CARES Act Reporting

HIGHER EDUCATION EMERGENCY RELIEF FUND REPORTING: EMERGENCY FINANCIAL AID GRANTS TO STUDENTS

91AV 30 Day Fund Report

Overview

91AV 30-Day Fund Report Overview: Section 18004(e) of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or the “Act”)), Pub. L. No. 116-136, 134 Stat. 281 (March 27, 2020), directs institutions receiving funds under Section 18004 of the Act to submit (in a time and manner required by the Secretary) a report to the Secretary describing the use of funds distributed from the Higher Education Emergency Relief Fund (“HEERF”).

On May 6, 2020, the U.S. Department of Education, Office of Postsecondary Education posted their reporting requirements for HEERF participating institutions.

Each HEERF participating institution is responsible for providing this information in report format (the “30-day Fund Report”). In addition, these participating institutions are required to post the information listed below on the institution’s primary website. Accordingly, the following information will be easily accessible to the public and made available 30 days after the date when the institution received its allocation under 18004(a)(1) and updated every 45 days thereafter.

The 91AV (91AV) hereby addresses questions for the “30-day Fund Report”:

  1. An acknowledgement that the institution signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.

    91AV Response: 91AV completed and submitted the Funding Certification Agreement on Friday, April 15, 2020. A team was established from financial aid, student affairs and finance and administration in order to deliver 50% of the funding to students impacted by the COVID - 19 pandemic.
     
  2. The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.

    91AV Response: 91AV received $682,916 in funding to be distributed among its applicants.
     
  3. 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).

    91AV Response: No funding was given to students at the initial 30-day reporting period.
     
  4. The estimated total number of students at the institution 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.

    91AV Response: We anticipate up to 1,000 students to participate in the program.
     
  5. The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.

    91AV Response: On May 18, 2020, 91AV awarded $432,500 to 865 students in emergency Financial Aid Grant from the CARES Act Funds program.
     
  6. The method(s) used by the institution to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act.

    91AV Response: We are using an application process for students to apply for the funding. Students are required to complete an application and specifically cite the emergency financial need and extenuations factors causing hardship. 

    91AV has determined to spread the funding to as many students as possible as quickly as possible; therefore, a $500 emergency CARES Act payment was sent to students deemed eligible in accordance with CARES Act guidelines that submitted an application.

    91AV will continue to work with students in hardship situations and award funding on a case-by-case basis until funds are exhausted.
     
  7. Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants.

    91AV Response: We have sent emails to students to encourage them to apply for the CARES Grant funding. The instructions are straight forward and students are able to access the application from 91AV website. We provided detailed instructions and FAQ information on CARES Act Funds. In addition, we also posted information to University COVID-19 Alerts.  We are monitoring applications received and responding as soon as possible to requests and questions.