Why is my fafsa being reviewed

That kind of aid is offered on a first-come, first-served basis, so waiting to send in your verification materials until the last minute might mean losing out on such aid and needing more in student loans to close the gap. That means future federal loan offers may be smaller to compensate. If your EFC decreases: Your school is required to give you any additional federal aid you are eligible for. Temporary changes for award year.

What's next if you're selected for verification? Gather your documents. Tax information. The number of people in your house and the number in college. Child support. High school completion status. The U. Industry data shows that Pell Grant recipients are three times more likely to be selected for verification than non-recipients, especially if they qualify for the maximum Pell Grant.

Structurally, the verification process requires parents to provide documentation corresponding to data elements on the FAFSA. Look for the asterisk. The mission is to provide the correct financial documents requested by the college as soon as possible — that should be the focus.

For students, verification delays make it more difficult to compare offers and figure out which schools are a good financial fit. Delays may also cause you to miss out on valuable aid. There's no way to completely dodge the risk of being selected for verification.

Some people are selected at random, and some schools typically smaller colleges that give out a lot of aid from their own endowments verify percent of people who apply for aid. Still, there are ways to lower your chances, as well as streamline the process. Here's what to do:. Make sure the information you provide is consistent throughout the application. Stay on top of communications. You will also get an email notification from each school that accepts you, not the Department of Education.

Prepare your paperwork. Even if your odds of being audited are low, it makes sense to have your supporting documents organized ahead of time. That includes ordering a tax transcript , which will include additional information you file with your tax return, such as a schedule listing certain incomes and deductions.

Respond quickly. Schools have tight deadlines for delivering this documentation—if you miss that deadline, you may not get any federal financial aid. Every school has a different verification process, so check your student portal online to find out what you'll need to provide.

Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities.

Performance information may have changed since the time of publication. Past performance is not indicative of future results.

Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. Kat Tretina Contributor. Alicia Hahn Editor. The Forbes Advisor editorial team is independent and objective.

To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. This compensation comes from two main sources. First , we provide paid placements to advertisers to present their offers. This site does not include all companies or products available within the market. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor.