Posted Date:September 5, 2014
|Author:||Sue O'Flaherty, Service Director, Program Management, Federal Student Aid|
Subject: End of Federal Fiscal Year 2014 - Impact on Funds Availability for Pell Grant, Campus-Based, Iraq and Afghanistan Service Grant, TEACH Grant, and Direct Loan Programs (G5 and COD System)
Tuesday, September 30, 2014 marks the end of the Federal fiscal year for the Department of Education (the Department). Some of the Department’s core financial systems, including G5, will be on a modified processing schedule while the Department finalizes its processing and accounting for Fiscal Year 2014. These interruptions will impact how the Common Origination and Disbursement (COD) System will process financial data and when schools can obtain funds for the Federal student aid programs as follows:
9:00 P.M. (ET) on Tuesday, September 30, 2014 through 5:00 P.M. (ET) on Wednesday, October 1, 2014 – The G5 Web site will not be available. Schools will not be able to draw down Federal Pell Grant (Pell Grant), Campus-Based, Iraq and Afghanistan Service Grant, Teacher Education Assistance for College and Higher Education (TEACH) Grant, or William D. Ford Federal Direct Loan (Direct Loan) funds during this period. Schools will be able to draw down under their existing authorizations once G5 re-opens.
Tuesday, September 30, 2014 through Wednesday, October 1, 2014 – The COD System will accept Pell Grant, Iraq and Afghanistan Service Grant, TEACH Grant, and Direct Loan records. However, after 8:00 A.M. (ET) on Tuesday, September 30, 2014, Current Funding Level (CFL) changes (as a result of actual disbursements) and funding will not be processed until G5 re-opens.
All actual disbursements with a disbursement date from September 30, 2014 through October 1, 2014 must be received by the COD System no later than 8:00 A.M. (ET) on Tuesday, September 30, 2014, and subsequently accepted by the COD System, in order to generate the appropriate funding level increase prior to the G5 shutdown. Disbursements submitted by the deadline but not subsequently accepted, disbursements submitted after the deadline, and disbursements with a disbursement date after October 1, 2014 will be funded once G5 re-opens.
Note: In other Electronic Announcements posted on September 5, 2014, we provide comprehensive information related to activities and deadlines that coincide with the end of the Federal fiscal year. These announcements include information regarding the deadline for 2013-2014 Pell Grant and Iraq and Afghanistan Service Grant awards and the 2013-2014 TEACH Grant Closeout deadline. Schools should also refer to these announcements to ensure that 1) all necessary reports are obtained and 2) all applicable 2013-2014 origination, disbursement, and change records are submitted and accepted prior to the processing deadlines.
We appreciate your patience and understanding as we complete the required activities during the upcoming period. We expect financial processing to be caught up by the end of the week.
If you have any questions about this announcement, contact one of the following help desks:
For questions related to G5, contact the G5/GAPS Hotline at 888/336-8930 or e-mail firstname.lastname@example.org.
For questions related to the Campus-Based programs, contact the Campus-Based Call Center at 877/801-7168. You may also e-mail CBFOB@ed.gov.
For questions related to the COD System, 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.