Publication Date: May 15, 2008
Author: William Leith, Acting General Manager, Application, Operations and Delivery Services, Federal Student Aid
Summary: Federal Pell Grant 2008-2009 Award Year Initial Authorization for Advanced Funded Schools
Posted on 05-15-2008
We have processed the Federal Pell Grant (Pell Grant) Initial Authorization for the 2008-2009 Award Year, for schools that receive Pell Grant funds under the advanced funding method. A school’s Initial Authorization, known in the Common Origination and Disbursement (COD) System as Current Funding Level (CFL), was determined based on a percentage of the disbursement data submitted and accepted during the 2007-2008 Award Year. Shortly, we will generate an Electronic Statement of Account (ESOA) that lists the amount of a school’s Initial CFL for the 2008-2009 Award Year and send it to the school’s Student Aid Internet Gateway (SAIG) mailbox in the message class PGAS09OP.
An Advanced Funded school can view its Initial CFL on the COD Web site’s Funding Information screen. A school will be able to view and draw down 2008-2009 Pell Grant funds in G5 (formerly GAPS) on Tuesday, July 1, 2008.
As an Advanced Funded school submits actual Pell Grant disbursement records, the COD System will apply the total accepted and posted amount for each disbursement to the amount of the school’s Initial CFL. Only after the Initial CFL amount has been reached will the school’s CFL be increased to cover additional accepted and posted disbursements. A new ESOA will be sent to the school each time its Pell Grant CFL amount changes.
1) Advanced Funded schools that had less than $9,462 in disbursements for the 2007-2008 Award Year will not receive an Initial CFL. These schools will receive a CFL once the COD System has accepted and posted actual disbursement records. A new ESOA will be sent to a school each time its Pell Grant CFL amount changes.
2) Schools that participate in the Just in Time pilot and schools that receive funds under the Reimbursement, Heightened Cash Monitoring 1 (HCM1), or Heightened Cash Monitoring 2 (HCM2) funding method will not receive an Initial CFL. These schools will receive a CFL once the COD System has accepted and posted actual disbursement records. A new ESOA will be sent to a school each time its Pell Grant CFL amount changes.
3) Unlike the Pell Grant Program, there will be no Initial Authorizations for the Academic Competitiveness Grant (ACG), National Science and Mathematics Access to Retain Talent Grant (National SMART Grant), and Teacher Education Assistance for College and Higher Education (TEACH) Grant programs for the 2008-2009 Award Year. Schools will receive a CFL under one or more of these programs based on the accepted and posted actual disbursement records that they submit to the COD System. For ACG and National SMART Grant, a new ESOA will be sent to a school’s SAIG mailbox each time its CFL amount changes. For TEACH Grant, a new or revised authorization will be available in G5.
TEACH Grant Implementation Note: We plan to implement COD System functionality to support the processing of TEACH Grant awards for the 2008-2009 and subsequent award years during the period June 27-28, 2008. For complete information about the operational implementation of the TEACH Grant Program, refer to the April 9, 2008 Electronic Announcement posted on the Information for Financial Aid Professionals (IFAP) Web site.
At this time, we want to remind schools of the following disbursement-related information:
- The COD System will accept actual disbursement records (Disbursement Release Indicator or DRI value equals “True”) for 2008-2009 Pell Grant awards beginning May 19, 2008.
If you have any questions about the Pell Grant Initial Authorization for the 2008-2009 Award Year, contact the COD School Relations Center at 800/474-7268. You may also e-mail CODSupport@acs-inc.com
- Prior to May 19, 2008, the COD System will reject all actual disbursements.
- Beginning May 19, 2008, an Advanced Funded school may submit actual disbursements for 2008-2009 Pell Grant awards. As a reminder, actual disbursements can be submitted up to 30 days before the disbursement date.
- As noted above, an Advanced Funded school will be able to view and draw down 2008-2009 Pell Grant funds in G5 on Tuesday, July 1, 2008.