Comparing the Accuracy of Estimated Versus Actual Income Data on the Financial Aid Form

Abstract

Historically, the US. Department of Education has held the view that the policies governing verification of student aid application data are most effective when they are established and regulated by the Department. Integrated verification, as a regulatory requirement, seeks to assess true need in the determination of student aid eligibility, but many inefficiencies exist with the current system. Institutions participating in the Quality Control Pilot Project have found that establishing their own verification procedures, unique to their student populations, is more effective than verification regulated by the Department of Education. The authors contend that a verification policy established and maintained by effective and qualified student aid administrators at the institution produces effective and efficient verification results.