() Summary: Updated Guidance on Making Refunds of Cash

Posted on 03-17-2004

March 2004

DLB-04-06

Summary: Updated Guidance on Making Refunds of Cash

Dear Partner:

This bulletin updates and summarizes the correct process for making a refund of cash (i.e., returning unused funds) to the Department of Education (the Department). As a reminder, all cash that is not used within three business days after it is received from the Department (or within an additional seven calendar days in certain circumstances) must be returned to the Department in accordance with the cash management regulations at 34 CFR 668.166.

To ensure the most accurate and timely processing of a refund of cash, please follow these guidelines:

• To the extent possible, you should return funds electronically via the GAPS website at http://e-grants.ed.gov/gapsweb/epWelcome.asp.
• Refunds of cash greater than $100,000 must be returned electronically via GAPS.
• If you need to return funds via a paper check, please mail the check to the COD School Relations Center at:

U.S. Department of Education
Attention: Refunds of Cash
P.O. Box 9001
Niagara Falls, NY 14302

o Please include a completed Direct Loan Refunds of Cash form with your check, and also note your school code and the award year on the check itself. A revised Direct Loan Refunds of Cash form is attached to this bulletin and should be used for this purpose.
o If you are returning funds for more than one award year, please send a separate check for each award year.
o If you are returning funds for more than one school, please send a separate form and a separate check (or separate checks) for each school.

If you have any questions about this bulletin or returning funds via a paper check, please contact the COD School Relations Center at 800/848-0978 or e-mail CODSupport@acs-inc.com. For additional information on returning funds via GAPS, please visit http://e-grants.ed.gov/gapsweb/ or call the GAPS Helpdesk at 888/336-8930 for assistance.

Thank you for your ongoing partnership in the Direct Loan Program.

Sincerely,

Jane Holman
Acting Director, Title IV Delivery
Schools Channel