HEERF I – CARES Grant
The following describes how funds received from the Coronavirus Aid, Relief, and Economic Security (CARES) Act have been apportioned for student and institutional purposes.
Student Portion of CARES Act Funding
The Federal Government established the Higher Education Emergency Relief Fund (HEERF) under the Coronavirus Aid, Relief, and Economic Stability (CARES) Act. The CARES Act was signed by the 45th U.S. President on March 27, 2020. This fund will allow the Fashion Institute of Technology to provide emergency grants to students experiencing financial hardship specifically due to the disruption of campus operations as a result of the COVID-19 pandemic.
The Fashion Institute of Technology acknowledges an authorized representative of the institution has signed and returned to the Department the Certification and Agreement and the institution has used, or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide Emergency Financial Aid Grants to students. The Grant Award Notice was approved on May 5, 2020.
Fashion Institute of Technology has received or will receive $3,517,700.00 from the Department of Education pursuant to the Certification and Agreement for Emergency Financial Aid Grants to Students.
Fashion Institute of Technology has distributed the following CARES Act funding to students under Section 18004(a)(1) of the CARES Act.
- 30-Day Reporting—June 4, 2020
Fashion Institute of Technology has not yet distributed Emergency CARES Act Grants to students. - 45-Day Reporting—July 19, 2020
Since June 4, 2020, Fashion Institute of Technology has distributed $2,791,500 in Emergency CARES Act Grants to 1,884 students. - 45-Day Reporting—September 2, 2020
Since July 19, 2020, Fashion Institute of Technology has distributed $584,625 in Emergency CARES Act Grants to 395 students. The total amount distributed in CARES Act Grants to date is $3,376,125 to 2,279 students. - Quarterly Report—September 30, 2020
Since September 2, 2020, Fashion Institute of Technology has distributed $63,125 to students. The total number of students who have received a CARES Act Grant is 43. The total amount distributed in CARES Act Grants to date is $3,439,250 to 2,322 students. - Quarterly Report—January 10, 2021
Since September 30, 2020, Fashion Institute of Technology has distributed $78,450 to students. The total amount distributed in CARES Act Grants to date is $3,517,700 to 2,322 students.
Note: The Fashion Institute of Technology has contacted the recipients of the CARES Act grant via email to confirm receipt of their check. If the recipient did not receive their check, the Bursar placed a stop payment and reissued the check. If the recipient did not process their check within 120 days of the issue date the check was voided. The Bursar’s Office sends monthly emails to recipients who have not cashed their check and will continue this process until the end of May 2021. Funds not utilized will then be distributed to qualified students based on the methodology noted above.
Fashion Institute of Technology has determined an estimated 2,381 students at the institution are 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 based on the colleges own methodological framework for disbursal of funds.
Awarding Methodology
FIT has prioritized awarding of Emergency Financial Aid Grants to its students in the following manner (methodology):
Eligible Undergraduate Students*: Estimated 2,359
- Estimated Family Contribution (EFC) <$5,577: Estimated 2,000 students
- Estimated Family Contribution (EFC) $5,578–$10,000: Estimated 359 students
Eligible Graduate Students*: Estimated 22
- Estimated Family Contribution (EFC) <$5,577: Estimated 18 students
- Estimated Family Contribution (EFC) $5,578–$10,000: Estimated 4 students
* Eligible is defined by the plan as: Verified, No C flags, Meeting Satisfactory Academic Progress (SAP), Valid Estimated Family Contribution (EFC), and Meets HEA Section 484
Under Section 18004(a)(1) of the CARES Act, students received awards ranging from $1,325 to $1,571.13. (amended 11/09/2020)
Eligibility
FIT created a methodology for the distribution of the CARES Act funds based on federal guidelines. The college’s goal was to provide a CARES Act Grant to our neediest continuing degree-seeking undergraduate and graduate students based on their Estimated Family Contribution (EFC) from the 2019–2020 Free Application for Federal Student Aid (FAFSA). Eligible candidates were notified of their CARES Act Grant by the Financial Aid Services Office. If funds remain in the account after the initial distribution to the 2,381 eligible students, additional grants will automatically be considered and awarded. Appeals for a CARES Act Grant cannot be considered.
Repayment
There is no requirement for repayment of a Federal CARES Act Grant.
Impact on Financial Aid
This funding will not have any effect on your current or future financial aid eligibility.
For additional inquires, please contact the CARES Act committee by emailing [email protected].
Student Communications
Subject: Coronavirus Aid, Relief, and Economic Security (CARES) Act Information
Dear FIT Student,
The federal Coronavirus Aid, Relief, and Economic Security (CARES) Act authorizes colleges to award emergency grants to eligible degree-seeking enrolled undergraduate and graduate students for expenses related to the disruption of campus operations due to COVID-19, such as; food, housing, course materials, technology, health care, and child-care expenses. These funds are to be paid at 100% to the student and must not be used for any institutional related costs such as tuition, fees, on-campus housing, and meal plan charges.
FIT was awarded $3,517,700 in CARES Act funding and will award the CARES Act Grant to eligible students using two methods based on the Estimated Family Contribution (EFC) that follows federal regulations and SUNY guidance as of April 2020.
