What does COD mean in financial aid?
Common Origination and Disbursement
Common Origination and Disbursement (COD) Process. The COD Process is a common process integrated with a system designed to support origination, disbursement and reporting for Direct Loan, Pell Grant, and the Teacher Education Assistance for College and Higher Education (TEACH) Grant.
What does scheduled net disbursement mean?
Net Disbursement Amount means the proceeds of the Financial Transaction less the aggregate amount of any commissions, fees and costs related to such Financial Transaction and its preparation and execution, as referred to in Clause 6(4), in relation to any Instalment.
How long does nelnet take to process payment?
When will my payment be posted to my Nelnet account? Once payments are received, it can take up to two business days to post to your account. A payment made online, over the phone, or through check/money order sent by you or your bill pay provider is posted effective on the date of receipt.
Why is my Pell Grant still pending?
Pending or Memo: Financial aid in pending or memo status means that this type of financial aid is available but has not yet arrived (for example, scholarships from non-Macalester agencies) or there is something missing from your financial aid file.
What does Pell overpayment mean?
A Pell overpayment occurs any time the student receives a payment. that is greater than the amount for which the student is eligible.
How can I get my student loan money?
Refunds. If there are any funds from grant or student loan disbursements left over once tuition, fees, and room and board are paid, the remaining balance, often called a credit balance, will be paid directly to you in the form of cash or check, or deposited into your bank account.
Do private loans look at your credit score?
For private loans: Private loans require that at least one borrower have good credit. The lender will perform a credit check to determine whether you qualify for the loan. The higher your credit score, the lower the interest rate you’ll likely receive.