| Publication Date: June 28, 2007 Author: William Leith, Acting General Manager, Application, Operations and Delivery Services, Federal Student Aid Summary: G5 Implementation Update #1 - New Electronic System for Grants Management and Payments Coming Soon Posted on 06-28-2007 This is the first in a series of communications about the development of G5—a state-of-the-art electronic system for grants management and payments. Recently, the Department of Education (the Department) announced that G5 will replace the current Grant Administration and Payments System (GAPS), including the e-Payments functionality used by schools to draw down Campus-Based, Academic Competitiveness Grant (ACG), National Science and Mathematics Access to Retain Talent Grant (National SMART Grant), Federal Pell Grant (Pell Grant), and William D. Ford Federal Direct Loan (Direct Loan) funds. G5 will provide a number of performance, processing, and customer enhancements. Attached to this announcement is G5 information that is currently posted on the GAPS e-Payments Web site. As explained in the attachment, the Department will implement G5 in three phases over several years. Phase I of G5 will address e-Payments and provide improved drawdown functionality. Full implementation of Phase I is currently targeted for the last quarter of calendar year 2007—most likely over the Veterans Day holiday weekend (November 8-12, 2007). Over the next several months, the Department will provide additional information about Phase I of G5. This information will usually be posted first on the GAPS e-Payments Web site and then will be followed by an Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site, an item in the Common Origination and Disbursement (COD) Processing Update, and a message on the COD Web site. Please monitor these communications and share the information, as appropriate, with others at your school/organization. We look forward to working with you as the Department implements G5. If you have any questions about the status and/or implementation of G5, you may e-mail G5_Admin@ed.gov (G5_Admin@ed.gov). |