Mid-Year Process

For student's funding not packaged through SAINT Director

This spreadsheet should be utilized when a college has completed the Compliance Review Process (Reviewing ISIR for conflicts, reviewing Verification documentation, resolving Comment Codes, etc...) on a student's package and has previously scheduled the student's funding (Loans, PELL, etc...) on the COD website, prior to joining Global's Services. Clients will complete the spreadsheet (above) and submit it to the Prioryeardraws@globalfas.com email address. Global will then begin the draw down process for your student's funding. Since this spreadsheet will contain personal information, the spreadsheet will need to be password protected. The password will need to be sent in a separate email.  If a client does not have the ability to password protect the spreadsheet, they can place a non-password protected spreadsheet on their SFTP site. Email Global's Accounting Team (Prioryeardraws@globalfas.com) to advise of the file location and file name that needs to be processed.

***Note***

Clients will only request funding on this spreadsheet once the student becomes eligible for the funding to be drawn. A student's funds cannot be drawn if they have not started a future term/payment period or Direct Loans while they are on a Leave of Absence (LOA).

For student's funding not packaged through SAINT Director

This spreadsheet should be utilized when a college has completed the Compliance Review Process (Reviewing ISIR for conflicts, reviewing Verification documentation, resolving Comment Codes, etc...) on a student's package, but have not scheduled the student's funding (Loans, PELL, etc...) on the COD website, prior to joining Global's Services. Clients will complete the spreadsheet (above) and submit it to the Prioryeardraws@globalfas.com email address. Global will originate the funding on the COD website and then begin the draw down process for your student's funding. Since this spreadsheet will contain personal information, the spreadsheet will need to be password protected. The password will need to be sent in a separate email.  If a client does not have the ability to password protect the spreadsheet, they can place a non-password protected spreadsheet on their SFTP site. Email Global's Accounting Team (Prioryeardraws@globalfas.com) to advise of the file location and file name that needs to be processed.

***Note***

Loans must be originated prior to a student's LDA (Last Day of Attendance) in order to be disbursed. Clients will only request funding on this spreadsheet once the student becomes eligible for the funding to be drawn. A student's funds cannot be drawn if they have not started a future term/payment period or Direct Loans while they are on a Leave of Absence (LOA).

For student's funding not disbursed through SAINT Director.

Clients will utilize the Mid-Year Refunds Spreadsheet when it has been determined that funding needs to be returned (Ex. R2T4 Calculations). Clients will need to complete this spreadsheet and submit it to the Refunds@globalfas.com email address. Since this spreadsheet will contain personal information, it will need to be password protected. The password should be emailed in a separate email address. If a client does not have the ability to password protect the spreadsheet, they can place a non-password protected spreadsheet on their SFTP site. Email Global's Accounting Team (Refunds@globalfas.com) to advise of the file location and file name(s) that needs to be processed.

***Note***

Once spreadsheet has been submitted to Global for processing, the client will need to initiate the ACH transfer of fund(s) to their applicable Federal Funds Bank Account. Global will then ensure the funds are returned via the G6 system and update in COD.