Selected for The student must return all The student may receive all EFC increase: All disbursements and FWS employment must be based on verification and Title IV grant aid and Title IV aid for which he or the results of the verified transaction. filed an income Perkins Loan funds she is eligible, and may be tax return disbursed. Direct Subsidized employed under FWS. If the institution is unable to eliminate any resulting overpayment by reducing extension but Loans, Direct Unsubsidized subsequent disbursements within the award year (or loan period for Direct otherwise Loans, Direct PLUS Loans Loans), the student must return any disbursed Title IV grant aid and Perkins completed V1, and FWS wages earned do Loan funds for which the student is no longer eligible. The student may retain V4, or V6 not have to be returned. any Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS verification; and if However, no further Loans previously disbursed, as well as any FWS wages earned. the institution disbursements of those requires, once loans can be made and no EFC decrease: If the student is eligible for additional Title IV aid subsequent the tax return is further Federal Work Study disbursements must be based on the results of the verified transaction and filed, submission (FWS) employment may be consistent with the late disbursement rules at 34 CFR 668.164(j), if of a tax return occur. applicable. transcript or the use of the IRS DRT.3
Selected for verification and filed an income tax return extension but otherwise completed V1, V4, or V6 verification; and if the institution requires, once the tax return is filed, submission of a tax return transcript or the use of the IRS DRT.3 The student must return all Title IV grant aid and Perkins Loan funds disbursed. Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans and FWS wages earned do not have to be returned. However, no further disbursements of those loans can be made and no further Federal Work Study (FWS) employment may occur. The student may receive all Title IV aid for which he or she is eligible, and may be employed under FWS. EFC increase: All disbursements and FWS employment must be based on the results of the verified transaction. If the institution is unable to eliminate any resulting overpayment by reducing subsequent disbursements within the award year (or loan period for Direct Loans), the student must return any disbursed Title IV grant aid and Perkins Loan funds for which the student is no longer eligible. The student may retain any Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans previously disbursed, as well as any FWS wages earned. EFC decrease: If the student is eligible for additional Title IV aid subsequent disbursements must be based on the results of the verified transaction and be consistent with the late disbursement rules at 34 CFR 668.164(j), if applicable.
103116ChangesinVerificationTrackingGroupAttach.docx