Publication Date: June 21, 2004
Author: General Manager, School Delivery Channel, FSA ASEDS
Summary: Federal Pell Grant Processing for the 2004-2005 Award Year
Posted on 06-21-2004
TO: All Destination Points
FROM: General Manager, School Delivery Channel, FSA ASEDS
SUMMARY: Federal Pell Grant Processing for the 2004-2005 Award Year
The Common Origination and Disbursement (COD) System has begun processing 2004-2005 Award Year Federal Pell Grant disbursement records for all schools. Full Participants can now submit or update disbursements with a Disbursement Release Indicator equal to true. Phase-In Participants are now able to submit disbursement records to the COD system for processing.
Schools using the funding method of Advanced Funded for processing Pell may submit disbursements up to 30 days before the disbursement date, however, the disbursements are not posted and are not funded in GAPS until 7 days before the disbursement date. Schools that are not using the Advanced Funded funding method should refer to the 2004-2005 COD Technical Reference, Volume II, Section 1 - Full Participant Implementation Guide on IFAP for submission guidelines.
As a school submits actual disbursements, 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 the 2004-2005 award year will be available for draw in the Grants Administration and Payment System (GAPS) July 1, 2004.
If you have any questions regarding this announcement contact the COD School Relations Center at 800/4PGRANT. You may also e-mail CODSupport@acs-inc.com.