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CARES Act – Emergency Financial Aid Grants to Students Required Report

The CARES Act designates funds under the Higher Education Emergency Relief Fund to provide, among other things, direct grant assistance to students to cover expenses related to the disruption of campus operations due to coronavirus. Illinois Institute of Technology (“Illinois Tech”) submitted the Certification and Agreement form to participate in this funding program on April 9, 2020, and Illinois Tech received its allocation under this funding program on April 28, 2020.

In accordance with the guidance, posted on May 06, 2020, by the Office of Postsecondary Education of the U.S. Department of Education, relating to the Higher Education Emergency Relief Fund (HEERF) Reporting - Emergency Financial Aid Grants to Students (the “Guidance”), each HEERF participating institution must post the information listed below on its website. Accordingly, this posting is being made pursuant to and in accordance with the Guidance.  

The Certification and Agreement that Illinois Tech entered into to receive these HEERF funds directs it to submit an initial report (the “30-day Fund Report”) to the Secretary 30 days from the date of its Certification and Agreement.

In the Guidance, the Department indicates that it would like to receive the most current information from the date when the institution received its allocation for emergency financial aid grants to students. Accordingly, the Department indicates therein that said information must be posted 30 days after the date when the institution received its allocation under of these funds under the CARES Act and updated every 45 days thereafter.

Consistent with its Certification and Agreement, Illinois Tech it electing to post publically the required information as of May 9, 2020, which is 30 days after the date of its Certification and Agreement.  It will update this information on May 28, 2020, which is 30 days after it received its allocation, and it will update this information 45 days thereafter, which will be July 12, 2020, and every 45 days thereafter. 

With this, as required by the Guidance, Illinois Tech reports the following:

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.

Illinois Tech acknowledges that it signed and returned to the Department the Certification and Agreement on April 9, 2020. and Illinois Tech 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.

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.

On April 28, 2020, Illinois Tech received $1,865,000 for Emergency Financial Aid Grants to Students.

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). 

Illinois Tech began accepting applications from students for awards from these funds as of May 6, 2020.  As of May 9, 2020, no awards have yet been made. Awards are expected in the near future.

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.

Illinois Tech estimates that approximately 2,800 students are eligible to participate in programs under Section 484 of Title IV of the Higher Education Act of 1965 and are therefore eligible to be considered to receive Emergency Financial Aid Grants.

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.

Illinois Tech began accepting applications from students for awards from these funds as of May 6, 2020.  As of May 9, 2020, no awards have yet been made. Awards are expected in the near future.

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.

The process Illinois Tech will use to distribute funds to students, consistent with applicable regulations and guidance from the U.S. Department of Education, are detailed here.

7. Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants.

All students eligible to apply for awards in accordance with Illinois Tech’s process (see answer to question 6 above) were encouraged to apply on Wednesday, May 6, 2020. A copy of the communication can be found here.  Illinois Tech has not provided any further instructions, directors or guidance to its students at this time.