To meet program management responsibilities for financial assistance programs, Loyola must verify the accuracy of the applications of selected new and continuing financial assistance recipients. The selection of students within this program is made by the Department of Education through the FAFSA.
If a student has been selected for verification Loyola University Chicago, a request will be made to submit a verification worksheet along with specific tax and income documents. ***While the IRS Data Retrieval Tool is unavailable on the FAFSA, families are encouraged to enter the information manually and then order a Tax Return Transcript from www.irs.gov. ***
To view any documents you may be required to submit, log into LOCUS and view your To-Do List in the Student Center. All verification forms can also be found on our forms page. Verification forms must be submitted 3 weeks prior to the end of the term.
In order to provide Estimates of Financial Aid Eligibility to students in an expedient manner, awards are calculated based on the original FAFSA data, and mailed before the verification process is complete. If corrections are needed as a result of the verification process, eligibility will be recalculated and awards may be revised. For this reason, student and parent information should be as accurate as possible on the FAFSA.
Verification is complete when Loyola University Chicago has all the requested documentation. If a student fails to provide the required documentation, Loyola University Chicago cannot:
- disburse any federal, state, or institutional grants
- disburse Federal Perkins, Federal Stafford or Federal PLUS Loan funds
- hire or continue a student’s employment in a FWS job
All documents submitted to the Financial Aid Office at Loyola University Chicago are only reviewed by authorized staff in the office. All documents are scanned and the images saved in an encrypted database. The original documents submitted to the office are shredded to maintain security of the information. Safeguards in place are designed to insure the security and confidentiality of customer information, protect against any anticipated threats or hazards to the security or integrity of such information, and protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to any customer.