Step 3 – The student reads, signs and returns to the Service of confirmation agreement. You must reinstate your eligibility if you wish to qualify for one of your remaining eligibility conditions during the bonus year. If you are not allowed, you cannot get Pell, FSEOG, MAP, FWS, Stafford or MORE loans. (Please note that you cannot reinstate your authorization if you are not entitled to Pell or MAP and have exhausted your Stafford loan authorization.) Probably not. If a consolidated loan has led to an accidental over-indebtedness of a student, no further action is required on the part of the borrower, since the borrower has agreed to repay a possible surplus by signing the consolidation voucher. There are several reasons why your National Student Loan Data System (NSLDS) history indicates that you are accidentally over-credited (over-credited) based on your aggregate or annual credit limit. 2. The lender will send you (the student) the confirmation agreement (copy of the agreement for your verification, the credit service will send you your copy if you contact it). Yes, private loans are not covered by the Federal Direct Loan Program and are not subject to federal credit limits.

You can contact the lender of your choice. (Private Loan Information). Step 1 – Either the institution or the student contacts the service and explains that the student has accidentally overcreated and wants to confirm the debt. If you have received a notification from Columbia Central containing the «Confirmation Request» form, you can fill it out and return it to Columbia Central. Once we have received your signed form, we will begin the confirmation process with your Federal Loan Servicer on your behalf. Contact your federal loan department and ask for the excess credit to be refunded. Your Federal Loan Servicer will give you specific instructions for payment. Once you have repaid the full amount, your federal loan service will send you a confirmation that the amount of the excess credit has been repaid. You must submit a copy of this confirmation with your name and UNM IDENTIFIANT to the UNM Financial Aid Office.

Our office will verify the documents and determine your eligibility based on the date the Federal Loan Service found that you had repaid the excess. If you exceed your aggregate or annual credit limits (you can find these limits at (, you are no longer entitled to any form of financial assistance until they restore your eligibility. A student who re-elected but exceeded his annual credit limit for a university year would not be allowed to obtain additional direct loans for the same academic year, but could obtain other types of grants for the year. You, the student, can obtain additional direct loans for the following academic years if you have the remaining authorization of the lifetime loan limit. 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. The confirmation process includes the following steps: 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.

When a student exceeds his or her annual or lifetime federal credit limits, the student is no longer entitled to any form of financial assistance until he or she restores eligibility. In order to restore their legitimacy, students can either repay the surplus to their loan provider or enter into satisfactory payment agreements.