[Code of Federal Regulations]
[Title 34, Volume 3]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR668.53]

[Page 475-476]
 
                           TITLE 34--EDUCATION
 
                         DEPARTMENT OF EDUCATION
 
PART 668--STUDENT ASSISTANCE GENERAL PROVISIONS--Table of Contents
 
     Subpart E--Verification of Student Aid Application Information
 
Sec. 668.53  Policies and procedures.

    (a) An institution shall establish and use written policies and 
procedures for verifying information contained in a student aid 
application in accordance with the provisions of this subpart. These 
policies and procedures must include--

[[Page 476]]

    (1) The time period within which an applicant shall provide the 
documentation;
    (2) The consequences of an applicant's failure to provide required 
documentation within the specified time period;
    (3) The method by which the institution notifies an applicant of the 
results of verification if, as a result of verification, the applicant's 
EFC changes and results in a change in the applicant's award or loan;
    (4) The procedures the institution requires an applicant to follow 
to correct application information determined to be in error; and
    (5) The procedures for making referrals under Sec. 668.16.
    (b) The institution's procedures must provide that it shall furnish, 
in a timely manner, to each applicant selected for verification a clear 
explanation of--
    (1) The documentation needed to satisfy the verification 
requirements; and
    (2) The applicant's responsibilities with respect to the 
verification of application information, including the deadlines for 
completing any actions required under this subpart and the consequences 
of failing to complete any required action.

(Approved by the Office of Management and Budget under Control Number 
1840-0570)

(Authority: 20 U.S.C. 1094)

[56 FR 61337, Dec. 2, 1991, as amended at 59 FR 61206, Nov. 29, 1994]