Because students may make errors on their FAFSA's, the federal government has a process called "verification". PTS may verify the FAFSAs that are selected for verification by the federal government's Central Processing System and/or exhibit conflicting information. The Seminary's Financial Aid Office will notify the students in writing if they are selected and advise of the required documentation.
IDR vs Tax Transcript
All students are urged to use the IRS Data Retrieval Tool (IDR) when completing the FAFSA. The FAFSA will prompt the student if he/she chooses to link into the IRS site. The IRS will then provide the opportunity for the student to download the tax information directly into the FAFSA.
Students who choose NOT to use the IDR, and are selected for verification, will have to contact the IRS for the Tax Transcript. A signed Tax Transcript can be submitted to the Financial Aid Office. A copy of the Federal Income Tax Form will NOT be accepted by the Financial Aid Office.
If the school makes corrections to the FAFSA, the student will receive a new Student Aid Report (SAR).
If the school has conflicting information concerning the student's eligibility or the Financial Aid Officer has any reason to believe that the student's application information is incorrect, the discrepancies must be resolved before any institutional or federal funds can be disbursed.