Finding Text
Criteria: Institutions are required to reconcile all Direct Loan (DL) disbursements and submit required records to the Department of Education through the Common Origination and Disbursement (COD) system. Each month, the COD provides institutions with a School Account Statement (SAS) data file which consists of a Cash Summary, Cash Detail, and (optional at the request of the school) Loan Detail records. The school is required to reconcile these files monthly to the institution?s financial records (?DL reconciliations?). Condition: We requested DL reconciliations for the months of September 2021 and February 2022. Cause: The University could not provide completed DL reconciliations for these months.