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Schools reminded about closeout deadline for 2020-21 Direct Loan Program
April 28, 2022
If you are planning your summer vacation, you may want to schedule it around the deadline for the 2020-21 program year closeout.
In an April 26 Electronic Announcement, the Department of Education reminded schools that the closeout deadline for the 2020-21 Direct Loan Program Year is Friday, July 29, 2022.
According to the Department, the July 29 date is the last processing day before the end of the program year, and all school data must be received and accepted by this date to be included in a school's final Ending Cash Balance for the year.
In the announcement, the Department said for a school to be considered successfully closed out, it must reconcile to an Ending Cash Balance of $0 and Total Net Unbooked Disbursements of $0 and complete the School Balance Confirmation form on the Common Origination and Disbursement (COD) website.
Institutions with questions about the announcement, that need assistance with closeout, or have any special processing considerations should contact the COD School Relations Center at 1-800-848-0978 or via email at CODSupport@ed.gov.