Schools That Were Not Allocated CARES Funding Can Now Apply for Reserve Funds
By Jackie Cottom, NASFAA Policy & Federal Relations Staff
The Department of Education (ED) has released information on how potentially-eligible institutions that were not allocated funds in the original formula-based allocation table under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act can now apply for the reserve fund. Several institutions were not allocated funds during the initial round of awards because the Integrated Postsecondary Education Data System (IPEDS) enrollment and Federal Student Aid (FSA) Pell Grant data used during ED’s methodology for calculating allocations was unavailable.
In order to access both the student portion and institutional portion of the allocation under 18004(a)(1) of the CARES Act, institutions need to submit the Funding Certification and Agreement form for both the student and institutional portion of funds no later than Aug. 15, 2020.
By the same deadline, the institution will also need to provide an application to [email protected], including the following data:
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Full-time equivalent enrollment and the percentage of students enrolled exclusively in distance education for the 2018-19 academic year (AY). If an institution did not have enrollment in AY 2018-19, the most recent data for AY 2019-20 that existed prior to March 13, 2020 is acceptable.
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Number of full-time equivalent enrollment of Pell Grant recipients for AY 2018-19. If the institution did not have enrollment in AY 2018-19, the most recent data for AY 2019-20 that existed prior to March 13, 2020 and the percentage of those Pell Grant recipients who were enrolled exclusively in distance education is acceptable.
The reserve funds will be consistent with ED’s initial approach of 18004 (a)(1) allocations, as the institution's total allocation consists of two separate grants, the student portion and institutional portion.
A notification from ED, including the application, has been shared with college and university presidents that have been identified as potentially eligible and were not included in the original allocation of 18004(a)(1) CARES Act funding.
Publication Date: 7/23/2020
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