Eligible students are those who have previously filed the Free Application for Federal Student Aid (FAFSA) and met other federally mandated criteria including the following:
- Students must be eligible for federal Title IV financial aid in 2019-2020 and contribution (EFC) value is correct and meets the HEA Section 484 eligibility requirements.
- Students must be making Federal Satisfactory Academic Progress (SAP).
- Students must not have graduated from a bachelor’s degree program at the end of the spring 2020 semester.
- Students must not have graduated from an associate degree program at the end of the spring 2020 semester unless they are continuing their education toward a bachelor’s degree program at FIT.
- Students must self-certify their allowable expenses related to the impact of the COVID-19 on the FIT Acknowledgement Form.
Eligible candidates for a CARES Act Grant will automatically be notified by the FIT
Financial Aid Services Office via their FIT email address. The grant ranges from $1,325
to $1,500. Award recipients must submit the FIT Acknowledgement Form indicating acceptance
of the grant and the allowable expenses they have or will incur related to the impact
of COVID-19. Award recipients may also choose to decline the CARES Act Grant by checking
the box on the FIT Acknowledgement Form. Students may not appeal for additional grants
from the CARES Act fund.
In addition to and separately from the CARES Act Grant, the FIT Foundation Emergency
Fund and the State University of New York (SUNY) Matching Grant will be available
to degree-seeking undergraduate and graduate students for expenses not related to
tuition, fees, and/or on-campus housing and meal plans. Detailed information including
an application for the emergency funds will be available on the FIT Financial Aid
Services webpage by Monday, June 22, 2020. Should you have any immediate questions,
please contact the office at [email protected].
Best,
Catherine O’Rourke
Interim VP for Enrollment Management and Student Success
Subject: CARES Act Grant Notification and Acknowledgement Form
Dear << First Name >> << Last Name >>
FIT Student ID: << student id >>
The federal Coronavirus Aid, Relief, and Economic Security (CARES) Act authorizes colleges to award emergency grants to eligible degree-seeking enrolled undergraduate and graduate students for expenses related to the disruption of campus operations due to COVID-19, such as; food, housing, course materials, technology, health care, and child-care expenses. These funds will be paid directly to the student and must not be used for any institutional related costs such as tuition, fees, on-campus housing and meal plan charges.
FIT has tentatively awarded you a CARES Act Grant of $<< Amount >> for allowable expenses you have or will incur that are related to the disruption of campus operations due to COVID-19. The amount of your CARES Act Grant was based upon the college’s federal allocation of funds, the total number of eligible students, and your demonstrated financial need as determined by the 2019/2020 FAFSA.
In order for FIT to officially process your CARES Act Grant you must complete the information on the FIT Acknowledgement Form indicating that you have or will incur allowable expenses related to the disruption of campus operations due to COVID-19.
Please use this link to access the acknowledgement form through the FIT portal or click on the button below. You must also indicate if you will accept the grant once the FIT Committee reviews your completed acknowledgement form. You may also decline the grant by checking the box on the acknowledgement form. Please complete and submit the acknowledgment form by the date of July 15, 2020.
Upon receipt of the acknowledgement form indicating an acceptance of the grant, the FIT Committee will certify your eligibility and deposit the funds to your personal checking/savings account as a refund. If you have already set up your FIT E-Refund profile your grant will be deposited to your account on file.
If you have not done so, please follow these instructions to set up your FIT E-Refund profile: Log in to MyFIT, click on the Student Tab, Pay Student Account & View E-Bill, My Profile Setup, Electronic Refunds, Set up Account. Follow the screen prompts to complete your enrollment. Please note that due to New York State on Pause regulations, the issuance of your CARES Act grant via a refund check may be delayed if you do not set up your FIT E-Refund profile as noted above.
Please contact the FIT Financial Aid Services Office if you have any questions related to your CARES Act award. The team can be reached by email at [email protected].
Best,
Catherine O’Rourke
Interim VP for Enrollment Management and Student Success
Our mailing address is:
Fashion Institute of Technology
Seventh Avenue at 27 Street
New York, NY 10001
Institutional Portion of CARES Act Funding
The Fashion Institute of Technology acknowledges an authorized representative of the institution has signed and returned to the Department the Certification and Agreement for the Institutional Portion of the CARES Act funding. The institution has used, or intends to use, no more than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to cover institutional costs associated with significant changes to the delivery of instruction due to the coronavirus.
FIT has received $3,517,699 from the Department of Education pursuant to the Certification and Agreement for the Institutional Portion.
Quarterly Report—September 30, 2020
As of September 30, 2020, the Fashion Institute of Technology has spent $3,517,699.
The quarterly report, attached below, provides a breakdown of the use of funds.
Download REVISED September 2020 Quarterly Budget and Expenditure Reporting (.PDF)
Quarterly Report—December 31, 2020
All Institutional funding was spending as of September 30, 2020. There was no additional
spending between September 30, 2020 and December 31, 2020. The quarterly report, attached
below, provides a breakdown of the use of funds.
Download REVISED December 2020 Quarterly Budget and Expenditure Reporting (.PDF)