CARES Act Information
The CARES Act requires all colleges and universities participating in the program to provide access to the following information:
- Evangelical Seminary has signed and returned to the Department of Education the Certificate and Agreement for the Emergency Financial Aid Grants to Students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This document is an assurance that Evangelical Seminary has used, or intends to use, no less than 50% of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
- The total amount of funds that Evangelical Seminary has received from the Department for Emergency Financial Aid Grants to Students is $10,330.
- The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of submission (i.e., as of the 30-day Report and every 45 days thereafter) is $7,721.
- The estimated total number of students eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act is 155. (Eligible students consists of students enrolled in a Masters or Doctoral degree program and eligible for a federal student loan.)
- The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act is 32.
- Evangelical Seminary’s method to determine which students receive emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act was based on the following: An application process has also been established to allow other students to apply for grants based on the cost of any technology related expenses incurred by the student from March 13, 2020 until the grant funds are expended. Eligible students are defined as degree seeking students enrolled in a Masters or Doctoral degree program and enrolled in at least six (6) credits in a Masters degree or Doctoral degree program during the Spring 2020 semester.
- Evangelical Seminary sent the following email to students concerning the Emergency Financial Aid Grants.
Recently legislation was enacted that created the CARES Act. Under this act, Evangelical Seminary received funding that must go directly to students to cover expenses related to the disruption of normal institutional operations due to the COVID-19 pandemic. Evangelical Seminary has chosen to reimburse students for any technology related expenses incurred from March 13, 2020 until the funds are exhausted. Please see the Emergency Relief Fund Application for additional requirements.
CARES Act Institutional Reporting: