The loan holder, supplier or guarantee agency must print the form on white paper in black ink. The font, the size of the dots and the general display of the form cannot be changed from the attached version. Credit holders and credit providers may use empty spaces at the top, bottom or pages of the barcode coding form or other information specific to the credit holder or service. In addition, loan holders and credit providers can fill out their contact information in the corresponding sections of the form. In Dear Colleague Letter GEN-13-02, we described the process in which a borrower who accidentally exceeded an annual or aggregate credit limit could reclaim Title IV eligibility by confirming the excess amount of the direct loan or FFEL program. Note: The confirmation process can take 4 to 6 weeks depending on who your credit service provider is. It is in your best interest to stay in close contact with your credit service provider through each of these steps. The Office of Management and Budget (OMB) has approved a revised version of the loan confirmation agreement under the control number OMB 1845-0133. The revised version has an expiration date of July 31, 2021. The form is intended for borrowers who have inadvertently received a federal student loan that exceeds the current annual or aggregate loan limit, but who wish to reinstate eligibility for Title IV. 1. Contact their Federal Loan Servicer to repay the full amount of the excess loan.
The confirmation process includes the following steps: Once you have received the confirmation agreement from your federal loan service, you must read the agreement, sign it and return it to your service. Keep a copy for your recordings! Once your Federal Loan Servicer has confirmed that your confirmation agreement has been accepted, you will need to submit a copy of that confirmation with your name and MyColumbia ID to Columbia Central. We will verify the documents and determine your eligibility based on the information provided. Step 4 – The service sends the student confirmation that the confirmation agreement has been accepted. The student or service provides the university with a copy of the confirmation.