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Financial Aid Policies

Financial Aid Verification Policy

Verification is the processes used to check the accuracy of the information that is reported on the Free Application for Federal Student Aid (FAFSA).  It is Illinois College’s policy to verify all applicants selected for verification by the U.S. Department of Education’s Central Processing System (CPS).  Illinois College also reserves the right to select additional applications for verification.

The applicant is initially notified by the CPS on their Student Aid Report (SAR) of their selection for verification. The Financial Aid Office will notify the applicant by email or letter of the specific documents that are needed to complete the process.

Documents should be submitted within 3 weeks of the request. The applicant can request an extension of the deadline for submitting verification documentation. The extension request should be in writing and include an explanation as to why the information is not available and the expected date the information will be sent.

Failure to submit the verification documents in a timely manner will delay the financial aid award, may limit eligibility for some financial aid programs, or may result in the cancellation of the financial aid award.

Corrections to FAFSA data resulting from verification will be submitted electronically to the CPS by the financial aid office. The Central Processor will send an updated Student Aid Report to the applicant. The applicant will be notified of award changes resulting from verification by receiving an updated award letter from the financial aid office.

If the Office of Student Financial Services suspects that a student, employee or other individual has misreported information or altered documentation to fraudulently obtain federal funds, the office will report its suspicions and provide any evidence to the Office of Inspector General of the US Department of Education.