Federal Reporting Requirements

30-Day Report and Disclosure – August 20, 2020

The following information is provided based on guidance from the Department of Education Electronic Announcement, dated May 6, 2020.  This applies to Higher Education Emergency Relief Funds (HEERF) fund only.

  • North Central Institute (NCI) has signed and returned to the Department the Certification and Agreement and intends to use the mandated amount of at least 50% of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.

 

  • NCI was allocated and on August 4, 2020, received $20,130.00 in HEERF Emergency Financial Aid Grants for students.

 

  • $20,130.00 of the Emergency Financial Aid Grant funds have been distributed to students as of August 5, 2020.

 

  • There are 29 students who are or could be eligible to participate in the Federal student financial aid programs under Section 484 of the Higher Education Act of 1965, and thus are eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.

 

  • 28 students received the Emergency Financial Aid Grant.

 

  • The method used to determine which students receive Emergency Financial Aid Grant funds and how much each would receive was calculated as follows:

 

      • Students who are eligible to file a FAFSA and were actively attending classes as of the date the funds were received, August 4, 2020, were considered for the grant.
      • COVID-19 has impacted each student in a variety of ways. The funds were allocated fairly, considering full-time and part-time status.

 

  • Funds were disbursed directly to students whether or not a current balance was owed to NCI. Disbursements were recoded in student files as “CARES Act HEERF” and paid via paper check, signed for by each student.

 

Students received a letter with their grant money that included information on the HEERF funds, and that the Department of Education has specifically instructed these funds are “for the sole and exclusive purpose of providing emergency financial aid grants to students for their expenses related to the disruption of campus operations due to coronavirus, such as food, housing, course materials, technology, health care, and child-care expenses”.  And by accepting these funds the student is confirming they have a qualifying expense.