Federal School Code: 003425
Verification and Disbursement
   
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Verification is the process mandated by the U.S. Department of Education to ensure accuracy of the data submitted by applicants for federal financial aid. The Office of Student Financial Aid is charged with the responsibility of requesting various documents needed to verify the applicant's financial information, such as the federal income tax return. Applicants who file their taxes electronically should note that the electronic filing form IRS 8453 is not a valid tax return for verification. If a copy of a completed tax return is not available, parents or students can request their tax account information (a "tax summary") from the IRS by calling 1-800-829-1040.

After all requested documents have been submitted, the verification process takes up to eight weeks to complete. The Office of Student Financial Aid must resolve any conflicting information by sending the student additional correspondence that must be signed and returned. To avoid this type of delay, students and parents should read and follow all directions carefully when completing the application for aid. If a Verification Worksheet is sent to a student and any responses listed differ from the FAFSA, the additional information should be explained in writing. To prevent processing delays, all forms must be signed.

It is important to note that a student cannot receive any federal aid until the verification process has been completed. The deadline for submitting verification information is 60 days prior to the end of the period of enrollment for which financial aid is requested.

NOTIFICATION AND DISBURSEMENT OF FINANCIAL AID AWARDS

Evaluation of the student's application begins shortly after the deadline dates listed here. Award notifications for scholarships are finalized by May 1. Only those students who are awarded University scholarships will be notified by mail (or email) of selection decisions.

Contingent upon notification of funding from the U.S. Department of Education, award notifications for campus-based aid will be mailed by July 1. Federal Pell Grant and Federal Stafford Loan awards are made after they have been processed, which usually takes a minimum of eight weeks. Awards may be significantly delayed for students selected for verification. A student must be accepted for admission before aid will be processed or awarded.

When financial aid is awarded, credits for the amounts awarded are posted to the students' financial records. In mid-July, students are billed online for all semester charges less all credits posted to their financial record as of that date. Aid may be awarded after the advance bills are computed; if so, it will be credited to the students' online accounts.

If credits exceed charges for fees, a refund will be made. The first refunds are available by direct deposit on the first day of class for full-time students. Refunds may have to be paid back immediately if charges or financial aid are affected by changes to course load, housing or meal plans. Student loans that are not electronically transferred must be endorsed and Federal Perkins Loan promissory notes must be signed prior to the disbursement of a refund.

Students can place funds in a TigerStripe declining balance account to use excess aid to purchase books or meals on campus before refunds are issued. A TigerStripe account can be opened during the advance payment process or on late registration day. Refunds usually are available each Friday for aid posted through the previous Friday.

Many college students receiving financial aid are handling large sums of money and establishing credit histories for the first time. The acceptance of federal aid or scholarships brings the responsibility of managing these funds wisely. Students receiving financial aid, particularly off-campus residents, may receive substantial refunds to pay for living expenses. Students must take precautions to protect themselves and their money. Dependent students are encouraged to notify their parents of their refunds and to discuss money management strategies. Students should not make themselves targets by letting others know about their refund, or carrying large sums of cash. For convenience and safety of students, direct deposit is available through the Office of Revenue and Receivables, and a full-service bank is located in the Hendrix Student Center.

Students must pay tuition and fees during the advance payment period to prevent the cancellation of their preregistered classes. Signing a financial aid award letter or loan promissory note does not satisfy University fees, even if the financial aid equals or exceeds all charges. Students must satisfy charges and confirm enrollment through TigerWeb or TigerLine ("FEES" option) by, using their numeric password or PIN. All University charges must be satisfied by late registration to prevent subsequent cancellation of classes. Any questions regarding fees or direct deposit arrangements can be answered by the Office of Revenue and Receivables at (864) 656-5592 or www.clemson.edu/receivables.

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