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General Questions

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General Questions

What happens once I submit my FAFSA?

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Once you submit your FAFSA, the data will be sent to the Department of Education (DOE) for processing. DOE processing usually takes 3-5 business days. The processed data will be forwarded to ORU. If additional items are needed to complete your Financial Aid file (e.g. verification documents), the file completion requirements will be listed on Vision. Once your Financial Aid file is complete, a Financial Aid package will be generated. Note that if you are a new student, verification requirements will not prevent you from receiving your Financial Aid package; however, your Financial Aid package may change when verification is completed.

What were the corrections made to my FAFSA application?

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Corrections may have been made to your FAFSA to correct discrepancies between the information you reported on your FAFSA and the information that we received from you on your verification documents.

For example, if you reported on the FAFSA that you did not have income for a particular tax year, but you submitted a tax return or W-2 that indicates you did have income, we have corrected your FAFSA to reflect the income you earned. Such changes can affect your eligibility for aid.

Where do I get a tax transcript?

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Call the Internal Revenue Service (IRS) at 1-800-829-1040 to request a “tax return transcript.” You can also order them online at www.irs.gov or you can schedule an appointment at a local IRS office by calling 844-545-5640 to obtain a copy in person.

I lost my W2s. What can I do?

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Call the Internal Revenue Service (IRS) at 1-800-829-1040 to request a “wage summary.” You can also visit a local IRS office and ask for a copy.

What if my parents or I had to amend my taxes?

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For amendments, we require a copy of the Federal Tax Return Transcript. Once the amended information has been processed, we require a copy of the Federal Tax Account Transcript.
Both of these can be ordered by calling the Internal Revenue Service (IRS) at 1-800-829-1040, ordering them online at www.irs.gov, or visiting your local IRS tax office and asking for a copy.

How long does it take to process my file?

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Financial aid packages are generated weekly, beginning March 1, for the upcoming school year. Once your Financial Aid file is complete, your award will be available on Vision, within one week. If you are a new student, your award letter will also be mailed to you.

How often do you download ISIR(FAFSA) files?

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FAFSA transaction files are sent to ORU once a day, every business day.  We download them to our system every morning the office is open.

What is the difference between a dependent an an independent student?

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If you are a dependent student, you must report income and asset information for yourself and your custodial parent(s) on the FAFSA. If you are independent, you must report income and asset information for yourself and your spouse, if you’re married.

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