Posted Date:December 13, 2016
|Author:||Sue O'Flaherty, Service Director, Program Management, Federal Student Aid|
Subject: 2016-2017 COD System Peak Processing Reminders
In January 2017, we will begin a peak processing period for the 2016-2017 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 later in the week.
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 Status (CS)
- Entrance Counseling, Exit Counseling, and Financial Awareness Counseling (EC)
- Negative Disbursement (ND)
- Origination Fee and Interest Rebate Percentage (OF)
- Payment to Servicing (PS)
- PLUS Request Acknowledgement (SP)
- Promissory Note (PN)
- Subsidized Usage Limit Applies (SULA) Calculation Acknowledgement (SU)
- 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 (including Federal Pell Grant awards).
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 email CODSupport@ed.gov.