Publication Date: May 2004
Bulletin ID: DLB-04-16
Summary: Requesting Approval to Make Late Disbursements After 120 Days
Posted on 05-25-2004
May 2004
DLB-04-16
Subject: Requesting Approval to Make Late Disbursements After 120 Days
Dear Partner:
Some of you may have seen a recent posting on the web site of the National Association of Student Financial Aid Administrators (NASFAA) announcing that the U.S. Department of Education (the Department) recently established a method by which schools can submit requests for approval to make late disbursements of Title IV funds after the normal 120-day period, in accordance with the regulations at 34 CFR 668.164(g)(4)(i). The process described in the NASFAA announcement differs from the current process that Direct Loan schools are using to submit requests for approval to make late disbursements beyond the 120-day limit.
Direct Loan schools should continue to follow current procedures and submit all requests for approval to make late disbursements of Direct Loan funds after the 120-day period through the COD School Relations Center. We plan to issue further guidance on submitting late disbursement approval requests in the near future, through an announcement on the Department's Information for Financial Aid Professionals (IFAP) web site and in a subsequent Direct Loan Bulletin.
If you have any questions about this bulletin, please contact the COD School Relations Center at 800/848-0978. You may also e-mail codsupport@acs-inc.com.
Thank you for your ongoing partnership in the Direct Loan Program.
Sincerely,
Jane Holman
Acting Director, Title IV Delivery
Schools Channel