Posted Date:January 27, 2011
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: 2010-2011 Pell Grant CFL Reduction to NAPD Warning Message
At this time, the majority of Federal Pell Grant (Pell Grant) funds for the first payment period of the 2010-2011 Award Year should have been disbursed to students. In general, schools are to submit Pell Grant 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, the majority of disbursements for the first payment period of the 2010-2011 Award Year should have already been submitted to the Common Origination and Disbursement (COD) System for processing.
2010-2011 Pell Grant CFL Reduction to NAPD Warning Message Sent on January 26, 2011
On January 26, 2011, we sent a message to schools that have a Pell Grant Current Funding Level (CFL) for the 2010-2011 Award Year that is greater than their Net Accepted and Posted Disbursements (NAPD). The message warns an affected school that its 2010-2011 Pell Grant CFL will be reduced to the NAPD if the CFL is still greater than the NAPD on February 16, 2011. After the reduction, schools that have drawn down funds in G5 but that have not submitted the applicable disbursements to the COD System may be in an excess cash situation and must either return the funds to the Department of Education for the correct program/award year, or submit additional disbursement records to resolve the balance.
We sent the January 26, 2011 warning message to an affected school’s Student Aid Internet Gateway (SAIG) mailbox in the message class PGTX11OP. A school that received the warning message should review its internal records and submit all outstanding Pell Grant disbursements for the 2010-2011 Award Year to the COD System as soon as possible but before February 16, 2011.
We appreciate your cooperation in submitting any applicable outstanding 2010-2011 Pell Grant disbursements to the COD System as soon as possible. If you have questions about the warning message or about submitting disbursements to the COD System, contact the COD School Relations Center at 800/474-7268. You may also e-mail CODSupport@acs-inc.com.