Publication Date: June 23, 2003
Author: General Manager: FSA Schools Channel
Summary: Federal Pell Grant Processing for the 2003-2004 Award Year
Posted on 06-23-2003
To: Financial Aid Community and All Destination Points
From: G. Kay Jacks, General Manager, School Channel, FSA
Re: Federal Pell Grant Processing for the 2003-2004 Award Year
The Common Origination and Disbursement (COD) System has begun processing 2003-2004 Award Year Federal Pell Grant disbursement records for all schools. Full Participant schools can now submit Common Records with the Disbursement Release Indicator equal to true.). Phase-In schools are now able to submit disbursement records to COD for processing.
Although advance funded schools may submit records up to 30 days before the disbursement date, records are not posted, that is, they do not affect Current Funding Level (CFL) until 7 days before the disbursement date. As a school submits disbursement records and they are posted, the total accepted and posted amount for each disbursement is applied to the amount of the initial CFL. When the amount of accepted and posted disbursement records equals or exceeds the initial CFL amount, the CFL is increased. At that time a new Electronic Statement of Account (ESOA) is sent. Pell Grant Funds for 2003-2004 will be available for draw in the Grant Administration and Payment System (GAPS) July 1st.
Electronic Statements of Accounts for the 2003-2004 Award Year are temporarily delayed but will be available shortly. In the meantime, CFL for the 2003-2004 Award Year is viewable on the COD web site (cod.ed.gov).
If you have any questions regarding this announcement or COD, please contact the COD School Relations Center at 1-800-4PGRANT, or email CODSupport@acs-inc.com.