| V E R I F I C A T I O N : F A Q |
Do I really need to respond to this request?
Yes.
The U.S. Department of Education requires that you comply with our
requests for financial information. If you do not complete and return all
the requested information within the designated time frame, the NYU Office
of Financial Aid (OFA) is required to cancel your financial aid.
Completion of verification is necessary to remain eligible for both
federal aid and also for most types of NYU scholarships.
How do I send you the information?
Be sure all forms are complete and that you have included all requested information and documents before you submit the paperwork to the OFA.
Mail the completed forms, signed federal tax returns, and W-2s and any other supplemental information to:
Office of Financial Aid
New York University
7 East 12th Street
6th Floor
New York, NY 10003
Or fax the documents to: 212-995-4661. Please be sure to fax both sides, and include your University I.D. number (UID) on all faxed pages.
You may also drop the information off in person at:
Office of Financial Aid
Student Services Center
25 West 4th Street
New York, NY 10012
Why do I need to give you this information? Isn't it on the FAFSA Form?
The U.S. Department of Education requires that NYU verify a certain percentage of our students. Students and families must provide the Office of Financial Aid with the financial information necessary to complete the verification.
The purpose of the process is to allow the OFA to collect the documents necessary to verify that the information reported on the FAFSA is correct. If any information is incorrect, the OFA must make corrections and submit the corrections to the Department of Education for reprocessing.
You and your family agreed to provide financial information when you
completed the FAFSA. Everyone who signs the FAFSA agrees to "If asked,
provide information that will verify the accuracy of your completed form."
Will my information be kept confidential?
Yes; all of your financial information, including your federal tax
returns, will be kept confidential. However, if corrections are necessary,
the OFA will transmit them electronically to the U.S. Department of
Education.
How long do I have to respond?
You must complete all forms and return them to the OFA by the deadline
stated on the verification forms. Be sure that all forms are appropriately
signed. You must include with the completed verification forms signed
copies of current federal income tax returns for you and your parents, if
you are a dependent student (or for you and your spouse, if you are an
independent student). All schedules (all pages) of the tax returns must be
submitted. Additionally, you must submit copies of all W-2s for the
requested tax year, and any other documentation we may request to support
your FAFSA data.
Do you really need all of the pages of my (and my parent's) federal tax return?
Yes. You must submit a copy of all pages of the federal tax return,
including all schedules (such as Schedules B, C, C-EZ, D, E, F, J, and SE)
and all supplementary forms. The OFA needs a complete federal tax return
to conduct our review. We do not, however, need copies of state income tax
returns.
What if I (or my parents) don't have a copy of the federal tax return and/or W-2s?
You must immediately notify the Office of Financial Aid. Also, you must
immediately request copies of your W-2s from your employers (who are
required by law to provide an additional copy) and/or contact the Internal
Revenue Service (toll-free 1-800-829-1040) to obtain a transcript of your
signed federal tax return. Form 4506, "Request for Copy of Tax Return," is
available at www.irs.gov/pub/irs-pdf/f4506.pdf.
What if my parents don't want to give me a copy of their federal income tax return?
Your parents may submit a copy of their federal tax return directly to
the OFA. Though we prefer that your parent's federal income tax return be
enclosed with your other completed verification forms, it can be submitted
separately. However, they must write your NYU ID on each page of the
return so that we can match it with the rest of your verification
paperwork.
Once I've sent the OFA a copy of the verification forms, taxes, and W-2s, I'm done, right?
Not necessarily. After reviewing the documents you submitted we may
need to request additional information and/or documentation to resolve any
discrepancies. You must respond to these requests for additional
information within two weeks, or by the designated date.
What if I (or my parents) have applied for an extension to file our tax return?
As instructed by the verification forms, submit to the OFA a copy of
your Form 4868 (the request for an extension to file a federal return).
You (and/or your parents) must immediately submit a signed copy of the tax
return as soon as the extension expires.
What if I didn't file a federal tax return?
If federal regulations did not require that you (or your parents) file a return, simply indicate that you did not file on our "Tax Verification" form. Submit all completed verification forms along with a copy of your W-2s to the Office of Financial Aid.
If you (or your parents) were required to file a federal tax return but
did not, you must file immediately and submit a copy to the OFA to remain
eligible for financial aid. Failure to comply with federal tax law will
force the OFA to cancel your financial aid.
How will I know if you have received my paperwork?
You can check NetPartner
for the message "verification documents received."
How long will the review take?
Typically, documents are reviewed within two weeks of receipt. However,
the OFA may request additional documents and/or information. You must
respond to these additional requests within two weeks.
Will I be notified when the verification is complete?
You will not be sent an e-mail, but you can check NetPartner
for the message "verification complete."
