The Verification Tool is used to compare ISIR data with data on verification documents such as Federal tax returns and the verification worksheet. The tool provides a comparison of ISIR data to Tax/Worksheet data and calculates individual value differences, as well as a Verification Tolerance. The Verification Tolerance is the difference between the Verification Total based on ISIR fields compared with the Verification Total based on the Tax/Worksheet fields.
To use the Verification Tool, select a student record by clicking the “Verification Tool” link from the FAA Main Menu. Enter the student’s Social Security Number, first 2 letters of the last name, date of birth, and Transaction Number. (Leaving the Transaction Number field blank will retrieve the student’s most recent transaction.) Click the Next Button.
You can update both the student’s and parents’ information by entering data into the Tax/Worksheet column. If any fields are left blank in the Tax/Worksheet column, the information from those fields will be pulled forward from the ISIR column and used to calculate the verification tolerance. If you find differences between the ISIR data and verification documents and want to have the information reprocessed, you can send corrections electronically, or the student can make corrections on his or her Student Aid Report (SAR) and send them to the processor
Note: A correction is required if the verification tolerance is greater than $400; Income Earned from Work is updated for a tax filer; or Number of Family Members or Number in College is updated. If any of these conditions are true, you will receive a message reminding you that you must submit a correction. If you want to make corrections based on the values entered in the Tax/Worksheet column or if you need to make additional corrections to the student’s ISIR data, select “Make Corrections” at the lower part of the page.
Note: Use of the Verification Tool is not required, and if used, does not
replace a school’s need to maintain appropriate verification documentation.
Information entered in the Tax/Worksheet column should be from signed documentation
(such as tax returns and verification worksheets) and the school is required
to retain this documentation for the appropriate record retention period.
Related Topics
Transaction Number
Student's Number of Family Members in 2007-2008
Student's Number in College in 2007-2008
Student Filed 2006 Income Tax Return?
Student's Type of 2006 Tax Form Used
Student Eligible to File a 1040A or 1040EZ?
Student's 2006 Adjusted Gross Income
Student's 2006 U.S. Income Tax Paid
Student's 2006 Income Earned from Work
Spouse's 2006 Income Earned from Work
Student's Total Amount from Worksheet A
Student's Total Amount from Worksheet B
Student's Total Amount from Worksheet C
Parents’ Number of Family Members in 2007-2008
Parents’ Number in College in 2007-2008
Parents Filed 2006 Income Tax Return?
Parents’ Type of 2006 Tax Form Used
Parents Eligible to File a 1040A or 1040EZ?
Parents’ 2006 Adjusted Gross Income
Parents’ 2006 U.S. Income Tax Paid
Father’s/Stepfather’s 2006 Income Earned
from Work
Mother’s/Stepmother’s 2006 Income Earned from Work
Parents’ Total Amount from Worksheet A
Parents’ Total Amount from Worksheet B
Parents’ Total Amount from Worksheet C
Verification Total
Verification Tolerance
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