Important FAFSA Information

 

Data Retrieval Tool (DRT)

 

In 2012, the Department of Education created the ISIR Data Retrieval Tool (DRT) for students to use when filing their FASFA. The DRT, when utilized by the student, matches the income information reported on the FASFA to the income information on the student’s federal tax return. If a student selects the DRT, the chances of being selected for the verification process may greatly be reduced. To take advantage of the DRT, you will need to have filed your federal tax return at least two weeks before filing the 2013-14 FASFA. If you have filed your FASFA before filing your tax returns, you can go back onto your FAFSA, two weeks after you have filed your tax return, and select the DRT option.

  

Student Aid Report (SAR)

After you send your FAFSA application to the U.S. Dept. of Education's federal processor, you will receive a Student Aid Report (SAR) by email. The SAR is a copy of the information you provided on the FAFSA. This report tells you your Expected Family Contribution (EFC). It also gives you the opportunity to correct any errors or update your data. If you estimated your financial information when you originally filed, you must now use the SAR to correct your data with accurate information. In order to make corrections, complete Part II of the SAR and resubmit your FAFSA. Don't forget to have your parent sign the form in addition to yourself if you are a dependent student. The SAR report will also show you the colleges that will receive your financial information. Important: Be sure that the Chestnut Hill College code, 003245, is listed on the SAR.  

 

Verification

One third of all the Free Applications for Federal Student Aid submitted to the U.S. Department of Education will be randomly selected for verification.  Verification is a process by which the Financial Aid Office is required to review the information you submitted on your FAFSA.  If you are selected, you (if independent) and your parents (if dependent) must supply documentation to confirm the data you reported on your FAFSA. If you are selected for verification, the Financial Aid Office will notify you regarding the necessary documentation you must submit to satisfy the verification requirement. No federal financial aid may be credited to your account until this process is completed.

 

"C" Flags

 When you submit your FAFSA, the U.S. Department of Education checks your information with other federal agencies. "C" Flags indicate inconsistent information or information that could not be verified by the USDE system. All "C" flags are identified on the Student Aid Report (SAR) with an explanation on Part I of the SAR. All "C" flags issues must be resolved before the Financial Aid Office can disburse any financial aid. Resolution can occur through the assistance of certain federal agencies. You will be notified by the Financial Aid Office of the documentation or actions required to remove the "C" flags.

 

Selective Service

Men aged 18 through 25 are required to register with the Selective Service System in order to receive federal funding. If you are between the ages of 18-25 and have not registered, please register at www.sss.gov as soon as possible. If you are over the age of 25 and have not registered for the Selective Service, please contact the Financial Aid Office immediately.

 

How Your Grades Impact Your Financial Aid Eligibility

 You are required to maintain satisfactory academic progress each academic year to renew your financial aid. The receipt of financial aid is a privilege that creates both rights and obligations. The United States Department of Education requires every post-secondary institution receiving federal funds (Title IV) to have an academic progress policy that is used to determine eligibility for, and continued receipt of funds. To be eligible for financial aid, you must make satisfactory academic progress each year. Please refer to the academic progress policy.