Posted Date:December 14, 2011
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: 2011- 2012 COD System Peak Processing Reminders
In January 2012, we will begin another peak processing period for the 2011-2012 Award Year. To assist schools with planning and processing, we remind you of the following:
Origination and disbursement responses are processed throughout the day and are often sent to schools within hours. During this peak period, batch processing may take longer. In the unlikely event batch processing takes longer than 24 hours, the Common Origination and Disbursement (COD) School Relations Center will contact affected schools on the next business day.
Note: Mondays and Tuesdays are the heaviest processing days. If a school has system flexibility in the scheduling of batch submissions, it may want to consider sending data on alternative days.
All system-generated responses are processed once a day at 2:30 A.M. (ET) for activity that occurred the preceding day. As with batches, in the unlikely event system-generated response processing takes longer than 24 hours, the COD School Relations Center will contact affected schools on the next business day. This includes the following system-generated responses:
- Booking Notification (BN)
- Credit Decision Override (CO)
- Entrance Counseling (EC)
- Negative Disbursement (ND)
- Payment to Servicer (PS)
- PLUS Request Acknowledgement (SP)
- Promissory Note (PN)
- TEACH Grant Agreement to Serve (AT)
- TEACH Grant Counseling (AC)
Most schools may submit actual disbursement records (Disbursement Release Indicator (DRI) equals “True”) up to 7 calendar days in advance of the disbursement date. This applies to all award types (except Iraq and Afghanistan Service Grant awards). To avoid rejects, a school should review its procedures and update any timeframe calculation for reporting actual disbursements.
As a reminder, when sending disbursement dates that are in the future, a school must remember to change the disbursement date if the actual date the disbursement is made is different than the date that was originally sent to the COD System.
Thank you for your patience and understanding during this peak processing period.
If you have questions, 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.