Posted Date:January 15, 2010
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: Pushed Cash Funding Method Will End for Direct Loan Program Beginning 2010-2011 Award Year
Beginning with our implementation of the Common Origination Disbursement (COD) System for the 2010-2011 Award Year, planned for March 2010, all schools participating in the William D. Ford Federal Direct Loan (Direct Loan) Program will be required to use the Advanced Funded method. The Pushed Cash method will no longer be available as a funding option.
- If a school participates in the Direct Loan Program and currently receives its funding under the Pushed Cash method, we will change the school's funding method from Pushed Cash to Advanced Funded for the 2010-2011 Award Year.
- If a school participates in the Direct Loan Program and currently receives its funding under the Advanced Funded method, there will be no change in the way the school will receive its Direct Loan funds.
We will send additional information about the funding method change to the relatively small number of affected schools via a separate e-mail notice.
If you have questions about the upcoming funding method change, contact the COD School Relations Center at 800/848-0978. You may also e-mail CODSupport@acs-inc.com.