OFFICE OF FINANCIAL AID
Verification uses documentation to confirm that the information provided on a student’s Free Application for Federal Student Aid (FAFSA) is correct. The federal government requires colleges and universities to verify, or confirm, the data reported by students and their parent(s) on the FAFSA. The verification process ensures that eligible students receive all the federal financial aid to which they are entitled and prevents ineligible students from receiving financial aid for which they do not qualify.
For more information, please refer to the respective documentation for independent and dependent students.
Dependent & Independent Verification Process
Financial Aid Basics:
Obtaining Financial Aid Documentation Requests:
Net Price Calculator
The Net Price Calculator is intended to provide a general estimate of your potential financial aid package at Touro College’s campus (location varies). Please understand that completing this estimator does not take the place of actually applying for financial aid at Touro College.
The College may not be held liable for any errors, omissions or damages. The estimated awards provided by this reference tool are based upon the assumption that the student will complete the FAFSA accurately and all other data entered are true at the time of the estimate.
New Pell Grant Lifetime Limit
New federal law limits the amount of Pell Grant funds a student may receive over his or her lifetime to the equivalent of six years (12 full-time semesters) of Pell Grant funding. Since the maximum amount of Pell Grant funding a student can receive each year is equal to 100%, the six-year equivalent is 600%.
Starting mid-July 2012, students will be able to log on to the National Student Loan Data System (NSLDS) to view their Pell usage and/or please reach out to your Financial Aid counselor for clarification. Once you have received a Pell Grant for the equivalent of six years (12 full-time semesters), you will no longer be eligible for additional Pell Grants.
Other Federal Aid Changes Beginning 2012-13
- The U.S. Department of Education recently created an enhancement to the FAFSA filing process by allowing applicants to retrieve tax data directly from the IRS. This new process is called the IRS Data Retrieval Tool. The IRS Data Retrieval Tool will allow student’s tax information to be transferred from the IRS to the FAFSA automatically. We strongly recommend that students select this option when filing their 2012-2013 FAFSA. This option will streamline and expedite the processing of your financial aid.
- If you do not use the IRS Data Retrieval Tool while filing the FAFSA online and your application is selected for Verification, you will need to submit an official Tax Transcript from the IRS. IRS Tax Transcripts can be requested at IRS.gov or by calling 1-800-908-9946. Please note copies of tax return will no longer be accepted.
- Graduate and professional students are no longer eligible to receive subsidized loans.
- Direct Subsidized loans will not be eligible for an interest subsidy during the six-month grace period.