CARES ACT
FEDERAL EMERGENCY GRANT POLICY
Purpose:
On March 13, 2020, the President of the United States declared that a national emergency concerning the COVID-19 outbreak began on March 1, 2020, as stated in “Declaring a National Emergency Concerning the Novel Coronavirus Disease (COVID-19) Outbreak,” Proclamation 9994 of March 13, 2020, Federal Register Vol. 85, No. 53 at 15337-38. The Department considers this declaration to be equivalent to a federally declared major disaster, as defined in The Robert T. Stafford Disaster Relief and Emergency Assistance Act in 42 U.S.C. § 5122(2) (Stafford Act).
As part of the national emergency, the “Coronavirus Aid, Relief, and Economic Security” (CARES) Act was passed and implemented on Friday, March 27, 2020. Part of the CARES Act includes Emergency Stabilization Funds provided to each institution intended to provide emergency aid to needy students and the institution as a result of interruptions related to COVID-19, or the Coronavirus.
Emergency Relief Funds Are Not Title IV Federal Student Aid Funds:
As indicated in the letter to University Presidents and the Certification and Agreement item #3 last paragraph, “The Secretary does not consider these individual emergency financial aid grants to constitute Federal financial aid under Title IV of the Higher Education Act.”
Further, student recipients of the emergency grant are not to have these funds counted as Estimated Financial Aid (EFA) in their current or future financial aid award package. In addition, they are not to be included as income in the methodology for Federal student aid (i.e., counted as income when completing a future FAFSA form).
Please see the section labeled “COVID-19 References” at the bottom of this policy citing the above regulations.
SUM Bible College & Theological Seminary CARES Act Emergency Stabilization Policy and Procedure for Students:
SUM Bible College & Theological Seminary signed and returned to the Department the Certification and Agreement application for funds under Section 18004 of the CARE Act. As documented in the COVID-19 Reference section of this policy, SUM Bible College & Theological Seminary, has been allocated $26,609.00 in Emergency Stabilization Funds. 50%, or $13,305.00, must go directly to students who meet the below eligibility requirements. SUM Bible College & Theological Seminary has one year from the date of the law to expend Emergency Grant Funding.
Student Eligibility Requirements:
As amended in the “Higher Education Emergency Relief Fund” Q&A, under Section 18004 of the CARES Act (reference below), to be considered for the Emergency Grant, applicants must be:
- Emergency grant funds are only available to U.S. Citizens and eligible non-citizens with a social security number. International, DACA, or non-citizens are not eligible for the grant.
- Student Emergency grant funds cannot be used to pay a student’s outstanding or overdue balance for tuition and fees even at the student request
- Emergency grant funds will go to students that demonstrate a high need. Highest need was derived from 2019-20 FAFSA.
REPORTING PROCEDURES AND CONTROLS:
In accordance with Section 18004(e) of the CARES Act, SUM Bible College & Theological Seminary will report to the Secretary 30 days from the date of the Certification and Agreement and every 45 days thereafter in accordance with 2CFR 200.337 (or as directed by the Secretary) the following:
- Instruction or direction was given to students about the grants
- Information on our webpage
- Information on the student’s portal
- How grant funds were distributed to students
- Grant funds are distributed automatically to qualifying students via the Student Accounts based on the student’s need
- Disbursements will be made via the Business Office to students
- The amount of each grant awarded to each student
- A spreadsheet will be kept by the Financial Aid Department and will be reconciled with Business Office Ledger
Reporting:
| Total Students with Highest Financial Need | Amount Awarded to Each Students | Total Number of Students Awarded | Amount Awarded up to Date (8.8.20) |
| 133 | $100 | 133 | $13,305 |
Quarterly Budget and Expenditure Reporting under CARES Act (Quarter ending 12-31-20)
Quarterly Budget and Expenditure Reporting under CRRSAA Act (Quarter ending 3-31-2021)
Quarterly Budget and Expenditure Reporting under CRRSAA Act (Quarter ending 6-30-21)
