The following describes how funds received from America Rescue Plan, 2021 (ARP) have been portioned for student and institutional purposes.
Student Portion of ARP Funding
The Federal Government established the Higher Education Emergency Relief Fund III (HEERF III) under the America Rescue Plan, 2021. Fashion Institute of Technology received Student Aid funding under section 2003(7) of the ARP. This program, with some changes, provides supplemental funds to the CARES Act section 18004(a)(1) program. This fund will allow the Fashion Institute of Technology to provide emergency grants to students.
Fashion Institute of Technology received Student Aid funding under the CRRSAA section 314(a)(1) program or section 2003(7) of the ARP. This program, with some changes, provides supplemental funds to the CARES Act section 18004(a)(1) program. Fashion Institute of Technology signed and returned to the Education Department a Certification and Agreement as required under the CARES Act section 18004(a)(1) program. We acknowledge that by drawing down the ARP funds, our institution agrees to be bound by the conditions set forth in the ARP Supplemental Agreement for a portion of these funds to provide emergency aid grants to students. The Grant Award Notice was approved May 18th, 2021. The amount of funds made available by this supplemental award under CFDA 84.425E represents the minimum amount that recipient must use for financial aid grants to students.
Fashion Institute of Technology has received or will receive $9,835,292.00 from the Department of Education pursuant to the Certification and Agreement for Emergency Financial Aid Grants to Students.
The State University of New York (SUNY) is currently drafting SUNY-Wide guidelines and a distribution plan for the American Rescue Plan (HEERF III) Student Aid Funds which will provide vital emergency grants to SUNY undergraduate and graduate students with exceptional need and/or extraordinary financial circumstances. Once the guidance and distribution plan are formally approved and communicated to the SUNY campuses, our required HEERF reporting disclosures will be updated.