INDEPENDENT STUDENT WORKSHEET FOR VERIFICATION FILE REVIEW

+-----------------------+--------------+-------------+---------------+
| # Requi               | Original     | Verified    | Difference    |
| red Verification Item | ISIR         | Data        |               |
+-----------------------+--------------+-------------+---------------+
| Household size        |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Number in college     |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Adjust Gross Income   |              |             |               |
+-----------------------+--------------+-------------+---------------+
| U.S. taxes paid       |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Social Security       |              |             |               |
| benefits\*            |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Child support\*       |              |             |               |
+-----------------------+--------------+-------------+---------------+
| IRA/Keogh             |              |             |               |
| deductions\*          |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Foreign income        |              |             |               |
| exclusion\*           |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Earned Income         |              |             |               |
| Credit\*              |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Interest on tax-free  |              |             |               |
| bonds\*               |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Other\*\*             |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Other\*\*             |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Other\*\*             |              |             |               |
+-----------------------+--------------+-------------+---------------+
| Other\*\*             |              |             |               |
+-----------------------+--------------+-------------+---------------+

**\*= certain untaxed income and benefits. You must also verify all
other untaxed income reported on the U.S. individual income tax
return.**

**\*\* =Other is for a school to identify as an discretionary item that
the institution selects for verification.- ( an institutional
verification policy)**

## Tolerance

There is no tolerance for non-dollar items. If there are changes to
family size or number in college, the ISIR must be corrected.

The tolerance for dollar items cannot exceed \$400. If the net
difference between the original and correct data is more than \$400, the
information must be corrected. To calculate the net difference, first
add the original (uncorrected) AGI and untaxed income amounts. From that
amount, subtract the original U.S. income tax paid to get the
uncorrected total. Then, add the correct AGI and untaxed income amounts
and subtract from that total the correct U.S. income tax paid to get the
corrected total.

[Tolerance equation]{.underline}:

**(Original AGI)+(Original untaxed income and benefits)-(Original U.S.
income tax paid)=(Uncorrected total)**

**(Correct AGI)+(Correct untaxed income and benefits)-(Correct U.S.
income tax paid)=(Corrected total)**

If the difference between the uncorrected total and the corrected total
is \$400 or less (and there are only dollar amount errors) the errors
are within tolerance and recalculation is not required. You do not have
to use the tolerance option - you can always have the student submit
corrections for reprocessing.