Will my financial aid be affected?
It is possible that your aid will be affected. The awards most likely
to be affected are any Federal Pell Grants, Federal Academic
Competitiveness Grants, and the Federal SMART Grants. These awards may
increase or decrease. If you under-reported your income or assets on the
FAFSA, the above awards are likely to be reduced or cancelled. Other
federal aid, FSEOG Grants, Stafford and Perkins Loans, and NYU
scholarships could also be affected.
How do I know who to include on the Household Verification return?
Most of the time though not always the people listed as exemptions on your federal income tax return (or your parent's, if you are a dependent student) qualify as members of the household.
For dependent students:
The student and the parents with whom they reside always count as members of the household. Brothers and sisters of the student also count, if the parents provide more than 50% of their support (though they may not necessarily live with your parents). Other people count as part of the household if they lived with the student's parents last year, will continue to do so from July 1 this year to June 30 next year, and will receive more than 50% of their support from the student's parents.
For independent students:
The student and their spouse (as long as they are not separated or
divorced) always count as members of the household. Other people count as
part of the student's household if they lived with the student last year,
will continue to do so from July 1 this year to June 30 next year, and
will receive more than 50% of their support from the student and/or the
student's spouse.
My parents are divorced. Whose information do I include?
You should include the information for the parent with whom you lived
for most of the year. This is typically the custodial parent. If your
custodial parent has remarried you must also include the financial
information for the new spouse. If your non-custodial parent contributed
money to you (for your education or otherwise) it must be included as your
(you, the student) other untaxed income. If the non-custodial parent does
not provide any financial support to you at all, then they are excluded
from the FAFSA data.
I am an independent student (as defined on the FAFSA) and someone other than a spouse provides support for me. Do I include that on the FAFSA?
Include the information only if they provide money to you as support.
If they are providing "support in kind" (i.e. housing or food) then it
does not need to be included.
Am I required to submit my stepfather's (or stepmother's) information for the verification? What if they don't support me financially?
Yes, you must include your stepparent's information on the verification
forms and submit copies of their federal income tax returns and W-2s. The
U.S. Department of Education requires that you submit all requested
information for the parent(s) with whom you live and also anyone married
to the parent with whom you live. You must comply with the OFA's requests
whether or not the stepparent provides any financial support.
What if a prenuptial agreement states that my stepfather (or stepmother) is not required to support me financially and/or contribute to my college education?
You must still submit that stepparent's financial information. Neither
pre-nuptial agreements nor any other sort of legal agreement release a
stepparent from the obligation to provide financial information necessary
to complete verification. Of course, simply submitting information for
verification in no way obliges your stepparent to support you or to pay
for your education. They are simply providing information that will be
used to determine your financial need.
What if my parents don't support me?
If, according to federal guidelines, you are a dependent student, your
parents must submit any and all financial information requested by the
OFA, regardless of whether or not they support you or intend to continue
supporting you.
I'm trying to complete the Expense/Resource Worksheet, but the resources don't equal the expenses.
Be sure to report any cash gifts or money paid on your and your family's behalf. If, for example, a grandparent paid part of your tuition for the academic year, those funds are considered a payment made on your behalf and must be reported on the "Cash Gifts" line in the Resources column on the Worksheet.
If you submit a Worksheet on which the expenses exceed the resources,
the form will be returned to you for further explanation. One way or
another, your family must have met the expenses you listed on the form.
Note that the Resources column includes a line where your family can
report the amount of expenses charged on a credit card (and a line in the
Expenses column where any payments made towards credit card balances must
be reported).
Must I report on the Expense/Resource Worksheet all of the money that family and friends gave to me (and my parents)?
Yes. All money given to your family (student and spouse, for
independent students; student or parents, for dependent students) must be
reported as a cash gift on the worksheet. This includes money paid on your
behalf towards tuition or other educational expenses. If you are an
independent student and your parents (or friends or other relatives) paid
part of your tuition or provided a monthly allowance or even occasional
gifts, all of these funds must be reported as a cash gift on the expense
resource worksheet.
Where on the Expense/Resource Worksheet do I indicate the financial aid I have received?
You don't. Notice that the Expense column asks that you report only
money paid to NYU by cash or check (and not later refunded to you). That
means NYU charges covered by financial aid should not appear on the
Worksheet. Therefore, the financial aid that paid for these charges should
not be listed as a resource. Only financial aid refunded to you after all
tuition and housing charges were paid in full can be listed as a resource
on one of the "miscellaneous" lines in the Resources column.
What if I need help completing the verification forms?
You may contact us by telephone at 212-998-4444, or by E-mail. You may visit us in person between 9 a.m. and 5 p.m. at the Student Services Center at 25 West 4th Street.