IDE Cobol
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Full user review
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"Only for hardcore people who need to learn cobol syntax"
Pros
It's a free cobol interpreter environment that does enough for students to get a hang on the syntax. It also runs perfectly fine on XP, unlike some other free COBOL compiler from a reputable company who just so happens to charge money from students who want their-up-to-date cobol compiler.
Cons
Firstly, it uses an old COBOL standard. It also doesn't throw enough error messages when you write something wrong. Lastly, it doesn't have enough documentation.