| Publication Date: March 2, 2006 Author: G. Kay Jacks, General Manager, FSA Application, School Eligibility and Delivery Services Summary: 2003-2004 Pell Grant CFL Reduction to GAPS Net Drawdown Warning Message Posted on 03-02-2006 Background At this time, all Pell Grant funds for the 2003-2004 Award Year should have been disbursed to students. As you are aware, schools are to submit Pell Grant disbursements to the Department of Education (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 2003-2004 Award Year should have already been submitted to the Common Origination and Disbursement (COD) System for processing. 2003-2004 CFL Reduction to GAPS Net Drawdown Warning Message Sent on March 1, 2006-Reduction Will Occur on March 29, 2006 On March 1, 2006, we sent a message to schools that have a Grant Administration and Payment System (GAPS) authorization (known in the COD System as Current Funding Level (CFL)) for the 2003-2004 Award Year that is greater than their GAPS Net Drawdown reflected in the COD System. The message warns an affected school that its 2003-2004 CFL will be reduced to the GAPS Net Drawdown if the CFL is still greater than the GAPS Net Drawdown on March 29, 2006. When the actual reduction occurs later in March, the school will have a reduced authorization in GAPS and will receive an Electronic Statement of Account (ESOA) that reflects the revised authorization. We sent the March 1, 2006 warning message to an affected school's Student Aid Internet Gateway (SAIG) mailbox in the message class PGTX04OP. 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 2003-2004 Award Year as soon as possible but before March 29, 2006. 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. |