Documents needed for subsidized loan disbursement - FAFSA verification confusion

Subsidized loans require quite a bit of verification if you're selected for V5. You'll need income verification (which you've done), but V5 also requires identity and educational purpose verification. You'll need to either appear in person at your school with a government-issued photo ID OR get a notarized statement confirming your identity along with a copy of that ID. Also, they'll need a statement of educational purpose (there's a specific form). V5 is the most comprehensive verification group - they basically want everything.

they make u jump thru hoops for EVERYTHING now. i had to do all that plus prove my parents were separated cuz they didnt believe me. took like 6 weeks to get my loan money last semester and i almost got dropped from my classes

What you're experiencing is specifically due to being selected for V5 verification, not standard for all subsidized loans. V5 includes: 1. Tax/income verification (W-2s, tax returns/transcripts) 2. Household size verification (the worksheet) 3. High school completion status (diploma/GED) 4. Identity verification (government ID) 5. Statement of Educational Purpose (signed in person or notarized) The financial aid office should have provided a checklist. These requirements are set by Federal Student Aid, not your school. Once you complete everything correctly, the loan should be processed within 1-2 weeks.

I had to do V5 verification too and it was a nightmare!!! They kept telling me different things every time I called. First they needed my parents tax info (even tho I'm 25????), then they said they had everything, then suddenly they needed my high school transcript. Total disaster and delayed my funds by almost a month.

If you're running out of time, you might want to use Claimyr to get through to an actual FSA agent who can help explain exactly what documents you need. I was in a similar situation with verification last semester and spent days trying to get through on the phone. Used claimyr.com and got connected in like 10 minutes. They have a video showing how it works: https://youtu.be/TbC8dZQWYNQ. The agent was able to tell me exactly what was missing and I got my subsidized loan processed before the deadline.

This is why I HATE the financial aid system!!! My son went through the exact same thing last year and ended up having to take out a private loan at a higher interest rate because the verification process took so long his subsidized loan didn't come through in time. The whole system is designed to make it difficult for students who actually need the money the most. It's absolutely ridiculous that they put these obstacles in place.

Hey everyone! Just wanted to update - I went to the financial aid office in person today and finally got everything straightened out. Turns out I was missing the Statement of Educational Purpose form and proof of high school completion. They said my subsidized loan should be disbursed within 5-7 business days once I get the statement notarized (or I can just sign it in their office). Thanks for all the help!

I went through V5 verification last year and it was such a headache! One tip that really helped me was to scan/photograph everything before submitting it - I had to resubmit my high school transcript twice because they said they "never received it." Also, if you're tight on time, ask your financial aid office if they accept digital signatures on the Statement of Educational Purpose. Some schools do, which can save you a trip to get it notarized. The whole process took about 3 weeks for me once I had all the right documents, so hopefully yours goes faster!