On May 8, 2020 Teachers College received $1,118,534 in funding through the Higher Education Emergency Relief Fund (“Relief Fund”) authorized by the Coronavirus Aid Relief and Economic Security (CARES) Act. The College signed and returned to the U.S. Department of Education the Certification and Agreement and the assurance that the institution intends to use 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to eligible students who have incurred qualifying expenses related to the coronavirus outbreak (Student Aid Portion). The College has received $559,267 to fund these emergency grants.
As of June 5, 2020, eligible students may apply for grants to determine eligibility in accordance with the Cares Act. As of December 16, 2020, Teachers College has distributed or initiated payments to 430 students in the amount of $508,940. At this time, we estimate that approximately 1500 students are eligible to apply for these grants under Title IV, Section 484 of the Higher Education Act of 1965.
The College is using information from the Free Application for Federal Student Aid (FASFA) to determine the students with the greatest need, with the goal of distributing the funds in a fair and equitable manner. Emergency grant amounts will be awarded to students with qualifying costs and prioritized based on need. A Committee has been established and they will review applications on an ongoing basis, until all funds are spent, in the order applications are received. The College is required to spend its share of the CARES Act funds within one calendar year.
The remaining portion of the funding (Institutional Portion) was designated by the College to cover costs associated with significant changes to the delivery of instruction due to the coronavirus outbreak and was fully used for student housing reimbursements. The final Budget and Expenditure Reporting as of September 30, 2020 for this portion of the Relied Fund can be found here.
Last Updated: 12.11.2020
This is a summary of the administration of the CARES Act Relief Fund at Teachers College. More information about Emergency Financial Aid Grants can be found in the TC CARES Act Policy at the link below. In order to apply for Emergency Financial Aid Grants you must complete the online application, a link to which is also found below. If you have any questions about completing the application or have other questions, please contact us at email@example.com.