Publication Date: November 10, 2008
Author: William Leith, Acting 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, TEACH Grant, and Direct Loan Programs (G5 and COD System)
Posted on 11-10-2008
As explained in an October 9, 2008 Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site, the Department of Education (the Department) is in the process of moving its financial data processing facilities. During the transition period, G5 (formerly GAPS) will be unavailable from 3:00 P.M. (ET) on Friday, November 21, 2008 through 6:00 A.M. (ET) on Monday, December 1, 2008.
This interruption will impact how the Common Origination and Disbursement (COD) System will process financial data and when a school can obtain funds for the Federal student aid programs. In preparation for the shutdown, all schools should review the October 9th Electronic Announcement and the guidance referenced in that announcement that is available on the G5 Web site.
Note: While the financial data processing facilities move will impact financial processing for a short period of time as explained in the October 9th Electronic Announcement, once completed, there will be no change to how users interface with G5 via the G5 Web site or receive funds under either the ACH or FEDWIRE payment system on a regular basis.
We appreciate your patience and understanding as the Department completes this important activity during the upcoming period. We expect financial processing to be caught up by Thursday, December 4, 2008.
If you have questions about the October 9th Electronic Announcement, contact one of the following help desks: