Publication Date: January 12, 2005
Author: General Manager, FSA Application, School Eligibility and Delivery Services
Summary: 2002-2003 Pell Grant CFL Reduction to GAPS Net Drawdown Warning Message
Posted on 01-12-2005
To: All Destination Points
From: General Manager, FSA ASEDS
Summary: 2002-2003 Pell Grant CFL Reduction to GAPS Net Drawdown Warning Message
Background
At this time, all Pell Grant funds for the 2002-2003 Award Year should have been disbursed to students. As you are aware, schools are to submit Pell Grant disbursements to the Department generally no later than 30 days after the date the Pell Grant funds are disbursed to a student. Accordingly, disbursements and disbursement adjustments for the 2002-2003 Award Year should have already been submitted to the Common Origination and Disbursement (COD) System for processing.
2002-2003 CFL Reduction to GAPS Net Drawdown Warning Message Sent on January 11, 2005-Reduction Will Occur on February 12, 2005
On January 11, 2005, we sent a message to most schools that have a Grant Administration and Payment System (GAPS) obligation level (known in the COD System as Current Funding Level (CFL)) for the 2002-2003 Award Year that is greater than their GAPS Net Drawdown reflected in the COD System. (Schools that are affected by applicable pending COD data clean ups will not receive this message.) The message warns an affected school that its 2002-2003 CFL will be reduced to the GAPS Net Drawdown if the CFL is still greater than the GAPS Net Drawdown on February 12, 2005. When the actual reduction occurs in February, the school will have a reduced obligation level in GAPS and will receive an Electronic Statement of Account (ESOA) that reflects the revised obligation amount.
We sent the January 11, 2005 warning message to an affected school's SAIG mailbox in the message class PGTX03OP. A school that receives the warning message should review its internal records and its CFL, GAPS Net Drawdown, and Net Accepted and Posted Disbursements (NAPD) reflected in the COD System as soon as possible. The school should submit all outstanding downward disbursement adjustments to the COD System and/or request any outstanding drawdown from GAPS for the 2002-2003 Award Year as soon as possible but before February 12, 2005.
Contact Information
We appreciate your cooperation in taking the necessary actions as soon as possible. If you have questions about the warning message, contact the COD School Relations Center at 800/4PGRANT. You may also e-mail CODSupport@acs-inc.com.