<p>Hello all,
I have completed my Fafsa free of error back in February and also completed all my financial aid tasks on time. I am now on the last step which is disbursement and all of a sudden a new “hold” appears saying:</p>
<p>Hold Disb:Pending ISIR Correct
ISIR Correction
Your Pell award is on hold pending corrections to your financial aid application</p>
<p>So what does this mean? What do I need to do and who is responsible for this correction - the school or me? Note: When I filed my fafsa, it was free of error.</p>
<p>Thank you</p>
<p>I think prior the disburement, the school always run the FAFSA one last time.
If your FAFSA is error-free, their FAFSA will look the same as yours.</p>
<p>Call the school and ask. Did the
School request your tax returns…it IS possible that your FAFSA has an inconsistency with your taxes.</p>
<p>Only the school can really answer your question.</p>
<p>An ISIR correction means the school has found something they think is wrong in you application. It could be something that does not tie in between your tax return and FAFSA (such as IRA/401k contributions appearing on your tax return but not being reported appropriately on FAFSA), or something on your FAFSA that has triggered a flag of some sort (for instance interest rental on your tax return but no asset reported to generate the income). A poster reported something similar the other day - she had trust income on her tax return but had not reported the trust as an asset which triggered an ISIR error report.</p>
<p>The only people that can tell you exactly what the error is is the school. You will need to ask your school.</p>
<p>If there was a correction made to your FAFSA by the school, they had to send it out to the processor. Aid cannot be disbursed until the updated transaction is returned to the school … this can take a few days to more than a week, depending on the time of year & how often the school imports the updated ISIRs into their computer system.</p>