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2020-2021 VERIFICATION

Generate an image showing a student reviewing financial aid documents at a desk, surrounded by IRS forms, a laptop, and school items, in a modern and bright environment.

2020-2021 FAFSA Verification Quiz

Test your knowledge on the verification process for the 2020-2021 FAFSA. This quiz is designed for students, educators, and anyone interested in understanding the essential details related to financial aid verification.

In this quiz, you will learn:

Key IRS codes and their implications
How students can request tax transcripts
The importance of verification for financial aid

12 Questions3 MinutesCreated by LearningTree391

Email:

Which tax year should be used on the 2020-2021 FAFSA?

2017

2019

2018

2016

Which tracking code has NOT been added to RRAAREQ?

Students are encouraged to submit documents on campus.

True

False

Name three ways students/parents can obtain their IRS tax transcripts.

1040s can be accepted if parents refuse to request their IRS transcripts

True

False

Verification of non-filing status is required from dependent students who have earned zero income

True

False

Which IRS data retrieval code matches this statement, "Student was presented with the option to use IRS data retrieval tool but did not elect to do so".

Which IRS data retrieval codes indicate changes were made to the original data transferred and may now require verification

Low income statements are required for independent students and parents who indicate they did or will not file taxes

True

False

What is the unique four digit student identifier that allows schools to access a student's FAFSA record if the school is not listed on the FAFSA

FSA ID

DRN

Income filing requirements have increased to $20,000

True

False

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