Financial Aid Reaffirmation Agreement

Yes. The Ministry of Education believes that, in your situation, students lost the right to provide financial assistance before the change of status (from student to graduate). Therefore, as a PhD student, you are not entitled to financial aid until the excess amount is repaid or satisfactory agreements are made with your federal service confirming your debts. Note: Columbia Central will only initiate the confirmation process for currently enrolled Columbian students. Step 5 – Accidental over-indebtedness is deemed resolved from the date the service receives the confirmation agreement signed by the student. The Office of Management and Budget (OMB) has approved a revised version of the Credit Confirmation Agreement under control number OMB 1845-0133. The revised version has an expiry date of July 31, 2021. The form is intended for borrowers who have inadvertently obtained a federal student loan that exceeds the current annual or aggregate loan limit, but who wish to re-enter eligibility for Title IV assistance. If a student exceeds their federal annual or lifetime credit limits, the student is no longer entitled to any form of financial assistance until they have restored their entitlement. To restore their eligibility, students can either repay the excess amount to their credit provider or enter into satisfactory payment agreements.

This payment agreement intended to resolve a case of accidental over-indebtedness is called “confirmation again”. If you exceed your aggregate or annual credit limits (these limits are available under (studentaid.ed.gov), you are no longer entitled to any form of financial assistance until they restore your entitlement. After receiving the confirmation agreement from your federal service, you must read, sign and return the agreement to your service. Keep a copy of your file! Once you have received confirmation of your confirmation agreement, you will need to send a copy of that confirmation to Columbia Central, along with your name and MyColumbia ID. We will review the documents and determine your eligibility for assistance based on the information provided. 3. The student reads, signs and returns the stand-by agreement to the credit service provider (the loan service provider will indicate the return address on the agreement). The procedure described in DCL GEN-13-02 and summarized above remains valid. However, the confirmation agreement mentioned above during this process will now be the new standardised confirmation agreement attached to this letter. The Management and Budget Office (OMB) has approved the confirmatory agreement attached under control number OMB 1845-0133 with the expiry date of 30.06.2018. Borrowers, service providers and schools are encouraged to use the attached form immediately and cannot give any further confirmation agreement to borrowers after March 30, 2016.

If you have received a notification from Columbia Central containing the “Reaffirmation Request” form, you can complete it and return it to columbia Central. Once we have received your signed form, we will begin the confirmation process with your federal service on your behalf. We recommend that you admit at least 4-6 weeks for the confirmation process as soon as the application has been launched.. . .