Metro 2 Account Type Code 69: Government Grant

Specification

Code	69
Meaning	Government Grant
Field	Account Type (Field 15)
Record	Base Segment
Length / position	2 chars · 84–85
Category	Government Obligations
CRRG reference	CRRG Exhibits 1 & 2 (Account Type Codes)

A grant is money given without an expectation of repayment. It becomes a reportable obligation only when a condition converts it into a debt.
There was no loan at origination, so there is no note, no interest rate, and no original amortization schedule. The repayment terms are created by the conversion event.
Distinct from an overpayment (70 or 75), where the agency paid more than it should have. With a grant conversion, the payment was correct at the time and the obligation arose later.
Does NOT mean a grant the consumer received and kept lawfully. A grant with no repayment obligation is not a tradeline and must never be furnished.
Because the obligation is created by a conversion event, the Date Opened is the date the repayment obligation arose, not the date the grant was disbursed.

1An agency reports a grant that converted to a repayable obligation after the recipient did not satisfy a service or enrollment condition.
2An agency reports a converted grant being repaid on an agreed monthly schedule.
3An agency reports a converted grant that was repaid in full and closed at a zero balance.
4An agency reports a converted grant that went unpaid and entered an administrative collection process.
5An agency reports a converted grant on which a repayment agreement was negotiated after an initial delinquency.

Report the converted amount as the Original Loan Amount and the outstanding amount as the Current Balance.
Set Date Opened to the date the repayment obligation was created, not the original disbursement date. Backdating to the disbursement misstates the age of the tradeline.
Do not furnish a grant that carries no repayment obligation, even when the agency has a record of the disbursement.
Report a negotiated repayment schedule in Terms Duration and Scheduled Monthly Payment so the account behaves as the installment obligation the portfolio type declares.
Do not recode a converted grant to a direct loan code. The distinction is meaningful to a reader of the file.

A file can be structurally valid and still be wrong. These are the cross-field conditions Account Type Code 69 has to satisfy.

Portfolio Type must be I (Installment), which is why a repayment schedule has to exist before the tradeline is furnished.
Portfolio Type I requires Terms Duration and Scheduled Monthly Payment. If no repayment schedule has been agreed, the account is not ready to furnish as Portfolio Type I.
Credit Limit must be blank or zero.
Date Opened must not precede the conversion event, and it must not be in the future relative to the Date of Account Information.
Original Loan Amount is the converted grant amount and must be greater than zero. A zero original amount on a funded installment tradeline is a hard edit failure.
Date of First Delinquency, if the repayment obligation goes unpaid, runs from the first missed payment under the repayment agreement, not from the original grant date.
Terms Frequency should match the agreed repayment interval, normally M (Monthly), and must agree with the Scheduled Monthly Payment you report.