financial aid 1213 verification priority groups … aid – 1213 verification priority groups...
TRANSCRIPT
Financial Aid – 1213 Verification Priority Groups
Presenter: John Nickless, Senior Banner Financial Aid Consultant
BANNER VERIFICATION
DOCUMENTATION FUNCTIONALITY
Add appropriate documents to appropriate students
Don’t miss requesting required information
Don’t ask for unnecessary information
VERIFICATION ITEMS FOR 2011-2012
34 CFR 668.56
1. Household size
2. Number in college
3. Adjusted gross income (AGI) 4. U.S. taxes paid 5. Certain types of untaxed income and benefits:
➔ Child support
➔ IRA/Keogh deductions
➔ Interest on tax-free bonds
6. All other untaxed income included on the U.S. income tax return, excluding information on the schedules
VERIFICATION ITEMS FOR 2012–2013
668.56
See the July 13, 2011, Federal Register
For all applicants:
Household size
Number in college
Supplemental Nutrition Assistance Program (SNAP, formerly food stamps)
Child support paid
For non-tax filers:
Income earned from work
For tax filers:
Adjusted gross income (AGI)
U.S. income tax paid
Education credits
Untaxed IRA distributions
Untaxed pensions
IRA deductions
Tax-exempt interest
VERIFICATION ITEMS FOR 2013–2014
668.56
See the July 12, 2012, Federal Register
Adjusted gross income (AGI)
U.S. income tax paid
Education credits
Untaxed IRA distributions
Untaxed pensions
IRA deductions and payments
Tax-exempt interest
Income earned from work
Household size
Number in college
Supplemental Nutrition AssistanceProgram (SNAP, formerly food stamps)
Child support paid
High school completion status
Identity/statement of educational purpose
2013-2014 VERIFICATION PRIORITY
GROUPS
5 Priority Groups
Not all items are applicable or appropriate for every student
STANDARD VERIFICATION GROUP.
TRACKING FLAG V1
Students in this group must verify the following if they are tax filers:
adjusted gross income
U.S. income tax paid
untaxed portions of IRA distributions
untaxed portions of pensions
IRA deductions and payments
tax-exempt interest income
education credits
household size
number in college
Supplemental Nutrition Assistance Program (SNAP) benefits
child support paid
Students who are not tax filers must verify the following:
income earned from work
household size
number in college
SNAP benefits
child support paid
SNAP VERIFICATION GROUP
TRACKING FLAG V2
Students in this group must verify the receipt of SNAP benefits.
CHILD SUPPORT PAID VERIFICATION
GROUP. TRACKING FLAG V3
Students must verify child support paid by them or their spouse, their parents, or both
CUSTOM VERIFICATION GROUP.
TRACKING FLAG V4
Students must verify high school completion status and identity/statement of educational purpose in addition to receipt of SNAP benefits and payment of child support
AGGREGATE VERIFICATION GROUP
TRACKING FLAG V5
Students must verify high school completion status and identity/statement of educational purpose in addition to the items in the Standard Verification Group
TRACKING GROUPS VS. BATCH POSTING
VS. BLEND
Documents posted to RRAAREQ two ways:
RRRGREQ
Posts documents based on Tracking Group assignment
RORPOST
Posts documents based on sub-group selection (Population Selection)
BENEFITS OF RRRGREQ
Documents are posted to multiple groups based on a single pop sel
Documents are added or removed from RRAAREQ if student moves from one Tracking Group to another
DRAWBACKS OF RRRGREQ
Creation of an exponential number of Tracking Groups (V1-V5, Independent-Dependent, IRS matching status, etc.)
BENEFITS OF RORPOST
Selection of students by document
Fewer Tracking Groups
DRAWBACK OF RORPOST
Documents will not “un-post” if student changes Tracking Group
Additional GLBDATA runs for each dataload
MAXIMIZE THE BENEFITS, MINIMIZE THE
DRAWBACKS
V2, V3 and V4 do not require Income Tax information, therefore are not differentiated by Dependent/Independent or IRS matching status
V1 and V5 are virtually identical with the addition of high school completion status and verification of identity/statement of educational purpose for V5
POSSIBLE SOLUTION
Creation of Tracking Groups for priority V2, V3 and V4, attaching the appropriate documents in RRRGREQ
Allow V1 and V5 to fall into existing Verification Tracking Groups, and batch posting the additional documents to V5 on RORPOST
This requires 3 new tracking groups and 2 new RORPOST rules
Discussion Time
Thank you!!!