Publication Date: October 2006
Bulletin ID: DLB-06-09
Summary: Updated Guidance on Making Refunds of Cash
Posted on 10-12-2006
This bulletin updates and summarizes the correct process for making a refund of cash (i.e., returning unused funds) to the Department of Education (the Department). As a reminder, all cash that is not used within three business days after it is received from the Department (or within an additional seven calendar days in certain circumstances) must be returned to the Department in accordance with the cash management regulations at 34 CFR 668.166.
To ensure the most accurate and timely processing of a refund of cash, please follow these guidelines:
To the extent possible, you should return funds electronically via the Grant Administration and Payment System (GAPS) e-Payments Web site. Refunds of cash greater than $100,000 must be returned electronically via the GAPS.
If you need to return funds via a paper check, mail the check to the COD School Relations Center at:
Department of Education
If you have any questions about this bulletin or returning funds via a paper check, contact the COD School Relations Center at 800/848-0978 or e-mail CODSupport@acs-inc.com. For additional information on returning funds via the GAPS, visit the e-Payments Web site or call the GAPS Helpdesk at 888/336-8930 for assistance.
Thank you for your ongoing partnership in the Direct Loan Program.