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Financial Aid and Scholarship Links

Visit these related links:

>Federal Student Aid
>College Foundation of NC
>Loans for College
>Fastweb
>Christian Service Application
>CU Scholarships & Grants
>NC Baptist Scholarship Program

FAFSA Simplification Tutorial

Eight Easy Steps to the FAFSA: A Student's Guide to the Free Application for Federal Student Aid:

>Click here

Loan Repayment Calculator

Calculate for lower monthly loan payments:

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Apply for Financial Aid:
2012 - 2013 Verification Process

 

What is verification?
The Federal Government randomly selects certain FAFSAs (Free Application for Federal Student Aid) for verification. Schools must collect certain tax data, and verification of untaxed income such as child support, food stamps, military and/or clergy benefits and other information. The school will compare the FAFSA and collected data, and correct any errors on the FAFSA.

How am I notified that I am selected for verification?
We will send information to the address you provided on your FAFSA if you have been selected. You will not receive an award notification until after you have completed the verification process.

What if I used the IRS Data Retrieval Tool (DRT)?
We encourage students and parents to use the DRT to complete the FAFSA and update their tax information. If you used the DRT and did not change the imported data from the IRS, in most cases, we will not need your federal tax return. If we feel there is conflicting information, we may ask that you request a tax return transcript from the IRS.

How do I request my tax return transcript?
If we request a copy of your tax return (or your parents tax return) you must request a "Tax Return Transcript" from the IRS. We are unable to accept paper tax returns for the 2013-2014 school year.

How to Link your IRS Tax Data to your FAFSA
For an instructional video, please visit the following link:
http://youtu.be/bsATmiSRcl4

 

Step by Step Instructions for IRS Data Retrieval Tool ---PREFERRED METHOD

1. Go on to the FAFSA website (WWW.FAFSA.GOV)
2. Click Login, enter your personal information.
3. You will then see “make FAFSA correction”, click it.
4. Enter your pin and password.
5. Then click on the Financial Information Tab (shown below circled).
   
   
   

6. On the first question about completing the tax return, select Already Completed.
7. You will be presented with a series of questions that determine your eligibility to use this tool. You must answer ‘No’ to the filtering questions regarding amended returns, foreign returns, and filing electronically within the last 3 weeks or by mail within the last 8 weeks.
8. You will be able to enter your PIN number
9. Click “link to the IRS”
   
   
   
   
10. You will be notified that you are leaving the FAFSA website, click OK.
11. Once on the IRS website, enter all the information it asks.
    * EVERYTHING MUST BE EXATCLY THE WAY YOU PUT IT ON YOUR TAX RETURN, ESPECIALLY THE ADDRESS.*
12. If the IRS validates your identification, your IRS tax information will be displayed.
    
    
    
    
13. DO NOT STOP YET!!!!!!!!!!
14. You will then be directed back to the FAFSA website. You must continue through the submission of the correction.
15. Follow the same steps for the student.
16. Click save and submit and sign with student and parent pin numbers.
17. Print the confirmation Page.

 

IRS Tax Transcript Request Process

Tax filers can request transcripts, free of charge for their 2012 tax return from the IRS in one of four ways.

1. Telephone Request:
• Available from the IRS by calling 1-800-908-9946
• Follow prompts to enter social security, and street address
• Select Option 2 for Tax Return Transcript, and enter year 2012

You should receive a statement of confirmation such as “Please allow 5-10 days to receive it. The transcript will be sent to the address they have on file for you.”

**Once you receive your transcript, please fax it to the Financial Aid Office at 252-398-6513.**

2. Online:


• Go to www.irs.gov
• Under “Tools,” Click “Order a Return or Account Transcript”
• Under #3, click “Order a Transcript”
  • Enter the parent/student social security number
  • Date of Birth o Street address and Zip Code
  • Click Continue o Select ‘Return Transcript’
  • Select tax year ‘2012’

You should see a confirmation such as “Please allow 5-10 days to receive it. The transcript will be sent to the address they have on file for you.”

**Once you receive your transcript, please fax it to the Financial Aid Office at 252-398-6513.**

3. IRS Office:


• Visit your local IRS Office
• IRS Office look up http://www.irs.gov/uac/Contact-Your-Local-IRS-Office-1
• Request a 2012 tax return transcript

**Once you receive your transcript, please fax it to the Financial Aid Office at 252-398-6513.**

4. Paper Request: Paper requests are a last resort option.
   
   
• IRS Form 4506T should be used to request a paper tax transcript
• Download at http://www.irs.gov/pub/irs-pdf/f4506t.pdf

You should receive your transcript within 5 to 10 days from the time the IRS receives and processes your request.

**Once you receive your transcript, please fax it to the Financial Aid Office at 252-398-6513.**

 

How do I submit my information for verification?
We prefer that all information be faxed to us at 252-398-6513. Please call us at 252-398-1229 or 1-888-4-CHOWAN to confirm receipt of your fax.

Requested documents may also be mailed to:

Chowan University
Financial Aid Office
One University Place
Murfreesboro, NC 27855

**Please remember to include the students
name on all correspondence.**

Deadlines for Verification

• New Students for fall 2013 enrollment - May 15, 2013
• Continuing students for fall 2013 enrollment - April 30, 2013

Failure to meet the verification deadlines may result in certain types of aid not being offered. In addition, delays in sending documentation may result in the student not having aid by the time their bills are due each semester. In this case, the student is obligated to pay the account balance on the student account, or their classes could be canceled.

Average Timeline for Verification

Month of Submission	Timeframe for mail / fax processing	Timeframe for FA Office to complete verification**	Total Processing Time	Season
January - March	1 week	1 week	2 weeks	Non-Peak
April - June	1 week	2 weeks	3 weeks	Peak
July - September	1 week	2 weeks	3weeks	Peak
October - December	1 week	1 week	2 weeks	Non-peak

**Please note that this timeline assumes that all requested information is complete prior to being submitted to the FA office. ** 

Once verification has been completed, an official award letter will be sent to the students home address provided on the FAFSA.

Additional Questions?
If you have any questions please feel free to contact the Financial Aid Office at 252-398-1229 or 1-888-4-CHOWAN. You may also email us at finaid@chowan.edu