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New York Film Academy
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New York Film Academy Financial Aid

Verification Process

A student's application for federal financial aid may be selected for review in the Federal Verification process. The law says we have the right to ask you for financial information and other information, as it applies to your application, before awarding Federal aid.

The Federal Verification process is a random selection process. It is usually a more in depth review of the student's application data, as set according to the Department of Education (DOE) Student Aid Handbook.

Application Review
The verification process requires that information from the student's application be compared with copies of the student's, spouse's (if married) and parent's (if dependent) federal tax form, or financial documents. Other documentation may be required as it applies to the information on the application. Notification to students is sent via e-mail (NYFA e-mail account) stating that there are outstanding requirements.

All students selected for verification must also submit a Verification Worksheet. Please do not complete these forms unless you have been instructed to do so. Forms are PDF documents and need to be printed, completed, and mailed to the Financial Aid Office.

Data Corrections
The school will make all corrections to the application based on the information supplied. Once the corrections are completed the application data may have to be transmitted to FAFSA for processing. It will then be necessary to wait for the corrected application to be transmitted back to the school. Allow 10 business days for the verification review process and an additional 5 business days if corrections have to be made and transmitted. Once the verification process is completed the student will be awarded within 5 business days.

Overpayments and Overawards
An overpayment or overaward situation occurs when it is discovered that a student received more than the amount for which he or she was eligible under the Federal Pell Grant, FSEOG, Federal Work study, Federal Perkins and Federal Direct Loan programs. The student is notified of the situation by letter. It may result in the case being reported to the DOE and if required funds will be returned. The overpayment or overaward will be reported to the National Student Loan Data System (NSLDS) until it is resolved.

Deadlines
All required documents should be submitted to the Financial Aid Office no later than 10 business days from the initial date of request. Delay in submitting all required documents will cause a delay in awarding of financial aid. Students are expected to apply for aid and complete the verification process before the term has ended. Otherwise, the student is in jeopardy of not receiving any Federal aid for their period of enrollment. A Pell Grant applicant must complete the entire process before the Pell Grant Program deadline in September or 120 days after the last day of the student's enrollment which ever is earlier. If the process is not complete the student is not eligible for Pell for that award year. Students who have not completed the verification process within the required period will receive a letter of explanation.

New York Film Academy Disclaimer
New York Film Academy Disclaimer