Posted Date:September 2, 2009
Author: William Leith, Service Director, Program Management, Federal Student Aid
Subject: End of Federal Fiscal Year 2009 - Impact on Funds Availability for Campus-Based, ACG, National SMART Grant, Pell Grant, TEACH Grant, and Direct Loan Programs (G5 and COD System)
Wednesday, September 30, 2009 marks the end of the Federal fiscal year for the Department of Education (the Department). Some of the Department's core financial systems, including G5, will be on a modified processing schedule while the Department finalizes its processing and accounting for Fiscal Year 2009. 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 as follows:
- Tuesday, September 15, 2009 through Friday, September 25, 2009 - Financial processing between the COD System and G5 will be reduced to once every evening (instead of the normal twice-a-day, morning/evening processing). As a result, early morning processing will be completed in the evening. Current Funding Level (CFL) changes and funding could be delayed by a day.
- Friday, September 25, 2009 through Friday, October 2, 2009 - The COD System will accept Academic Competitiveness Grant (ACG), Federal Pell Grant (Pell Grant), National Science and Mathematics Access to Retain Talent Grant (National SMART Grant), Teacher Education Assistance for College and Higher Education (TEACH) Grant, and William D. Ford Federal Direct Loan (Direct Loan) records. However, after 9:00 P.M. (ET) on Friday, September 25, 2009, CFL changes (as a result of actual disbursements) and funding will not be processed by G5 until October 2, 2009.
All actual disbursements with a disbursement date from September 25, 2009 through October 2, 2009 must be received by the COD System no later than 9:00 P.M. (ET) on Friday, September 25, 2009, and subsequently accepted by the COD System, in order for them to be included in the funds available for drawdown prior to the shutdown. Disbursements submitted by the deadline but not subsequently accepted, disbursements submitted after the deadline, and disbursements with a disbursement date after October 2, 2009 will be funded after G5 re-opens on October 2, 2009.
Note: In another Electronic Announcement posted on September 2, 2009, we provide comprehensive information related to activities and deadlines that coincide with the end of the Federal fiscal year. This announcement is about the September 30, 2009 deadline for 2008-2009 ACG, National SMART Grant, and Pell Grant awards. Schools should refer to both Electronic Announcements to ensure that 1) all necessary reports are obtained and 2) all applicable 2008-2009 ACG, National SMART Grant, and Pell Grant origination, disbursement, and change records are submitted and accepted prior to the outages.
- 8:00 P.M. (ET) on Wednesday, September 30, 2009 through 6:00 A.M. (ET) on Friday, October 2, 2009 - The G5 Web site will not be available. Schools will not be able to draw down Campus-Based, ACG, National SMART Grant, Pell Grant, TEACH Grant, or Direct Loan funds during this period. Schools will be able to draw down under their existing authorizations after 6:00 A.M. (ET) on Friday, October 2, 2009.
We appreciate your patience and understanding as we complete the required activities during the upcoming period. We expect financial processing to be caught up by October 5, 2009.
If you have any questions about this announcement, contact one of the following help desks:
- For questions related to G5, contact the G5/GAPS Hotline at 888/336-8930 or e-mail email@example.com.
- For questions related to the Campus-Based programs, contact the Campus-Based Call Center at 877/801-7168. You may also e-mail CBFOB@ed.gov.
- For questions related to the COD System, contact the COD School Relations Center at 800/474-7268 for Grants or 800/848-0978 for Direct Loans. You may also e mail CODSupport@acs-inc.com.