Cash Monitoring 1 (CM1)

Direct Loan schools following Cash Monitoring 1, or CM1, may draw down cash through GAPS or have cash deposited in their bank accounts based on actual disbursements submitted to and accepted by COD. Pell Grant schools following CM1 may draw down cash through GAPS based on disbursements accepted by COD. A CM1 school will not have access to cash until it has actual disbursements posted on COD. For both Pell and Direct Loan, records will not be funded by COD earlier than seven days before the disbursement date. For more information and the business rules that apply to this funding method, see the 2004-2005 COD Technical Reference, Volume III, Section 2 – Funding Methods.

For more information see the following lesson:

DL Setup - Required

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