The Office of Student Financial Assistance has the authority to verify information concerning applicants and recipients for the purpose of administering this program. At the request of OSFA, schools are required to verify the following using federal standards: Taxable and nontaxable income of student and parents (if a dependent student); Enrollment status (undergraduate or graduate); Dependency status; and Transaction number of ISIR used. Schools shall provide updated and verified data to OSFA by the date established each year. Information verified by the institutions will be used to update OSFA records. Awards for students with corrections and errors shall be recalculated and adjusted as specified in Regulation .05 of this chapter or canceled accordingly. Each semester, eligible institutions shall certify on billing rosters provided by the Office of Student Financial Assistance that the recipient is: A Maryland resident; Enrolled for 12 or more hours as a degree-seeking undergraduate student; and Making satisfactory academic progress toward a degree.