Federal Student Aid - IFAP
   

Publication Date: September 15, 2003

Author: General Manager: FSA Schools Channel

Summary: COD Processing and Department of Education Fiscal Year End Processing


Posted on 09-15-2003


TO: All Destination Points

From: COD School Relations Center

Subject: COD Processing and Department of Education Fiscal Year End Processing

Date: September 15, 2003

 

September 30, 2003 marks the end of the Department of Education's 2003 fiscal year. We would like to take this opportunity to inform you how Common Origination and Disbursement (COD) processing will be affected, and how this may impact the way your school processes Pell Grant and Direct Loan records during the days surrounding the September 30th date.

Beginning the week of September 15 through September 25, COD records will be processed by GAPS after 6PM. This means that Current Funding Level (CFL) changes resulting from this processing will be delayed by one day.

COD will process all transactions received through Thursday, September 25th, at 3:00 PM (Eastern Time) through all the financial systems. Records submitted after this time will be processed by COD but will not result in changes to the CFL until ED finishes its closeout activities. If your school has disbursement records that will result in a change to CFL to reflect these changes, please submit them as soon as possible but no later than September 25th in order to allow your CFL prior to the end of the fiscal year

If you have any questions regarding this message, please feel free to contact the COD School Relations Center: Telephone: 1-800-4PGRANT for Pell Grants, 1-800-848-0978 for Direct Loans, or email: CODSupport@acs-inc.com.