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Financial Aid and Scholarship Links

Visit these related links:

>Federal Student Aid
>College Foundation of NC
>Loans for College
>Fastweb
>Christian Service Application
>CU Scholarships & Grants
>NC Baptist Scholarship Program

FAFSA Simplification Tutorial

Eight Easy Steps to the FAFSA: A Student's Guide to the Free Application for Federal Student Aid:

>Click here

Loan Repayment Calculator

Calculate for lower monthly loan payments:

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Apply for Financial Aid:
2014 - 2015 Verification Process

 

What is verification?
The Federal Government randomly selects certain FAFSAs (Free Application for Federal Student Aid) for verification. Schools must collect certain tax data, and verification of untaxed income such as child support, food stamps, military and/or clergy benefits and other information. The school will compare the FAFSA and collected data, and correct any errors on the FAFSA.

How am I notified that I am selected for verification?
We will send information to the address you provided on your FAFSA if you have been selected. You will not receive an award notification until after you have completed the verification process.

What if I used the IRS Data Retrieval Tool (DRT)?
We encourage students and parents to use the DRT to complete the FAFSA and update their tax information. If you used the DRT and did not change the imported data from the IRS, in most cases, we will not need your federal tax return. If we feel there is conflicting information, we may ask that you request a tax return transcript from the IRS.

How do I request my tax return transcript?
If we request a copy of your tax return (or your parents tax return) you must request a “Tax Return Transcript” from the IRS. We are unable to accept paper tax returns for the 2013-2014 school year.

How to Link your IRS Tax Data to your FAFSA
For an instructional video, please visit the following link:
http://youtu.be/bsATmiSRcl4

 

IRS Tax Transcript Request Process

Tax filers can request transcripts, free of charge for their 2013 tax return from the IRS in one of four ways.

  1. IRS Data Retrieval Tool (DRT): *Preferred Method*
    • See below for step by step instructions
  1. On Demand (Online):

    • On www.irs.gov select “Get Transcript of Your Tax Records”, and then select “Get Transcript Online.”

      Obtaining a Transcript of Your Tax Records Online


      • Create an account and then the IRS will ask for your name and email address. In order to proceed, they will email you a confirmation code that you must enter.
      • You will then be prompted for your social security number, date of birth, tax filing status, street address, and zip code.
      • You will then be asked a series of questions that apply ONLY to the person whose data was entered. These questions are to assist in confirming your identity.

    • Once you have passed the security questions, you will be on the page that allows you to choose the type of document you wish to print.
      • Select the reason for the request as “Higher Education/Student Aid”
      • It will then prompt you to select the “Return Transcript” for 2013.
      • You can also choose to print the W-2 detail report (Wage& Income Transcript) that you provided to the IRS.

        *Please note that this will only pull the W-2 for the person whose data was entered. If another parent was on the tax return, and you need that person’s W-2, you will have to start over and use that person’s information to log in. The same email address can be used for multiple accounts.
  1. Telephone Request:

    • Call the IRS directly at 1-800-908-9946.
    • Follow prompts to enter your social security number, and street address.
    • Select Option 2 for Tax Return Transcript, and enter year 2013.

      *You should receive a statement of confirmation such as “Please allow 5-10 days to receive it. The transcript will be sent to the address they have on file for you.
  1. Local IRS Office:

    • Contact/Visit your local IRS office.
    • On www.irs.gov, select “Contact Your Local IRS Office” in the bottom grey area on the main page.

      Contact Your Local IRS

**Once you receive your tax return transcript by using Step 2, 3, or 4; please send it to the Financial Aid Office. **

Mail to:
One University Place
Murfreesboro, NC 27855


or Fax to: (252)398-6513

 

Step by Step Instructions for IRS Data Retrieval Tool
---PREFERRED METHOD

  1. Go on to the FAFSA website (WWW.FAFSA.GOV). Select to login, enter requested data.
  2. On the 2014-15 FAFSA, select “Make FAFSA Corrections.”

    Enter FAFSA Data

  3. Enter your pin and password.
  4. Then select the “Financial Information” tab.

    Financial Information Tab
  1. After you select “Already Completed” as your filing status, you must be able to answer “No” to the filtering questions regarding amended returns, foreign returns, and filing electronically within the last 3 weeks or by mail within the last 8 weeks.

    Regarding Amended Returns

  2. You will then be required to enter the PIN of the person whose tax information you will be transfering.
  3. Select “Link to IRS”.



  4. You will then be notified that you are leaving the FAFSA website, select OK.
  5. Once on the IRS website, enter all the information it asks.
    *ENTER EVERYTHING EXACTLY THE WAY IT IS ON THE TAX RETURN, ESPECIALLY THE ADDRESS.*
  6. If the IRS validates your identification, your IRS tax information will be displayed. Select “Transfer My Tax Information Into the FAFSA”, then “Submit.”

    Transfer My Tax Information

  7. DO NOT STOP YET!
  8. You will then be directed back to the FAFSA website. You must continue through the submission of the correction.
  9. Follow the same steps for the student or parent, if needing to link their tax information.
  10. Once you have transferred all the necessary tax information, proceed to “Sign & Submit.” Both student and parent must enter their PIN and submit, if changes were made to both sections.
  11. A “Confirmation Page” will signify the completion and submission of your corrections; print this page for your records.

    The Confirmation Page

**Please note that once the FAFSA is submitted, it takes 3-5 business days for the Federal Processor to report it to the school.**

 

How do I submit my information for verification?
We prefer that all information be faxed to us at 252-398-6513. Please call us at 252-398-1229 or 1-888-4-CHOWAN to confirm receipt of your fax.

Requested documents may also be mailed to:

Chowan University
Financial Aid Office
One University Place
Murfreesboro, NC 27855

**Please remember to include the students
name on all correspondence.
**

Deadlines for Verification

  • New Students for Fall 2014 enrollment - May 15, 2014
  • Continuing students for Fall 2014 enrollment - April 30, 2014

Failure to meet the verification deadlines may result in certain types of aid not being offered. In addition, delays in sending documentation may result in the student not having aid by the time their bills are due each semester. In this case, the student is obligated to pay the account balance on the student account, or their classes could be canceled.

Average Timeline for Verification

Month of Submission Timeframe for mail / fax processing Timeframe for FA Office to complete verification** Total Processing Time Season
January - March 1 week 1 week 2 weeks Non-Peak
April - June 1 week 2 weeks 3 weeks Peak
July - September 1 week 2 weeks 3 weeks Peak
October - December 1 week 1 week 2 weeks Non-Peak

**Please note that this timeline assumes that all requested information is complete prior to being submitted to the FA office. ** 

Once verification has been completed, an official award letter will be sent to the students home address provided on the FAFSA.

Additional Questions?
If you have any questions please feel free to contact the Financial Aid Office at 252-398-1229 or 1-888-4-CHOWAN. You may also email us at finaid@chowan.edu.  



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