THIS PROCESS IS IMPORTANT TO COMPLETING YOUR FINANCIAL AID
Verification is a quality control process in the administration of Federal Student Aid required by the U.S. Department of Education. Being selected for verification does not necessarily mean the applicant made an error when filing their application. The NWC Financial Aid Office (FAO) is simply required to conduct activities that will verify the accuracy of information provided by students (and parents, if applicable) when they apply for federal student aid.
Students whose applications are selected for verification will be required to submit specified documentation to the Northwest College FAO.
If the student/parents have filed a federal tax return,
Option #1 (PREFERRED): Use the IRS Data Retrieval Tool.
The best way to verify income is by using the IRS Data Retrieval Tool (DRT) which is part of FAFSA on the Web. If students/parents have not already used the IRS DRT, go to https://studentaid.gov , hover on Apply for Aid select “Review and Correcting your FAFSA form,” and navigate to the Financial Information section of the form. From there, follow the instructions to determine if the student is eligible to use the IRS DRT to transfer 2019 IRS income tax information into the student’s FAFSA. If you need more information about when, or how to use the IRS DRT see your financial aid administrator.
NOTE: If married and the student and spouse or the parents filed separate 2019 IRS income tax returns, the IRS DRT cannot be used and the 2019 IRS Tax Return Transcript(s) must be provided for each.
You must submit a 2019 Tax Return Transcript to the FAO.
Option #2: Submit a 2019 IRS Tax Return Transcript to the Financial Aid Office. Pick one of the following options in order to obtain a transcript:
Online Request. Go to https://irs.gov, under the Tools heading on the IRS homepage, click "Get Your Tax Record." Two options:
During the Get Transcript Online registration process, the IRS will send the user a confirmation code via email and an authentication code via text. The IRS email and text will contain a one-time code that the user will use to finalize the Get Transcript Online registration. The transcript displays online upon successful completion of the IRS’s two-step authentication.
OTHER OPTIONS to obtain tax transcripts
Telephone Request: call 1-800-908-9946.
Paper Request Form: use IRS Form 4506T-EZ or IRS Form 4506-T. found at irs.gov
Use the Social Security Number (or the IRS individual taxpayer identification number) and date of birth of the first person listed on the 2019 IRS income tax return, and the address on file with the IRS (normally this will be the address used on the 2019 IRS income tax return).
NOTE: Request a return transcript, NOT an account transcript, unless you (or parents, if applicable) have amended the return. Then request both a return transcript and an account transcript.
NOTE: It can take up to 30 days for the IRS to process your request. Please plan accordingly.
Option #3: Submit a signed copy of the 2019 1040 Income Tax Return and all applicable schedules.
*If the student (and parents, if applicable) earned income from work and were not required to file a federal tax return, the FAO will need:
There are separate forms for this process, depending on the type of verification required. Your Request Letter will list the titles of all forms needed. Download forms by clicking on the Financial Aid Forms tab on the NWC Financial Aid website. Visit the Financial Aid Forms