    • Single- individuals who are not married on the last day of the calendar year.
    • Married filing joint
    • Married filing separately
    • Head of Household – individuals who are not married, or considered “not married” on the last day of the calendar year, you paid more than half of the cost of keeping up a home for a year, and a qualifying person lived with you in the house for more than half the year.
    • For a complete explanation see IRS Publication 17, page 20 (https://www.irs.gov/pub/irs-pdf/p17.pdf)

Who is a Parent?

  • Dependent students are required to include on the FAFSA information from the dependent student's legal parents (biological, adoptive, or as determined by the state) regardless of the parents' marital status or gender, if those parents live together. 

    Also, if the parent is legally married in one of the 50 states, the District of Columbia, a U.S. territory, or a foreign country, the response to the FAFSA marital status questions must be "married" without regard to:
    • Whether the marriage was between persons of the same sex or opposite sex
    • Where the couple resides; or
    • Where the student will be attending school.
       
  • Grandparents, foster parents, legal guardians, widowed stepparents, or other individuals or relatives are not considered parents on the FAFSA unless they have also legally adopted the student or have been determined by the state to be the student's legal parent.

Which assets am I required to report?

  • Real Estate (do not include the home in which you live)
  • Rental Property (include a unit within a family home that has its own entrance, kitchen and bath rented to someone other than a family member)
  • Trust Funds
  • Uniform Gifts to Minors Accounts and Uniform Transfers to Minors' Accounts
  • Money Market Funds, Mutual Funds, Certificates of Deposit, Stock Options, Bonds and other securities.
  • Installment and Land Sale contracts (including mortgages held)
  • Commodities
  • Qualified Educational Benefits or Education Savings Accounts (Coverdall Savings, 529 college Savings Plans and the refund value of 529 prepaid tuition plans) a.
    • For Independent Students account owned by the student and/or spouse report as student investments
    • For Dependent Students report as parental investments including all accounts owned by the student and all accounts owned by the parents for any member of the household.
  • Students must report money received or paid on their behalf
    • Money that the student received from a parent whose financial information is not reported on the FAFSA and is not part of a legal child support agreement.
    • Distributions to the student from a 529 plan that is owned by someone other than the student or the student’s parent (such as a grandparent, aunt, uncle, or non-custodial parent)
  • Business and/or Investment Farms value must be included
    • Market Value of land, buildings, machinery, equipment, inventory, etc
    • Debt means only those debts for which the business or investment farm was used as collateral.


  • What is NOT reported on the FAFSA as Assets
    • The Home you live in
    • The Value of your life insurance
    • Retirement Plans (401K, pension, annuities, non-educational IRA’s, Keogh Plans etc)
    • Uniform Gifts to Minors Accounts and Uniform Transfers to Minors Accounts for which you are the custodian, but not the owner
    • The value of a small business if your family owns and controls more than 50% of the Business and the business has 100 or fewer full-time or full-time equivalent Employees. (family includes persons directly related to you, or persons who are or were related to you by marriage such as parent, sister, cousin, spouse, stepparent or sister-in-law)
    • The Value of a family Farm that you, your spouse, or your parents live on and operate.

What is the timeline for processing?

  • Complete files are sent to our third party verification servicer daily. After all documents are submitted, verification takes 10-14 business days, or approximately three weeks during high volume.
  • Verification affirms that a file is ready for processing. There may be additional steps after verification is completed before payment, especially for loan borrowers. To expedite payment, we recommend daily monitoring of the ISU Student Portal and Sycamores email for account updates.

Submitting Required Documents To ISU


Indiana State University recommends that students selected for verification for 2016-2017 submit all requested documents by July 1, 2016. This allows adequate time for completing verification before bills are due for the fall semester.

Submit documents via U.S. mail, fax, or scanned and emailed to:

Office of Student Financial Aid
Indiana State University
220 N 7th St
150 Tirey Hall
Terre Haute, IN 47809
Fax: (812) 237-4330 or (812) 237-3925
isu-finaid@mail.indstate.edu

To expedite processing, students should list their 991 student ID number on all documents submitted.

Contact

Student Financial Aid
220 North 7th Street
150 Tirey Hall
Indiana State University
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