Federal Reporting Requirements for HEERF Funds
Southern Regional Technical College (SRTC) signed and returned the Recipient’s Funding Certification and Agreement Emergency Financial Aid Grants to Students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act on 04/22/2020. SRTC intends to use the funds to provide the mandated amount of at least 50% of the emergency financial aid grants to students.
SRTC is due to receive $3,604,074.00 from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.
SRTC has identified 1901 students who meet the criteria to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
Students who were enrolled spring semester as of March 13th, met eligibility requirements, and were not enrolled exclusively online were selected to receive an emergency grant. To determine how much grant money each student would receive, SRTC applied the model for distribution based on credit hour enrollment already in use by Title IV regulations. Under this model, students will receive a minimum of $320 for 5 or less credit hours enrolled during Spring semester. This amount increases incrementally by $300 as credit hour thresholds are met with a maximum possible distribution of $1,220 for 12 or more credit hours enrolled.
In an effort to ensure students were aware of the emergency grant, and to be as transparent as possible, the following communications have been provided to students, or made available on example college’s website.
As of December 31, 2020, SRTC has successfully distributed a total of $1,838,997 to 1897 students under Section 18004(a)(1) of the CARES Act.