Posted Date:March 12, 2010
| Author: | William Leith, Service Director, Program Management, Federal Student Aid |
Subject: 2007-2008 ACG CFL Reduction to G5 Net Drawdown Warning Message
At this time, all Academic Competitiveness Grant (ACG) funds for the 2007-2008 Award Year should have been disbursed to students. In general, schools are to submit ACG disbursements to the Department of Education (the Department) no later than 30 days after making an actual disbursement or becoming aware of the need to adjust a student’s previously reported disbursement. Accordingly, disbursements and disbursement adjustments for the 2007-2008 Award Year should have already been submitted to the Common Origination and Disbursement (COD) System for processing.
2007-2008 CFL Reduction to G5 Net Drawdown Warning Message Sent on March 11, 2010
On March 11, 2010, Federal Student Aid sent a message to schools that have a G5 ACG authorization, known in the COD System as Current Funding Level (CFL), for the 2007-2008 Award Year that is greater than their Net Drawdown amount reflected in the COD System and in G5. The message warns an affected school that its 2007-2008 ACG CFL will be reduced to the G5 Net Drawdown if the CFL is still greater than the G5 Net Drawdown on April 21, 2010. When the actual reduction occurs on April 21st, the school will have a reduced authorization in G5 and will receive an Electronic Statement of Account (ESOA) that reflects the revised authorization.
Federal Student Aid sent the March 11, 2010 warning message to an affected school’s Student Aid Internet Gateway (SAIG) mailbox in the message class AGTX08OP. A school that receives the warning message should review its internal records and its CFL, G5 Net Drawdown, and Net Accepted and Posted Disbursements (NAPD) reflected in the COD System as soon as possible. The school should submit all outstanding downward disbursement adjustments to the COD System and/or request any outstanding drawdown from G5 for the 2007-2008 Award Year as soon as possible but before April 21, 2010.
Contact Information
We appreciate your cooperation in taking the necessary actions as soon as possible. If you have questions about the warning message, contact the COD School Relations Center at 800/474-7268. You may also e-mail CODSupport@acs-inc.com.