IRS Data Retrieval Tool
Nationwide, college financial aid offices and their students are being impacted by the current outage of the IRS Data Retrieval Tool. The outage, now expected to continue until the start of next FAFSA season, was in response to security concerns. It has now been reported that there is a confirmed security breach in which the personal information of up to 100,000 financial aid applicants may have been hacked. While the Department is working to notify affected applicants, both NASFAA and the National Governor’s Association are urging the Department to resolve the outage and mitigate the effects of this outage on students and their families.
As enrollment pressures mount, so does the pressure that Financial Aid Offices are under to complete verification and file preview in order to provide comprehensive financial aid packages, as well as enhanced advising to both current and prospective students. The inability to utilize the DRT tool has become another hurdle for administrators and students alike to overcome in the process to obtain financial aid. As an administrator, it is important to educate your students and families, that although DRT is not an option, it is not the only option for completing the application for federal student aid. Spending additional time advising, as well as providing flexibility to deadlines for submitting documents will certainly provide students with peace of mind in navigating the process.
Assisting Financial Aid Offices
As the financial aid staff continues balancing the competing demands of student services, please keep in mind, HEAG offers a number of third-party services to assist institutions during this unique period:
- VERIFY(SM) – HEAG’s premier remote verification service.
- Onsite and remote assistance with file review, awarding, and loan processing.
- Automation of your school-based software.
Our consultants have experience with all financial aid management systems such as Banner, Datatel, PowerFAIDS, and Department of Education software, to name a few. Likewise, they are equipped to support your office onsite, or remotely.