Publication Date: September 10, 2007
Author: William Leith, Acting General Manager, Application, Operations and Delivery Services, Federal Student Aid
Summary: Reminder-End of Federal Fiscal Year 2007 Impact on Funds Availability for Campus-Based, ACG, National SMART Grant, Pell Grant, and Direct Loan Programs (EDCAPS/GAPS and COD System)
Posted on 09-10-2007
As explained in an August 13, 2007 Electronic Announcement, September 30, 2007 marks the end of the Federal fiscal year for the Department of Education (the Department). Some of the Department's core financial systems, including the Grant Administration and Payment System (GAPS), will be on a modified processing schedule while the Department finalizes its processing and accounting for Fiscal Year 2007.
These interruptions 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. If you have not done so already, please review the impact information provided in the August 13th Electronic Announcement.
We appreciate your patience and understanding as we complete the required activities. As explained in the August 13th Electronic Announcement, we expect financial processing to be caught up by Friday, October 5, 2007.
If you have any questions about this announcement, contact one of the following help desks: