Financial Aid

Verification Process

2015-16 Verification Process

About one-third of Cornish students are selected annually by the Department of Education for review in a standardized verification process. FAFSA applications are compared to IRS data and household information for accuracy. The Office of Financial Aid notifies selected students and makes requests for documentation.

If you are selected, completing verification becomes part of your application for financial aid. Limited funds are awarded to students who complete their files early so complete all financial aid requests promptly, including verification forms and documents. Estimate packages to incoming students with incomplete files are not a guarantee of aid and do not produce disbursements of aid in the fall. 

Verification - Use IRS Data Retrieval Tool

Use the IRS Data Retrieval Tool when completing the online FAFSA at www.fafsa.gov for an early financial aid package. As you and your parent or spouse are completing the FAFSA, you will have the option to go to the IRS site to upload 2014 tax return data. If you are eligible for data transfer and accept, your tax information will be loaded to answer specific FAFSA questions. You will submit this information to the FAFSA application. Usingyour W2s and/or Schedule C, you will then report your 2014 wages manually . In most cases, verification is as simple as accepting IRS data retrieval and submitting the following documents:

  • All 2014 W2s for you, your parents or your spouse
  • 2014 Schedules C, D, E, F for you, your parents or your spouse
  • A completed Verification Worksheet

Verification – Not Using IRS Data Retrieval Tool

If you or your parents or spouse elect not to use or are not eligible to use the IRS tool, the Office of Financial Aid will request a Tax Return Transcript to complete verification. If you or your parents or spouse have submitted an amended tax return 1040X to the IRS, we will request a Tax Return Transcript and a Tax Account Transcript to complete verification. In addition, we will request the following documents: 

  • All 2014 W2s for you, your parents or your spouse
  • Schedules C, D, E, F for you, your parents or your spouse
  • A completed Verification Worksheet

Those not filing taxes may be required to obtain a 2014 Free Tax Return Transcript to document their non-filing status. IRS Publication 501 provides information on who needs to file. The Office of Financial Aid will ask for additional information regarding your 2014 means of support for which you will use the Resources form. Please notify the Office of Financial Aid if changes are required after your initial FAFSA filing. This will help you obtain earlier financial aid results.