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Wednesday, June 17, 2009

Am I being audited by financial aid???

No you are not being audited. However, you have been selected for verification. You can think of this as a similar process to being audited, except at the end you won't have to pay back money and fees if the numbers don't add up!

If you receive a letter in the mail from the Financial Aid Office informing you that you have been selected for verification, then you are joining roughly 30% of students around the country who have to go through this process. The reason you were selected is so the Department of Education can verify that the information you submitted on your FAFSA is accurate according to your tax returns. Any discrepancies can be cleared up during this process. While we will look at your financial information, we will also verify your family situation. Many times students are selected for verification because of a unique family situation that we need additional clarification on. This is just to ensure that we can give you the maximum amount of financial aid that you qualify for.

One of the most important aspects of verification is the paperwork (I know you are excited!!). However, by turning in ALL of the requested documents and verifying that the appropriate signatures are in place, you can ensure a smooth verification process.

One more note: whenever you receive notice that you were selected for verification, turn your documents in as soon as possible. The quicker you turn them in, the quicker we can process them, and the quicker we can get your file completed and award you your financial aid!

Look at this process as quality control. Without these benchmarks built into our system we would not be able to offer the extensive options within financial aid that allow you to go to school!

As always, if you have any questions regarding this process or anything else concerning financial aid, please contact our office at 864-250-8128 or financialaid@gvltec.edu.

Thank you and we look forward to hearing from you!

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