The federal fiscal year for the Department of Education (the Department) ends on Thursday, Sept. 30, 2021. 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 2021. These modifications 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:
7 p.m. Eastern time (ET) on Thursday, Sept. 30, 2021, through 5 p.m. ET on Friday, Oct. 1, 2021 The G5 website will not be available. Schools will not be able to draw down Campus-Based, Federal Pell Grant (Pell Grant), 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.
Thursday, Sept. 30, 2021 – The COD System will accept Pell Grant, Iraq and Afghanistan Service Grant, TEACH Grant, and Direct Loan records. However, after 8 a.m. ET on Thursday, Sept. 30, 2021, 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 Sept. 30, 2021, through Oct. 1, 2021, must be received and subsequently accepted by the COD System no later than 8 a.m. ET on Thursday, Sept. 30, 2021, 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 Oct. 1, 2021, will be funded once G5 re-opens.
Note: Schools should also refer to two other announcements related to the Sept. 30, 2021, processing deadline (one is about the 2020–21 TEACH Grant Closeout deadline and one is about the Pell Grant and Iraq and Afghanistan Service Grant 2020–21 award year data submission deadline). Schools should ensure that 1) all necessary reports are obtained and 2) all applicable 2020–21 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 following week.
If you have any questions about this announcement, contact one of the following help desks: