What must a Federal Student Aid applicant do in order to regain Title IV eligibility if he or she defaulted on a FFEL Program loan that was subsequently written off partially or in full?
A. The applicant must reaffirm the written off FFEL Program loan before he or she regains eligibility to receive additional Federal Student Aid. Reaffirmation is the borrower’s legally binding acknowledgement of a loan that has been totally or partially written off and agreement to the reinstatement of his or her repayment obligation on the loan. The borrower must contact the holder of the loan that was written off in order to initiate the reaffirmation process. Before certifying additional Title IV aid for such an individual, the school should request that the applicant provide the school with documentation from the loan’s holder that confirms the reaffirmation. Source: Federal Student Aid Handbook, Volume 1 – Student Eligibility, p. 1-49 and 1-51; Integrated Common Manual section 5.3.
