If a student is selected for verification by the Department of Education through the FAFSA, certain documents must be obtained to ensure that the information provided on the FAFSA is accurate. Student and parents are encouraged to use the Data Retrieval Tool on the FAFSA in order to verify the tax information directly from the IRS. This will reduce the chances of being selected for verification or if selected, it will greatly reduce the amount of documentation needed.
If you are selected for verification, an item will appear on your to-do list within the Tasks tile in LOCUS. you will be directed to create an account through our partner Inceptia to submit requested documentation. Verification must be completed by the end of the academic year (or last term enrolled) in order to qualify for financial aid.
In order to provide estimates of financial aid eligibility to students before verification has been completed, awards are calculated based on the original FAFSA data. 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.
If a student fails to provide the required documentation, Loyola University Chicago cannot:
- disburse any federal, state, or institutional grants
- disburse and federal loans such as the Stafford or PLUS Loan funds
- hire or continue a student’s employment in a FWS job
All documents submitted are only reviewed by authorized staff. All documents are scanned and the images saved in an encrypted database. Any 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.