Outage to impact availability of Title IV Funds
April 11, 2019
If your office has been too busy processing Title IV aid to take a break, you may now have an opportunity.
In an April 10 Electronic Announcement, the Department of Education said a planned outage later this month affects the disbursement and return of Title IV funds. During the period of April 24-29, 2019, the Department of Education (the Department) will perform extended system maintenance to its core financial systems, including G5.
According to the announcement, schools will not be able to draw down or return funds from 7 p.m. Eastern time (ET) on Wednesday, April 24 through 6 a.m. ET on Monday, April 29 for the following Title IV Programs:
- Campus-Based Programs
- Federal Pell Grant (Pell Grant)
- Iraq and Afghanistan Service Grant
- Teacher Education Assistance for College and Higher Education Grant (TEACH Grant)
- William D. Ford Federal Direct Loan (Direct Loan)
During the outage, the Common Origination and Disbursement (COD) System will accept Pell Grant, Iraq and Afghanistan Service Grant, TEACH Grant, and Direct Loan records. However, after 10 a.m. ET on Wednesday, April 24, Current Funding Level (CFL) changes (as a result of actual disbursements) and funding will not be processed by G5 until April 29.
For more information about the outage, schools should contact one of the following help desks: