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Verification Process

The 2026-2027 financial aid verification process requires selected students to submit documentation—such as tax returns, worksheets, or identity verification (V4/V5)—to colleges to confirm FAFSA accuracy. While the FUTURE Act Direct Data Exchange minimizes income verification, schools may still require documents to resolve conflicts or verify identity. The process often takes two weeks after submission, with, Federal Student Aid notes, earlier deadlines possible for priority aid.

Key Aspects of the 2026-2027 Verification
• Selected Items: Students might need to verify tax data, household size, number in college, or identity/statement of educational purpose.
• Documentation: Required documents may include signed 2024 federal tax returns, IRS tax transcripts, or specialized verification worksheets.
• Identity Verification (V4/V5): The verification process for V4 and V5 tracking groups has been modernized for 2026-27.
• Process Timing: If selected, the college financial aid office will contact the student directly with specific instructions.
• Consequences: Financial aid is generally not processed or finalized until the verification is complete.
Steps for 2026-2027
1. Check Student Account: Monitor the student portal at your college for notifications of selection.
2. Submit Documents Promptly: Complete and submit requested forms, ensuring all documents include the student's name and ID number.
3. Use IRS Data Exchange: Ensure consent was given on the FAFSA to use the FUTURE Act Direct Data Exchange to minimize required tax documentation.
4. Wait for Review: The process can take approximately two weeks, and schools may submit corrections to the Department of Education on your behalf.
It is recommended to have 2024 tax records available, as these are used for the 2026-2027 FAFSA.