Session DL-04

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2. . Title IV Funding to Schools. Direct Loan FundingCash ManagementG5

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Session DL-04 Title IV Funding To Schools: From COD Through G5 (For Direct Loans) George Karayianis U.S. Bureau of Education

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Title IV Funding to Schools Direct Loan Funding Cash Management G5 – Updates

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Direct Loan Funding Process Overview "How do schools get their $Money$?"

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Triangle of Funds Management: Direct Loans COD System G5 School

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Funding Lifecycle Initial subsidizing Disbursement and credit preparing (in COD System) Drawdowns (through G5) Monthly compromise distributions/money School/COD System/G5 End-of-honor year compromise and closeout

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Funding in view of genuine payment 7 day lead Records submitted up to 7 days ahead of time of dispensing date can trigger an expansion in financing Funding Basics

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Funding Delivery Methods Advanced Funds/School-Initiated Drawdowns Pushed Cash/System-Initiated Drawdowns versus

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School gets an underlying CFL School draws down money by means of the G5 Web website School sends in MPNs and real payment records to substantiate money got COD System sends CFL increments to G5 so school can keep on drawdown supports as required Advanced Funds/School-Initiated Drawdowns

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Funding Flow Advanced Funds SCHOOL Batches COD System G5 CFL

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The COD System starts drawdown demands in view of real payment acknowledged and posted by the COD System and trade is stored out a school's ledger Schools must have an acknowledged start record and MPN on document before a real payment is acknowledged and money is pushed to a school Pushed Cash/System-Initiated Drawdowns

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Funding Flow Pushed Cash SCHOOL Batches COD System G5 FDLs CFL Drawdowns

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Example: Funded Disbursement Listing

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Title IV Funding to Schools Direct Loan Funding Cash Management G5 – Updates

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30-Day Reporting Requirement 685.301(d) Direct Loan 3-Day Cash Rule 668.162(b) Monthly Reconciliation 685.102(b) Direct Loan Cash Management Requirements

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Monthly compromise Compare your records with the Dept's to recognize and represent errors Ending Cash Balance (ECB) may not equivalent $0 Closeout Process guaranteeing all records are handled and all money is represented The "last" compromise, yet your ECB must = $0 Direct Loan Reconciliation versus End-Of-Year Closeout

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Your Ending Cash Balance Equation Beginning Cash Balance Cash Receipts Refunds Of Cash Booked Disburse-ments - + Booked Adjustments Ending Cash Balance - =

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School Account Statement (SAS) COD financing Web screens COD reports G5 Web screens and reports COD and G5 Tools Direct Loan Reconciliation

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School Funding Information Web Screen

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Cash Activity Screen

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Monthly document sent from the COD System Contains school information as considered the COD System Sections of the SAS Cash synopsis Disbursement rundown by advance sort Cash detail Loan/payment data Direct Loan School Account Statement (SAS)

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Title IV Funding to Schools Direct Loan Funding Cash Management G5 – Updates

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G5 Department of Education's installment framework Formerly known as GAPS Provides area for all school financing forms Drawdowns Drawdown conformities Refunds G5 financing reports 22

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G5 Homepage 23

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G5 Registration 24

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My Awards A simple to-view rundown of the greater part of your organization's honors in G5 Gives a speedy depiction of the honor number, accessible adjust, last date to draw, and honor status

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G5 – My Awards Page 26

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How would I Request my Direct Loan Funds???

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Create Payments 28

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Create Payment – Payment Tab 29

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Create Payment – Summary Tab 30

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Automated E-mail George, Requesting User ID: Georgek@school.edu Your ask for made on 08/12/2008 for $100.00, has been gotten. Your control number is 2008081206381 and you will get your assets on 08/13/2008 in financial balance ****9426. On the off chance that you didn't ask for this installment, please contact Helpdesk at 1-888-336-8930.

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Drawdown Adjustments Can't move more than has been drawn Net alteration must equivalent zero Do not utilize conformities as a substitute for returning overabundance money Do not utilize acclimations to finish off a year or convey your school's money adjust to zero

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Select Drawdown Adjustments from Payments Menu

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Enter School ID

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Click Continue

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Enter Amount of Adjustment

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Click Continue

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Click Submit Adjustments

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Adjustment Confirmation

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Advantages of Electronic Refunds Posts to GAPS inside 2 business days You control handle You coordinate from which financial balance the cash is discounted Multiple discounts on one screen and at one time Reduces human mistake and postponements

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Enter Refund Functionality

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Enter Refund Amount

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Confirm discount and snap proceed

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Select affirm to process discount

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Refund affirmation

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G5 Reporting