2023-2024 Verification Process

To simplify and streamline the verification process, the Department of Education has implemented a “Prior-Prior Year” (PPY) policy. With PPY, the income reported on the FAFSA will be from “two years prior” to the application year for the 2023-2024 award year.  That will be tax data from your 2021 Tax Return. We highly encourage parents and students to utilize the IRS Data Retrieval Tool (DRT) inside the FAFSA. This will import tax data and significantly decrease the possibility of errors.

By using earlier income data, families will have their completed tax information available by the time they are ready to apply for financial aid. This will make it easier to fill in application forms, and increase the likelihood that families will be able to import their 2021 income directly from the IRS using the online Data Retrieval Tool (DRT).

The University of Oklahoma abides by state and federal regulations by performing federal verification on selected students by requesting documentation for the data items required to be verified. If you are selected for verification, you will need to provide the specific documentation requested in one.ou.edu based on the academic year.

The FAFSA is available on Oct. 1, allowing applicants to use their federal income taxes two years before the upcoming school year. Example:

Academic Year 2023-2024
If you plan to attend college from July 1, 2023-June 30, 2024, submit the FAFSA from October 1, 2022-June 30, 2023, using your federal tax information from 2021. 

• The FAFSA opens on October 1, 2022 and the Federal IRS Data Retrieval Tool is available.
• Students are notified after they have been admitted that they are required to submit additional documentation for verification.
• After all requested verification documents are submitted, review can take 10-14 business days. During our peak times, this process can be delayed further.  

The importance of completing the verification process is that OU cannot confirm or award federal and institutional funds until it is complete. After a student is admitted the OU Student Financial Center will send students a document called an OU-FAN (Financial Aid Notification) that details the cost of attendance, what federal funds are being received, what institutional funds are being received, and what the projected out-of-pocket cost is for a student on an annual basis. This document cannot be sent to a student until the verification process is complete. 

If a student is selected for FAFSA verification, the student will need to visit the SFC Verification Portal at ou.proed.org to sign in with your OU NetID and password and submit the requested documents as soon as possible. You can also view the missing documents at one.ou.edu under the Financial Aid section of the Financial tab.  

Once the student has submitted all required documents, OU will review and verify the details listed on the FAFSA. Keep in mind that the verification process could take about one week and additional information may be requested. It’s a good idea to watch your OU email and the SFC Verification Portal for updates. Once the verification process is complete, OU will provide you with an OU Financial Aid Notification that will explain your financial aid offers.

The easiest and most effective way of providing the Federal Tax Return Transcript data is by using the Federal IRS Data Retrieval Tool (DRT), which allows you to download 2021 Federal Tax information directly to the FAFSA from the IRS. This process cuts down on the potential for errors and may reduce the amount of documentation that the Student Financial Center needs to request.

How to use the IRS DRT:

1. Log into the FAFSA using the student’s FSA ID and Password.
2. Select “Make FAFSA Correction”.
3. Click on the “Financial Information” tab. For dependent students, FAFSA first displays the “Parent Financial Information” screen. Select “already completed” from the drop down box.
4. Determine if the IRS DRT can be used. If parent/student is eligible to use the IRS DRT, enter the parent/student FSA ID and Password and link to IRS. The student will be notified that they are leaving FAFSA on the web. Click “OK” to continue.
5. Enter requested information EXACTLY as it appears on the filed tax return (tax filing status and address information). Click “Submit”. If the IRS is able to validate the student/parent’s identification, the Federal Income Tax Information will display. Select the “Transfer My Tax Information into the FAFSA” checkbox, and then click the “Transfer Now” button. The student will then be re-directed to the FAFSA. If a dependent student filed a tax return, select “already complete” and repeat the process from step 4 to use the IRS DRT.
6. Once completed, do not change any data transferred from the IRS. Continue to the “Sign & Submit” tab to fully process corrections and re-submit the FAFSA.
7. Corrected FAFSA results will be sent to all schools indicated. The successful use of the IRS DRT will expedite the verification review process and may alleviate the requirement for additional tax information.

To submit verification documents for the 2023-2024 academic year, students will visit ou.proed.org and log in with their OU NetID and password. You can also view the missing documents at one.ou.edu under the Financial Aid section of the Financial tab.

Most verification documents will be submitted directly through the SFC Verification Portal and will not be collected by the Student Financial Center. There will be an indicator on the requested form if it can be mailed, faxed, or delivered to the SFC.  Please contact our office if you have questions regarding the submission of any verification documents. 405-325-9000 or sfc@ou.edu

After all of the requested documentation has been submitted, reviewed, and verified by the OU Financial Aid Verification Team, students will be eligible to receive their OU-Financial Aid Notification which will detail the costs and financial aid options available to them.