<p>The particular college uses FAFSA and Verification for determining aid.</p>
<p>Not only can they, they will, and if not provided there will not be any financial aid.</p>
<p>I’m not really understanding what you are saying… Can a college ask for you to prove your need for it to give out the school’s own money? Of course they can! This is the college’s own money that they don’t have to give to you, so I’d jump through any hoop they ask you to!</p>
<p>Is this information in addition to the tax info obtained Through the IRS data retrieval process?</p>
<p>Yes, they can ask for any of your financial information including bank accounts and other financial info. Yes, if you have a business, they can ask for the paperwork.</p>
<p>my DD college required us to submit 1) Business Owner,Partner/Self Employed supplement forms. 2) all schedule on tax. Along with FAFSA Link to IRS. It’s a lot of paper work to be sent, but we all have to do as ask on or before the deadline if we want the Aid.</p>
<p>If you have less than the employees required to report the buiness as an asset it seems to me that they still could ask for any information necessary to verify your income stream.</p>
<p>Any time you are asking for money, the lender can request any financial information. If your refuse, it can impact the decision. You can, of course, refuse.</p>
<p>With federal loans, you can be asked by the US government even after the fact to reveal info if they want to see if there are fraud issues. It can be a serious crime if that is the case.</p>
<p>Yes. It would be.</p>
<p>If you’re applying to an IDOC school, get ready to report the same information about your business six ways from Sunday. Of course, you don’t have to report any of this - if you don’t want the money.</p>
<p>If you are asking for aid, they can ask anything they want to.</p>