CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT

Higher Education Emergency Relief Fund Reporting

Report and Disclosure
***FINAL report that covers all remaining HEERF fund expenditures for Section 18004(a)(1) Student Portion funds.***

Coronavirus Aid, Relief, and Economic Security (CARES) Act | Higher Education Emergency Relief Fund Reporting
Emergency Financial Aid Grants to Students - Fox Valley Technical College
***FINAL*** Quarterly Report and Disclosure Requirement (to be published by April 10, 2021)

The CARES Act Higher Education Emergency Relief Fund provides funding to institutions for emergency financial aid grants to students for student expenses related to the disruption of campus operations due to coronavirus (including eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, health care, and child care).

Fox Valley Technical College’s grant reporting for the quarter ending March 31, 2021 is as follows:

  1. Fox Valley Technical College (FVTC) acknowledges it signed and returned to the U.S. Department of Education the Certification and Agreement on April 13, 2020 and gives the assurance that FVTC will use no less than 50% of the funds received under section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
  2. The total amount of funds FVTC received from the U.S. Department of Education for distribution to students is $1,299,408.
  3. The total amount of Emergency Financial Aid Grants distributed to students under section 18004(a)(1) of the CARES Act as of March 31, 2021 is $1,299,408; $1,915.13 of which was disbursed since the last quarter ending December 31, 2020.
  4. The estimated total number of FVTC students eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965, and thus eligible to received Emergency Financial Aid grants to students Section 18004(a)(1) of the CARES Act is 5,697 as of March 31, 2021.
  5. The total number of students who have applied for and received an Emergency Financial Aid Grant under section 18004(a)(1) of the CARES Act as of March 31, 2021 is 1,222.
  6. FVTC formed a task force to establish the online application method to guide which students were to receive Emergency Financial Aid Grants and the amount of such grants.
  7. The instructions, directions, and guidance provided by FVTC to all students concerning the Emergency Financial Aid Grants were sent via College email and text messaging. Instructions on how to complete the CARES Fund application are provided within the email and on the FVTC Emergency Aid application (www.fvtc.edu/fvtccares). Information includes:
    • The purpose of funding;
    • How students receive funding (electronic funds transfer or paper check mailed to their permanent address on record);
    • Expectation that the money is used for purposes awarded;
    • How to apply for funding (link to online application form);
    • Whom to contact with questions.

The Internal Revenue Service (IRS) has determined these funds are not taxable.

Previous CARES Reports - Student Portion

 

Institutional Portion

The CARES Act Higher Education Emergency Relief Fund provides funding to institutions to cover institutional costs associated with significant changes to the delivery of instruction due to the coronavirus.

  1. Fox Valley Technical College (FVTC) acknowledges it signed and returned to the U.S. Department of Education on April 22, 2020 the Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund Formula Grants Authorized by Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
  2. The total amount of funds awarded to FVTC from the U.S. Department of Education for institutional expenses is $1,299,408.

FINAL CARES Institutional Portion Quarterly Report

Previous CARES Quarterly Reports