Related Topics
Beginning with the 2011 – 2012 Award Year COD started collecting the Ability to Benefit information for Pell, Direct Loans, Perkins, and TEACH for students seeking federal financial aid who did not graduate from high school. Information can be found on the Department of Education website in the 2011-2012 COD Technical Reference document. This PDF document can be found at this URL:
https://www.fsadownload.ed.gov/Repository/CODTechRef1112-Nov/Tech%20Ref%20Sections/1112CODTechRefVol2Sec1ImpGuide.pdf
Ability to Benefit
Ability to Benefit information is maintained on the Financial Aid Maintenance Awards tab using the COD Award Headers.
Ability to Benefit information present in the ISIR file is imported into CAMS via the ISIR Direct functionality located at Tools >Import >Financial Aid or the data may be populated manually.
Financial Award Number
When COD Export is originated, Direct Loans are assigned a Financial Award Number and a COD Financial Award ID. After the COD Export has been initiated, users can change the Financial Award Number for a Direct Loan in the COD Award Header. This will also change the COD Financial Award ID (a system-generated read-only field) to reflect the adjusted Financial Award Number. After you change the Financial Award Number in the COD Award Header, future COD Exports will use the new number and ID.
COD Fees
The Award Header for each COD Award is created automatically when a COD award is manually or automatically created in CAMS. The Origination Fee Percent and Interest Rebate Percent fields are populated automatically by CAMS using the amounts entered in the Yearly COD Parameter for each award based on the Academic Year and Distribution Date of the award.
The percentages are the fees used in the COD Export and are not changed by CAMS even if the amounts are changed in the Yearly COD Parameter in Award Reference Setup. The fee percentages may be changed manually in the COD Award Header detail, if necessary.
An example for a needed change might be that you manually added an Award Distribution for a specific date with a specific Origination Fee. This will set the COD Header and used for the COD Export. You then add another distribution for an earlier date which has a different Origination Fee in that date’s Yearly COD Parameter. The COD Header will remain at fee in the award that was created first and will need to be manually changed to reflect the different fee that both distributions should actually have (the earlier distribution date).
Academic and Financial Aid Year Dates
The COD Export determines the Academic Year and Financial Aid Year date by obtaining that data from Financial Aid >Setup >Yearly Setup. If there is a need to change an award’s dates based on a student’s enrollment, double-click the COD Award for that award and change those dates in the Academic and Financial Aid Year Begin and End Dates section (for example a student enrolls for the year that includes Fall and Spring terms, then after Fall decides not to return in the Spring). When changing the Academic Year Begin and End Dates, the Weeks in Academic Year field will automatically calculate.
Changes here will override (for the changed award only) the Start and End Dates as set in Yearly Setup when exporting to COD in Tools >Export >Financial Aid >COD Export.
To Sync COD Award Headers: