Reporting Requirements for CARES Act Emergency Financial Aid Grant for Students
Posted on June 20, 2020
Northeast Technical Institute signed and returned to the Department on 4/14/2020 the Certification and Agreement. Northeast Technical Institute 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.
The total amount of funds that Northeast Technical Institute will receive from the Department pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students is $151,768.
As of 6/16/2020 Northeast Technical Institute has released $55,000 of the Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
Northeast Technical Institute estimates 223 students at our institution may be eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus may eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act. This number will continue to increase where we have one year from 4/14/2020 to disburse the funding.
As of 6/15/2020, there are 110 students at Northeast Technical Institute that has received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act.
Northeast Technical Institute has set 4 requirements for students to be eligible for the Emergency Financial Aid Grant. The first requirement is that students must be in an eligible Title IV program. The second requirement is that students must have a status of either Active, Leave of Absence, or Intent to Return. The third requirement is that students must complete NTI’s COVID-19 survey and present financial need as defined in the Higher Education Act. The fourth and final requirement is that they must have a completed FAFSA on file and clear any C-Code(s), and/or V4 or V5 verification requirements. If students meet all requirements listed above, $500 is the amount each student will receive under Section 18004(a)(1) of the CARES Act.