Department of Education September 27, 2010 – Federal Register Recent Federal Regulation Documents

In accordance with the Privacy Act of 1974, as amended (Privacy Act), 5 U.S.C. 552a, the Chief Operating Officer for Federal Student Aid (FSA) of the Department of Education (Department) publishes this notice to rename and revise the system of records entitled ``Recipient Financial Management System (RFMS)'' (18-11-02). In this notice, the Department is replacing the RFMS system with the ``Common Origination and Disbursement'' (COD) system. The COD system is designed to assist the Department in administering Federal grant and loan programs authorized by title IV of the Higher Education Act of 1965, as amended (HEA), and to include information needed under Federal grant programs created by the Higher Education Reconciliation Act of 2005, title VIII of Public Law 109-171. The COD system will contain records associated with the activities required of participating educational institutions to originate an award (establish the eligibility of an individual to receive a Federal grant or loan) from those programs authorized by the HEA for which the Department provides funds directly to those institutions on a student- level or recipient-level basis. This system will also contain records evidencing the disbursement of program funds by participating educational institutions to those individuals whose eligibility was previously established. The Department seeks comments on the proposed routine uses described in this altered system of records notice, in accordance with the requirements of the Privacy Act.