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| Alabama Agricultural and Mechanical
University (AAMU) adheres to the following verification
principles developed be the National Association of Student
Financial Aid Administrators (NASFAA). To ensure that limited
financial aid funds are awarded to eligible students in an
equitable and consistent manner, all institutions must develop
policies for verification of family reported information.
Requirements for verification of family-reported information
for purposes of qualifying for financial aid must be cost
effective, flexible, and based upon acceptance of a reasonable
tolerance range for error applied to award amounts. While
institutions vary widely by type, students served, and
mission, minimum standards for verification must exist for all
institutions. Verification procedures will be uniformly
applied to all financial aid programs which require
demonstrated financial need as eligibility criterion. |
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"WHO"
Alabama Agricultural and Mechanical University
(AAMU) will verify 100% of the total number of aid applicants
selected by the Federal Processor. In addition, we will
resolve all comments on the ISIR, conflicting documentation,
or the AAMU Financial Aid Staff may question any aspect of an
application. |
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"WHAT"
For applicants undergoing verification, AAMU
will verify the items specified in the 34 CFR Part 668.56. Specifically
these items include for Title IV applicants: AGI; taxes paid;
non-taxable income; household size; number in postsecondary
education. Additional items will also be verified when there
is conflicting documentation on file or items selected by the
AAMU Financial Aid Staff. |
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"APPLICANT
DEFINITION"
An
applicant is anyone enrolled at AAMU who is also eligible to
receive an aid award. |
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"APPLICANT'S RESPONSIBILITIES"
It will be the applicant's responsibility
to see that all documents requested are properly submitted with
proper signatures. If a Pell or campus-based applicant's dependency
status changes during the award year, updating will occur unless
that change is as a result of a change in marital status. Household
size and number in postsecondary education can only be updated
as a result of overpayment discovered during the verification
process. |
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"DOCUMENTATION"
Documentation will consist of signed copies
of most income-tax returns as well as the completed and signed
appropriate verification form. Some exceptions to documentation
may be made in conjunction with what is allowed by federal regulation. |
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"TIME PERIOD"
All applicants are encouraged to submit the
required forms and documentation as quickly as possible. For
campus-based funds, which are made reasonably available to all
eligible students within our packaging policy, the application
is not complete until the verification process has been completed.
Normally, campus-based aid will not be awarded for a semester
that is more than half over unless the Financial Aid Director,
Coordinator for Information Services, or Coordinator for Administrative
Services decided to make an exception. For Pell recipients,
the deadline is 120 days from the applicant's last date of enrollment
or September 26, whichever comes first. This includes making any
necessary corrections, submitting those corrections to the Central
Processor, and receiving the new Institution Student Information Record (ISIR). AAMU
requires verification to occur before determining eligibility. |
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"INTERIM
DISBURSEMENTS"
No Title IV aid will be released until
the student has completed the required verification process. |
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"CONSEQUENCES"
If a student fails to provide documentation or
information within the required time frame, no Title IV aid
will be released. |
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"TOLERANCES"
For the Federal Pell Grant Program, the
tolerance values will be used in order to pay a student. If
the student does not qualify for payment options based on
tolerance, then a correction must be filed with the Central
Processor. |
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"NOTIFICATION"
The AAMU Office of Student Financial Aid will
inform a student of what is required for verification, as
processing occurs. Documents missing will be noted on the
missing item list or document- tracking letter and given or
mailed to the student. If during the process of verification
or updating, AAMU realizes that a Federal Loan or any other
financial aid that exceeds tolerance levels, and/or exceeds the student's need, the student will be
notified. |
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"REFERRAL PROCEDURES FOR OVERPAYMENTS "
The AAMU Office of Student Financial Aid follows the
referral procedures mandated by Federal regulation. Information will
be referred to Debt Resolution Services and to the National Student Loan data System (NSLDS) as outlined in the Student Aid Handbook. |
