The CARES Act and the Higher Education Emergency Relief Fund (HEERF) Reporting Disclosure
Introduction: After the President’s declaration of national emergency on March 27, 2020, the CARES Act Higher Education Emergency Relief Fund was enacted to provide funds to institutions to provide emergency financial aid grants to eligible students whose lives have been disrupted by the COVID-19 pandemic, to cover expenses such as food, housing, course materials, technology, health care, and child-care expenses. The Student Emergency Grant funds must be made available directly to students meeting eligibility criteria in section 484 of the Higher Education Act (HEA). Institutions have the responsibility of determining how grants will be distributed to students, how the amount of each student grant is calculated, and the development of any instructions or directions that are provided to students about the grant.
Certification and Agreement: On May 18,2020, Yeshiva Karlin Stolin signed and returned to the Department the Certification and Agreement and the assurance that the Yeshiva Karlin Stolin has used, or intends to use, no less that 50 percent of the funds received under section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
Amount of Funding Received: Pursuant to the Certification and Agreement [for] Emergency Financial Aid Grants to students, Yeshiva Karlin Stolin is eligible to receive up to $153,061.00 in HEERF Student Share Grant Funds.
Amount Distributed To Date: Yeshiva Karlin Stolin has to date of this submission, begun the distribution of the HEERF funds. $106,000.00 has been distributed to low income students that have demonstrated eligibility.
Estimated Number of Eligible Students: The estimated total number of students at the institution, eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act is 102.
Number of Students Received Funding: Yeshiva Karlin Stolin has to date distributed $106,000.00 to 102 students.
Methodology To Determine Which Students Receive Emergency Financial Aid: The Method used by Yeshiva Karlin Stolin to determine which students receive Emergency Financial Aid Grants and how much they would receive is based on expenses for food, course material, equipment, and health care related expenses needed to participate in the educational program due to the disruption of campus operations, which has been calculated to be $500-$2,500 per student.
Yeshiva Karlin Stolin will validate each student’s eligibility. Students must demonstrate eligibility by having filed a FAFSA for the school year of 2019-2020.
The initial method of distribution will be first to eligible married students who are determined to have the greatest need. Yeshiva Karlin Stolin has already reviewed the EFC (Expected Family Contribution) of all such students and distributed funds. Yeshiva Karlin Stolin anticipates distributing another round of funds to married students and then dependent students from lowest to highest EFC.
Instructions Given To Students: Students received the following instructions with their grants: “As per the CARES Act, these grants are to be used for expenses that are related to the disruption of campus operations due to COVID-19, including things like course materials and technology as well as food, housing, health care, and childcare.”