Common Origination and Disbursement (COD)
Investment ID: 018-000003203
Overview
Program Title
Common Origination and Disbursement (COD)
Description
Common processing platform for financial aid recipients attending higher education institutions participating in Title IV aid programs to originate and disburse funds, including Pell Grants, TEACH Grants, Direct Loans & Campus-Based Programs.
Type of Program
Major IT Investments
Multi-Agency Category
Not Applicable
Associated Websites
https://www.studentloans.gov, https://cod.ed.gov/cod/LoginPage, https://www.teach-ats.ed.gov
Investment Detail
The return on investment is that FSA is able to meet the legislative requirements to originate and disburse loans and grants, while avoiding costs by making changes to provide electronic correspondence and collect accurate data for reporting and to reduce errors, improper payments and school reconciliation issues. The system is enhanced and updated to allow FSA, schools, and borrowers to originate and disburse loans and grants more accurately and efficiently. The recompete/reprocurement process offered an opportunity to leverage competition to improve services and reduce costs.