Posted Date: September 8, 2017
|Author:||John Kane, Acting Service Director, Program Management, Federal Student Aid|
Subject: End of Federal Fiscal Year 2017 - Impact on Funds Availability for Pell Grant, Campus-Based, Iraq and Afghanistan Service Grant, TEACH Grant, and Direct Loan Programs (G5 and COD System)
Friday, September 29, 2017 marks the end of the Federal fiscal year for the Department of Education (the Department). 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 2017. These interruptions 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:
9:00 P.M. (ET) on Friday, September 29, 2017 through 5:00 P.M. (ET) on Sunday, October 1, 2017 – The G5 website will not be available. Schools will not be able to draw down Federal Pell Grant (Pell Grant), Campus-Based, 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.
Friday, September 29, 2017 through Sunday, October 1, 2017 – The COD System will accept Pell Grant, Iraq and Afghanistan Service Grant, TEACH Grant, and Direct Loan records. However, after 8:00 A.M. (ET) on Friday, September 29, 2017, 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 September 29, 2017 through October 1, 2017 must be received by the COD System no later than 8:00 A.M. (ET) on Friday, September 29, 2017, and subsequently accepted by the COD System, 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 October 1, 2017 will be funded once G5 re-opens.
Note: In other Electronic Announcements posted on September 8, 2017, we provide comprehensive information related to activities and deadlines that coincide with the end of the Federal fiscal year. These announcements include information regarding the deadline for 2016-2017 Pell Grant and Iraq and Afghanistan Service Grant awards and the 2016-2017 TEACH Grant Closeout deadline. Schools should also refer to these announcements to ensure that 1) all necessary reports are obtained and 2) all applicable 2016-2017 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:
For questions related to G5, contact the G5/GAPS Hotline at 888/336-8930 or email email@example.com.
For questions related to the Campus-Based programs, contact the Campus-Based Call Center at 877/801-7168. You may also email CBFOB@ed.gov.
For questions related to the COD System, contact the COD School Relations Center at 800/474-7268 for Grants or 800/848-0978 for Direct Loans. You may also email CODSupport@ed.gov.
Publication Date: 9/8/2017