Publication Date: January 17, 2008
Bulletin ID: DLB-08-01
Summary: Updated Guidance on Making Refunds of Cash
This bulletin updates and summarizes the correct process for making a refund of cash (i.e., returning unused Direct Loan funds) to the Department of Education (the Department). As a reminder, all Direct Loan funds that are not disbursed to student or parent borrowers within three business days after they are 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:
U.S. Department of Education
Attention: Refunds of Cash
P.O. Box 9001
Niagara Falls, NY 14302
If you have any questions about this bulletin or returning funds via a paper check, contact the COD School Relations Center at 800/848-0978 or e-mail CODSupport@acs-inc.com. For additional information on returning funds via G5, refer to the G5 Web site or call the G5/GAPS hotline at 888/336-8930 for assistance.
Thank you for your ongoing partnership in the Direct Loan Program.
Acting General Manager, Application, Operations and Delivery Services
Publication Date: 1/17/2008