| Publication Date: May 11, 2007 Author: William Leith, Acting General Manager, Application, Operations and Delivery Services, Federal Student Aid Summary: 2006-2007 National SMART Grant CFL Reduction to NAPD Warning Message Posted on 05-11-2007 At this time, the majority of National Science and Mathematics Access to Retain Talent Grant (National SMART Grant) funds for the first and second payment periods of the 2006-2007 Award Year should have been disbursed to students. In general, schools are to submit National SMART Grant disbursements to the Department of Education (the Department) no later than 30 days after making an actual disbursement or becoming aware of the need to adjust a student's previously reported disbursement. Accordingly, the majority of disbursements for the first and second payment periods of the 2006-2007 Award Year should have already been submitted to the Common Origination and Disbursement (COD) System for processing. 2006-2007 National SMART Grant CFL Reduction to NAPD Warning Message Sent on May 10, 2007 On May 10, 2007, we sent a message to most schools that have a National SMART Grant Current Funding Level (CFL) for the 2006-2007 Award Year that is greater than their Net Accepted and Posted Disbursements (NAPD). (Schools that have received a National SMART Grant CFL increase within the past 60 days will not receive this message.) The message warns an affected school that its 2006-2007 National SMART Grant CFL will be reduced to the NAPD if the CFL is still greater than the NAPD on May 25, 2007. After the reduction, schools that have drawn down funds in the Grant Administration and Payment System (GAPS) but that have not submitted the applicable disbursements to the COD System may be in an excess cash situation and must rectify the situation as soon as possible. We sent the May 10, 2007 warning message to an affected school's Student Aid Internet Gateway (SAIG) mailbox in the message class SGTX07OP. A school that receives the warning message should review its internal records and submit all outstanding National SMART Grant disbursements for the 2006-2007 Award Year to the COD System as soon as possible but before May 25, 2007. Contact Information We appreciate your cooperation in submitting any applicable outstanding 2006-2007 National SMART Grant disbursements to the COD System as soon as possible. If you have questions about the warning message or about submitting disbursements to the COD System, contact the COD School Relations Center at 800/4PGRANT (800/474-7268) for ACG, National SMART Grant, and Pell Grant. You may also e-mail CODSupport@acs-inc.com. |