G5 is an important system for Title IV-eligible institutions, and all schools approved for Title IV funding should be familiar with it. In this short blog post, we will provide an overview of G5, explaining what it is and how to set up an account. Whether you’re a school administrator, financial aid officer, or other staff member involved in managing Title IV funding, this post will provide you with the information you need to get started with G5.
G5 is a Department of Education system used to manage federal grant funds. The G5 payment system is used to request and receive funds, report expenditures, adjust drawdowns, and access current program awards and payment information.
Schools may use G5 to request cash for:
- Direct Loan Program
- Federal Pell Grant Program
- Federal Supplemental Educational Opportunity Grant (FSEOG) Program & Federal Work-Study (FWS) Program – Eligible for a year after being Title-IV approved
How to set up G5
Before a school can receive funding through G5, the school must be registered with the System for Award Management (SAM) and received a Program Participation Agreement (PPA) from the Department of Education.
For a school to be granted access to G5, several items are required:
- Unique Entity Identifier (UEI)
- Taxpayer Identification Number (TIN #)
- Bank Account information
As a Title IV-eligible institution, the G5 system is a critical component of managing federal grant funds. G5 is a centralized platform used by the U.S. Department of Education to streamline the management of federal funds. It allows schools to manage all aspects of their federal grants and provides robust reporting capabilities to ensure compliance with federal regulations.
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Sources:
https://fsapartners.ed.gov/sites/default/files/attachments/bbook/2013BlueBookVol5Ch1.pdf
About:
AUTHOR
Christal Carson
Software & Financial Aid Trainer, FAME
Christal brings the knowledge and experience from our Customer Service and Financial Aid Processing teams to her latest role on our Training team at FAME. She has 12 years of experience in the Financial Aid field with an extensive focus on Title IV Regulatory matters including the packaging of Pell and Direct Loans.
EDITOR
Sally Samuels
Director of Compliance, FAME
Sally is one of the country’s leading authorities on Federal financial aid administration with 41 years of “in the trenches” experience. As a respected Industry leader, she is frequently called upon to speak at School, Accrediting, Regional and State conferences as well as to act as school liaison during program reviews and compliance audits. Having processed, reviewed and taught financial aid for 42 years Sally’s experience includes representation at over 300 program reviews and certification visits for postsecondary institutions.
