Navigating the Verification Process for College Financial Aid: A Parent's Journey

As a parent of two college students, I can attest to the complexity and sometimes frustration of submitting verification for financial aid. The term 'college student' submitting verification can often lead to confusion, as it's usually the family, specifically the parent, who handles this task. In my experience, submitting verification data is no small feat—it often requires a significant amount of time and patience, especially when dealing with the Internal Revenue Service (IRS).

One of my sons attended the University of Delaware and graduated in 2013 with no financial aid as an out-of-state student at a public college. The other son graduated from Villanova in 2014 and, much to my dismay, I found myself submitting verification data for financial aid at least three out of the four years. In some cases, it was likely all four years.

Initially, the process was relatively straightforward. I would submit a copy of our family's federal tax returns and my son's Simple Federal tax form. However, the process became more complex as the years went on, particularly when I had to use the online IRS system. This process was a real pain, especially when dealing with payers rather than recipients.

The distinction between refunds and paying taxes is crucial. If a family is receiving a refund, the IRS processes the information quickly and efficiently. Conversely, if a family is paying taxes, the IRS takes its time, as mistakes can result in penalties for the parent but interest on the refund for the IRS.

Based on my experience, I recommend assuming that verification is required each of the years in which you request financial aid. Be prepared for potential delays and complexities in the process. Here are a few tips to help make the process smoother:

Key Tips for Navigating Financial Aid Verification

Stay Organized: Keep all necessary documents, including tax returns, neatly organized and easily accessible. Use the Online System: While it can be cumbersome, the online IRS system is often the best approach for submitting financial information accurately and promptly. Be Patient: Allow ample time for the verification process, as it can be unpredictable and time-consuming.

Conclusion

The process of financial aid verification can be a significant challenge for parents, but with patience and attention to detail, it can be managed. Remember to stay organized, use the online system (where appropriate), and be prepared for delays. Good luck!