The U.S. Department of Education (ED) is the agency responsible for education policy within the U.S. Federal Government. ED’s mission is to “promote student achievement and preparation for global competitiveness by fostering educational excellence and ensuring equal access.” To fulfill this mission, ED establishes federal education funding policies, administers and monitors funds, oversees research on America’s schools, and focuses national attention on important issues in the American education system.
ED operates 244 programs that touch every area and level of education. One of ED’s key roles in postsecondary education is to provide Title IV federal student aid to eligible students and their families. The Office of Federal Student Aid (FSA) is the organization within ED that is responsible for managing Title IV federal student aid programs and processes.
Accenture helped the U.S. Department of Education’s Office of Federal Student Aid design, build, implement and operate a Common Origination and Disbursement System (COD) to process originations and disbursements for Federal loans and grants. COD has helped to achieve significant productivity and efficiency savings and has originated and disbursed over $500 billion in loans and grants to over 34 million students since its inception in 2002.