WHEN WILL COD BE UPDATED FOR YEAR ROUND PELL

The approval of Year Round Pell Grants came as a surprise to many and software vendors are clamoring for ED to provide technical specs to accommodate the changes in processing it will require. According to an electronic announcement, the Department is working on tech specs and will be providing them later this year. The Department said that it will be updating COD during October 13-15, 2017 to allow schools to submit Pell Grant Records in excess of 100 percent of a Pell Grant Scheduled Award. Until then, schools can report summer 2017 and Fall 2017 disbursements for the 2017-2018 Award Year. Until COD is updated, these awards and disbursements will be limited to 100% of the Pell Grant Scheduled Award. After October 15, 2017 schools will be able to report updated information to indicate that a student is eligible to receive up to 150% of his or her Pell Grant Scheduled Award, and make award and disbursement adjustments as needed.