The closeout deadline for Pell is September 30, 2025. For Direct Loans, the closeout date is July 31, 2025.
By Siobahn Arbogast
As the award year nears the close for both Pell 2024-2025 and Direct Loan 2023-2024, we would like to remind the financial aid community of upcoming deadlines.
Pell 2024-2025
The closeout deadline for 2024-2025 Pell is September 30, 2025.
1. After the closeout deadline, the COD system will no longer accept new or increased awards or increased disbursements without prior approval of Extended Processing.
Downward adjustments (e.g., refunds) and non-financial changes (e.g., dates), do not have to have approval of Extended Processing to update the COD system.
2, If Extended Processing is needed, the Department of Education recommends that institutions complete a final review prior to the request to limit the number of requests for Extended Processing.
Direct Loan 2023-2024
The closeout deadline for 2023-2024 Direct Loan is July 31, 2025.
1. After the closeout deadline, the COD system will no longer accept new or increased awards or increased disbursements without prior approval of Extended Processing.
Downward adjustments (e.g., refunds) and non-financial changes (e.g., dates), do not have to have approval of Extended Processing to update the COD system.
2. If Extended Processing is needed, the department recommends that institutions complete a final review before the request to limit the number of requests for Extended Processing.
Please note that the deadline for updating Pell Grant student data in COD is the last business day of the federal fiscal year five years after the award year in question. For example, the deadline for the 2019-2020 award year is September 30, 2025. For Direct Loans, the deadline is currently any award year prior to 2011-2012. Therefore, currently, refunds and non-financial adjustments can be made for Direct Loans from 2011-2012 forward and Pell from 2019-2020 forward.
Siobahn Arbogast is Global’s Director of Title IV Accounting
For information on more topics related to student financial aid, please visit our blog page at https://globalfas.com/blog/
July 1, 2025