Franklin & Marshall College Franklin & Marshall College

Taxes and Documents

Gather All $$$ Documents and File Income Tax Returns Early

The information that families use to complete their financial aid applications is much the same as the information that they submit to the federal government on their federal tax returns.  In order to be sure that information is submitted in good faith, the College cross references a family's reported federal tax information with information that they submit on the FAFSA and the Profile.  This process is officially known as Verification and is a required procedure of all colleges and universities that provide federal student aid to their students. 

Students receiving federal aid are randomly selected for Verification by the federal government.  However, the College reserves the right to verify up to 100% of those students.  If a student is selected for Federal Verification, the family will be asked to submit additional forms, tax returns, W-2s, and other federally reported financial documents. 

At Franklin & Marshall, all first-year students undergo Verification.  Families of entering first-year should submit all Federal income tax documents and verification forms.  Returning students should only submit taxes and verification documents if instructed to do so.

This system of correspondence is a checks and balances process that we must do in order to be sure that all eligible students are receiving financial aid approrpriately and equitably. 

Families who wish to be proactive in this stage of the process should complete their yearly income tax forms as early as possible, prepare copies of all federal and personal financial information, and be ready to submit them upon request.