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Session C-03

Session C-03. TEACH Grant Operational and Processing Information Part One - COD Lisa DiCarlo David Hebrank U.S. Department of Education. TEACH Grant Processing and Reports ATS Origination Disbursement Reconciliation What’s New for 2009-2010 Resources. Agenda. TEACH Grant Basics.

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Session C-03

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  1. Session C-03 TEACH Grant Operational and Processing Information Part One - COD Lisa DiCarlo David Hebrank U.S. Department of Education

  2. TEACH Grant Processing and Reports ATS Origination Disbursement Reconciliation What’s New for 2009-2010 Resources Agenda

  3. TEACH Grant Basics • TEACH Grant – Teacher Education Assistance for College and Higher Education • TEACH Grant Program • Provides up to $4,000 per academic year • Institution has the option to participate in the TEACH Grant Program • Students who plan on becoming teachers and meet certain additional requirements • Requires repayment as Direct Unsubsidized Loan if specified teaching requirement is not met

  4. TEACH Grant Processing and Reports ATS Origination Disbursement Reconciliation What’s New for 2009-2010 Resources Agenda

  5. TEACH Grant Processing Cycle ATS Reconcile Originate Disburse & Fund

  6. Agreement to Serve (ATS) • TEACH Grant Agreement To Serve (ATS) • Explains the service obligation that must be fulfilled, • Explains the circumstances that will result in the TEACH Grant being converted to a Direct Unsubsidized Loan • If the TEACH Grant is converted to a Direct Unsubsidized Loan, explains the terms and conditions associated with repaying the loan

  7. Agreement to Serve (ATS) • Only submitted electronically via the Agreement To Serve Web site. • An ATS must be signed by the student before disbursing a TEACH grant. • An ATS must be accepted on the COD System in order to allow actual disbursements to be accepted on COD for associated grants. • Same ATS may be used by multiple schools

  8. ATS Web Site Options

  9. www.teach-ats.ed.gov

  10. COD: Person Menu • Person • ATS searches • View and update TEACH Grant origination and disbursement data

  11. Person: ATS/Promissory Note Search

  12. Person: Pending/Unlinked

  13. Person: ATS with Linked Awards 22 16

  14. ATS Linking

  15. TEACH Grant Initial and Subsequent Counseling • Students are required to complete Initial Counseling before submitting an ATS • 08-09 award year schools who choose to participate in TEACH Grant program must provide counseling to students • Beginning with the 09-10 award year Initial and Subsequent Counseling will be completed via the ATS website

  16. TEACH Grant Processing Cycle ATS Reconcile Originate Disburse & Fund

  17. Origination Processing Overview • School confirms eligibility, awards, and disburses aid • School creates student record • Common Record or COD Web site • School sends information to COD • COD processes/edits and returns response • Error correction, when necessary

  18. Origination Processing • An eligible Citizenship Status is required to originate a TEACH Grant award on COD. • Schools submit records via batch or via the COD Web site • Must include person, award, and anticipated disbursement information • The sum of the disbursements (anticipated and/or actual) to the Award Amount

  19. Origination Processing • TEACH Grant awards must be created with correct information • 21 character ID consisting of SSN, Award type, Award year, first six of the OPE ID, and sequence number • Xxxxx1234 H 09 012345 001 • A school may originate more than one TEACH Grant award for the same student within an award year

  20. Origination Processing • The Award amount for a single Award cannot exceed $4,000 • The cumulative award amount for all TEACH Grant awards across all schools, across all grade levels, cannot exceed the maximum of $8000 for a single award year • Student level code can span multiple award years

  21. Origination Processing No POP (Potential Over-award) process for TEACH Grants; disbursements will reject (similar to ACG, SMART and Direct Loan; not Pell) No automatic correction process for TEACH Grants; records will be rejected (similar to ACG, SMART and Direct Loan; not Pell) TEACH Grants that become loans will not apply to Direct Loan annual or aggregate loan limits

  22. TEACH Grant Edits

  23. TEACH Grant Edits

  24. Person: TEACH Grant Information

  25. Person: TEACH Grant Information

  26. Person: Award Detail Information

  27. TEACH Grant Processing Cycle ATS Reconcile Originate Disburse & Fund

  28. TEACH Grant Funding Basics • Funding based on actual disbursements • 7 day rule • Records submitted up to 7 days in advance of disbursement date can trigger change in funding • Cash Management Regulations • 30 day reporting requirement • 3 -Day cash rule • Monthly reconciliation

  29. Processing Disbursements • Disbursement data • Anticipated vs. Actual • Disbursement date • Disbursement amount

  30. Person/Award: Disbursements

  31. Person/Award: Disbursement Detail

  32. Person/Award: Disbursement History

  33. Pending Disbursement Listing • What –Pending disbursements for that period • When – Weekly • Where – SAIG or COD Web • Why – Identify disbursements to be used in funding calculations

  34. TEACH Grant Processing Cycle ATS Reconcile Originate Disburse & Fund

  35. TEACH Grant Reconciliation • Monthly Reconciliation • Compare school records with the COD records to identify and resolve outstanding discrepancies

  36. COD: School Menu

  37. School: Cash Activity

  38. School: SAS Options 42

  39. COD Reporting Website

  40. Grants Newsbox 24

  41. Inactive Grants Report

  42. TEACH Grant Processing and Reports ATS Origination Disbursement Reconciliation/Closeout What’s New for 2009-2010 Resources Agenda

  43. What’s new for 2009-2010: • TEACH Grant Closeout Processing • Additional TEACH Grant School Reports • TEACH Grant Rebuild • TEACH Grant MRR – Data Request • ATS Discharge • TEACH Grant Initial and Subsequent Counseling

  44. TEACH Grant Closeout Defined • A process that includes • reconciling all TEACH Grant cash and actual disbursement information at a school to the information contained in COD • identifying and resolving any outstanding issues • bringing a school's official ending cash balance amounts to zero

  45. TEACH Grant Closeout Processing • The COD System will provide a closeout process for schools for the TEACH Grant Program • Award Year is closed once Latest Date to Accept Common Record has passed • School should have zero balance on their Balance Notification • Balance Notification • Generated for schools that have TEACH Grant cash activity or Net Accepted and Post Disbursement (NAPD) for the award year • For 08-09 Award Year sent in Spring 2009

  46. TEACH Grant School Reports COD will produce the following new TEACH Grant school reports/files:

  47. TEACH Grant Initial, Subsequent Counseling The ATS Web site will allow students to complete and submit Counseling for TEACH Grants Counseling for TEACH Grants will be award year specific The ATS Web site will require a student to successfully complete annual Counseling for a TEACH Grant prior to submitting an ATS for an award year

  48. TEACH Grant Processing and Reports ATS Origination Disbursement Reconciliation/Closeout What’s New for 2009-2010 Resources Agenda

  49. Locating TEACH Grant Information http://IFAP.ed.gov • Tools for Schools • COD CBT • EDExpress WBT • Letters and Bulletins • TEACH Grant Bulletins • Publications • COD technical reference

  50. TEACH Grant Assistance • COD customer service • 1.800.848.0978 • CODSupport@acs-inc.com

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