Publication Date: July 2003
Bulletin ID: DLB-03-29
Summary: Process for Refunding Cash After the Loan Origination Center Closes on July 31, 2003
Posted on 08-01-2003
Subject:� Process for Refunding Cash After the Loan Origination Center Closes on July 31, 2003
Effective July 31, 2003, the Loan Origination Center (LOC) will close and will no longer process Direct Loan data. As a result, we revised the process for returning funds to the Department. After July 31, 2003, all schools, regardless of how they receive money (i.e., advance pay or pushed cash), can return funds using any of the methods described below. The methods apply to any award year.
We encourage you to return funds electronically. If the amount is more than $100,000, it must be returned electronically through GAPS. To return funds via GAPS, go to http://e-grants.ed.gov/gapsweb/ and sign in to begin the process. FEDWIRE is no longer an option.
Mail cash refunds to:
COD School Relations Center
Attn: Refunded Cash
P. O. Box 9001
Niagara Falls, NY 14302
When returning money, you must include your school name, your school identifier (G-code or Routing ID), and the award year for which the funds are being returned. If you discover a need to return funds for 2001-2002 or prior years, please contact COD School Relations, so we can work with your school individually.
The attached chart can be used as a desk reference at your school. Please share with the appropriate offices and staff at your school. It replaces all previous versions.
If you have any questions about this bulletin, please contact COD School Relations at 800/848-0978 or by email at email@example.com. Thank you for your ongoing partnership in the Direct Loan Program.
Acting Director, Title IV Delivery