No, its not too late. My D was submitting additional stuff and sending in corrections as late as last week. As to verification, it depends on the school. For most, you'll get a "tentative" aid letter which will be confirmed once you provide what ever verification they request. Some, though ( I'm thinking of Goucher and Centre)are more hard nosed about it and will not send out ANY letter until through verification. As my 2009 taxes would not be completed before May 1, this was a deal breaker. Goucher eventually gave a tentative aid award based on my 2008 tax return, but the package was the worst of the 11 my D got, by $9000, so I am guessing D was penalized for me not filing taxes early.