Publication Date: September 15, 2006
Author: G. Kay Jacks, General Manager, Application, Operations and Delivery Services, Federal Student Aid
Summary: Reminder--Upcoming Impact on Funds Availability for Campus-Based, ACG, National SMART Grant, Pell Grant, and Direct Loan (EDCAPS/GAPS and COD)
Posted on 09-15-2006
As explained in an Electronic Announcement posted on August 23, 2006, the Department of Education (the Department) will transition to a new financial operating environment in conjunction with the year-end close out of Fiscal Year 2006. As a result, some of the Department's core financial systems, including the Grant Administration and Payment System (GAPS), will be shut down and unavailable from 8:00 P.M. (ET) on Saturday, September 30, 2006 until 8:00 A.M. (ET) on Tuesday, October 10, 2006.
This interruption will impact how the Common Origination and Disbursement (COD) System will process financial data and when schools can obtain funds for the Federal Student Aid programs. In preparation for the shutdown, please review the CFO guidance and impact information provided in the August 23rd announcement.
We appreciate schools' patience and understanding as the Department completes this important activity. We expect the financial processing backlog to be caught up in EDCAPS/GAPS by Thursday, October 12, 2006.
If you have any questions about the August 23rd announcement, contact one of the following help desks: