HEERF Student Aid Funds
The Federal Government established the Higher Education Emergency Relief Fund (HEERF I) under the Coronavirus Aid, Relief, and Economic Stability Act (CARES) on March 27, 2020, a portion of which, Student Aid Funds, is to be used to provide emergency assistance to students. Supplemental funds were later authorized through the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA)/(HEERF II) and the American Rescue Plan (ARP)/(HEERF III) to continue support for institutions of higher education to serve students and ensure learning continues during the COVID-19 pandemic.
Fashion Institute of Technology has been allocated HEERF Student Aid Funds to provide emergency grants to students experiencing financial hardship specifically due to the COVID-19 pandemic for expenses related to any component of the student’s cost of attendance and/or for emergency costs that arise due to coronavirus.
As a recipient of HEERF Student Aid Funds, Fashion Institute of Technology is required by the federal Education Department (ED) to report the following elements on a quarterly basis:
- An acknowledgement that the certification agreement was signed and returned to the federal Education Department (ED) and the assurance that the institution has used, or intends to use, all of the Student Aid Funds to provide emergency grants to students.
- The total amount of HEERF Funds that the institution will receive or has received.
- The total amount of emergency grants distributed to students.
- The estimated total number of students eligible to receive an emergency grant.
- The total number of students who received an emergency grant.
- The method the institution used to determine which students will receive emergency grants and how much funding they will receive. [Awarding Methodology]
- Any instructions, directions, or guidance provided by the institution to students concerning the emergency grants.
The above reporting elements are included within following links and/or as part of the Federal Disclosure Reporting Chart below:
- HEERF I (CARES) Student Emergency Grant
- HEERF II (CRRSAA) Student Emergency Grant
- HEERF III (ARP) Student Emergency Grant
Federal Disclosure Reporting Chart
Below is the combined quarterly reporting summary for the HEERF Student Aid Funds made available through CARES, CRRSAA, and the ARP satisfying the required reporting elements numbers 2, 3, and 5 listed above.
|Report Period||Total amount of HEERF funds the institution will receive or has received (Combined)||Total amount of Emergency Grants distributed to students (Quarterly Only)||Total number of students who received an Emergency Grant (Quarterly Only)|
|Quarterly Report for March 31, 2021. Posted on july 7, 2021||$7,035,400||$0||0|
|Quarterly Report for June 30, 2021. Posted on July 7, 2021||$16,870,692||$3,427,983||2,516 (Unduplicated)|
|Quarterly Report for September 30, 2021. Posted on september 28, 2021||$16,870,692||$89,717||381 (Unduplicated)|
|Quarterly Report for December 30, 2021. Posted on january 5, 2022||$16,870,692||$8,127,568||3,438 (Unduplicated)|
*Click the HEERF I, II, and III links for the following required reporting elements listed above: (1) the acknowledgement that the institution signed and returned to the Department the Certification and Agreement; (4) the estimated total number of students at the institution that are eligible to receive emergency grants; (6) Awarding Methodology; and (7) any instructions, directions, or guidance provided by the institution to students concerning the emergency grants.
The reported disbursements may include redistributions of unclaimed emergency grants previously reported.
HEERF Institutional Funds
Below is the required quarterly reporting for HEERF Institutional Funds made available through CARES, CRRSAA, and the ARP: