Schools that have not yet closed out their 2024-25 Direct Loan Program year need to do so by July 31.
In a July 21 Electronic Announcement, the Department of Education announced that the deadline to submit records for the 2024-25 Direct Loan Program year is 8 p.m. (Eastern) on Thursday, July 31, 2026.
All records must be submitted and accepted by the Common Origination and Disbursement (COD) System by the deadline in order to be included in the school’s final ending cash balance for 2024-25. Records received after the closeout deadline will be rejected and returned to the school.
To be successfully closed out, a school must:
- reconcile to an ending cash balance of $0 and total net unbooked disbursements of $0, as reflected on the monthly School Account Statement and in the school’s internal records; and
- complete the School Balance Confirmation form on the COD website.
Schools can also find more information about closeout procedures is in the COD FAQs on the COD website; Volume 4, Chapter 6 of the Federal Student Aid Handbook; and the Electronic Announcements published March 18, 2026, and May 20, 2026.
Schools with questions or needing assistance with closeout can contact the FSA Partner and School Relations Center at 1-800-848-0978 or by emailing CODSupport@ed.gov.
