Ready, Set & Pay!

Brenda Walton

• 1 min read

One Dollar Bill
Photo by maria pagan / Unsplash

As of April 7, 2019, COD System is set, ready and go for paying Title IV funds for 2019-2020 award year. It appears that COD and G5 are ready for all things 2019-2020.

Here is what has been updated

  • All of the COD message classes have been updated for 2019-2020;

  • MPN ID’s and TEACH Grant Agreement to Service will show “20” as the award year indicator; and

  • The default award year on the COD website has been flipped for 19-20.

2019-2020 Funding Authorization and Disbursement Information

  • Campus-based funding authorization is a go as of April 1. For individual schools, an email notification will be sent and allocation information has been posted to COD website;

  • For Direct Loans, schools have received their initial Current Funding Level (CFL) for Advance funding method. For all other payment methods, CFL adjustments will post automatically based on accepted actual disbursements. You will receive an Electronic Statement of Account (ESOA) and will be able to draw down funds in G5 accordingly; and

  • For Pell Grant and TEACH Grant, there is no initial authorization; you will receive a CFL based on the accepted and posted actual disbursement records via COD.

We are ready to pay our students for 2019-2020. Now that all of this is in place, it is show me the money time.

References
https://www2.ed.gov/finaid/prof/resources/data/databook2018/databook2018.html
https://ifap.ed.gov/eannouncements/040119FinalFundAuthforthe201920CBProg.html
https://cod.ed.gov/cod/LoginPage
https://www.g5.gov/WebBanner.html

Sign up for more like this.

Enter your email
Subscribe