CARES Act – Emergency Financial Aid Grants to Students Required Report
The CARES Act designates funds under the Higher Education Emergency Relief Fund (HEERF) to provide, among other things, direct grant assistance to students to cover expenses related to the disruption of campus operations due to coronavirus. Students may use the funds on eligible expenses under cost of attendance such as food housing, course materials, technology, healthcare and child care.
Research Medical Center/Research College of Nursing (Research) submitted the Certification and Agreement form to participate in this funding program on April 23, 2020, and Research received the first half of its allocation under this funding program on May 7, 2020. The second half, the institutional portion, of the funds was received July 23, 2020. Although these funds were allowed to be used for institutional costs related to the pandemic, Research dedicated all of these monies to direct student payments.
The following information is provided by Research as required by the Department of Education (ED) in order to comply with the reporting requirements under the CARES Act. This is Research’s first 30-day progress report and represents information as of May 21, 2020. This information will be updated on June 7, 2020, which is 30 days after Research received its allocation. Additional reports will be provided every 45 days thereafter.
Per notice published by the Dept of Ed (DOE) in the Aug 31, 2020 Federal Register, updates will be shared on a calendar quarter basis starting with the period ending 9/30/20.
Research acknowledges that the signed Department the Certification and Agreement was received by the Department of Education on April 23, 2020. Research acknowledges its assurance that it intends to use no less than 50% of the funds so received to provide Emergency Financial Aid Grants to students.
Research is eligible to receive $91,737 from the CARES Act; 50% of which ($45,869) was released on May 7, 2020 for Emergency Financial Aid Grants to Students. The remaining $45,868 was received July 23, 2020.
Research began accepting applications from students for awards from these funds as of April 27, 2020. As of June 12, 2020, $42,619.35 worth of awards have been processed, with the remaining $3,069.65 still processing.
As of July 5, 2020, all $45,869 of the funds of the first half have been distributed. This is the final report for the student portion of the HEERF CARES Act funds.
The second tranche of the CARES funds was received July 23, 2020. As of August 19, $41,666.74 has been paid out to students. The remaining $4,201.26 will be processed for payment once student paperwork has been received and processed. As of Sep 30, 2020 checks have been written for the remaining institutional funds to be mailed to students. Final reporting for the institutional portion is awaiting rule finalization from DOE.
Research determined that all full-time and part-time students enrolled in Spring 2020 courses were eligible to be considered for Emergency Financial Aid Grants.
Research began accepting applications from students for awards from the first round of funds as of April 27, 2020. As of May 21, 2020, 51 recipients were awarded allocations totaling $45,869 ranging from $475 to $1,554.86. The second half of the grant was allocated to 53 students as of July 23, 2020, with individual payments ranging from $598.12 to $1,441.26.
The process Research used to distribute funds to students, consistent with applicable regulations and guidance from the U.S. Department of Education, are detailed here.
All students eligible to apply for awards in accordance with Research’s process (see answer to question 6 above) were encouraged to apply on April 27, 2020. A copy of the communication can be found below. No further instructions, directors or guidance was provided.