Posted Date:June 25, 2013
|Author:||Sue O’Flaherty, Service Director, Program Management, Federal Student Aid|
Subject: Additional COD System Implementation for 2013-2014 Award Year (Updated June 28, 2013)Note: On June 28, 2013, we replaced the attachment titled “Additional COD System Processing Function Enhancements and Modifications for 2013-2014.” In the replacement attachment, we updated the “Direct Subsidized Loan, Direct Unsubsidized Loan, and Direct PLUS Loan Origination Fee Percent Increase” section to more clearly state which loans will need to be reduced to zero and resubmitted to the COD System with an increased origination fee amount. The updated language is shown in red within the document. In addition, we added a new attachment titled “Submitting Changes to Origination Fee Percentages and Disbursements.” The new attachment provides instructions on reducing loans to zero.
As explained in a March 15, 2013 Electronic Announcement on the Information for Financial Aid Professionals (IFAP) Web site, we implemented Common Origination and Disbursement (COD) System functionality to support 2013-2014 Award Year Processing. During the period June 28-30, 2013, we plan to implement additional COD System functionality for the 2013-2014 Award Year.
In this announcement, we provide the following important information related to the implementation:
- COD Batch Processing Suspension and Web Site Outage Information
- COD System Processing Function Enhancements and Modifications Effective June 30, 2013
- Contact Information
We appreciate your patience and understanding as we complete this important activity.
COD Batch Processing Suspension and Web Site Outage Information
To install the additional COD System functionality, we will suspend COD batch processing beginning at 8:00 P.M. (ET) on Friday, June 28, 2013. Records submitted after this time will be held and processed after 11:00 A.M. (ET) on Sunday, June 30, 2013.
Note: All actual disbursements with a disbursement date from June 28, 2013 through June 30, 2013 must be received by the COD System no later than 9:00 AM (ET) on Friday, June 28, 2013, and subsequently accepted by the COD System, in order for them to be included in the drawdown prior to the outage. Disbursements submitted by the deadline but not subsequently accepted, disbursements submitted after the deadline, and disbursements with a disbursement date after June 30, 2013 will be processed and funded after the outage.
In addition, between 8:00 P.M. (ET) on Friday, June 28, 2013 and 11:00 A.M. (ET) on Sunday, June 30, 2013—
- Users will not be able to submit or retrieve data via the COD Web site.
- Users will not be able to access the COD Reports area of the COD Web site.
- An individual will not be able to complete any actions or view loan correspondence via the StudentLoans.gov Web site.
- An individual will not be able to complete any actions via the TEACH Grant Web site.
COD System Processing Function Enhancements and Modifications for 2013-2014 Effective June 30, 2013
In the attachment titled “Additional COD System Processing Function Enhancements and Modifications for 2013-2014,” we highlight the processing function enhancements and modifications we will implement during the June 28-30, 2013 period.
If you have questions about this announcement or its attachment, 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@ed.gov.