CARES ACT Report 45-DAY UPDATE - South Baylo University Cares Act Report 09242020.pdfC 1 CARES ACT...
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1 C CARES ACT Report 45-DAY UPDATE September 24, 2020 South Baylo University (“SBU”) continues to award emergency financial aid to students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. SBU was awarded $106,866 in HEERF funding effective May 27, 2020. The process for students to receive funds under the CARES Act continues to follow the process outlined in the 30-Day report. This 45-day report update provides the amount of funds distributed to students, as of the report date. Hereafter, updates regarding the number of SBU students receiving CARES Act funds, as well as the total amount awarded, will continue to be posted every 45 days. ➢ On May 14, 2020, South Baylo University (SBU) submitted to the U.S. Department of Education the signed Certification and Agreement for Higher Education Emergency Relief Funding and intends to use no less than 50 percent of the funds received under § 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students. ➢ SBU received $106,866 from the U.S. Department of Education as a result of the CARES Act, with a minimum of $64,120 set aside for student grants and a maximum of $42,746 allocated as institutional funding. ➢ As of Monday, September 21, 2020 SBU has distributed $56,350 in grants to students through the CARES Act. ➢ An estimated total of 187 students enrolled in the Summer 2020 term were identified as potentially 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. ➢ As of Monday, September 21, 2020, 126 students met all CARES Act funding requirements and were awarded Emergency Financial Aid Grants while 1 student was denied due to default on federal student loans. 60 students may become eligible to receive emergency funding and will be awarded as their eligibility to participate in Title IV programs is determined.
Transcript of CARES ACT Report 45-DAY UPDATE - South Baylo University Cares Act Report 09242020.pdfC 1 CARES ACT...
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CARES ACT Report
45-DAY UPDATE
September 24, 2020
South Baylo University (“SBU”) continues to award emergency financial aid to students under the
Coronavirus Aid, Relief, and Economic Security (CARES) Act. SBU was awarded $106,866 in HEERF
funding effective May 27, 2020. The process for students to receive funds under the CARES Act continues
to follow the process outlined in the 30-Day report. This 45-day report update provides the amount of funds
distributed to students, as of the report date. Hereafter, updates regarding the number of SBU students
receiving CARES Act funds, as well as the total amount awarded, will continue to be posted every 45 days.
➢ On May 14, 2020, South Baylo University (SBU) submitted to the U.S. Department of
Education the signed Certification and Agreement for Higher Education Emergency
Relief Funding and intends to use no less than 50 percent of the funds received under §
18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
➢ SBU received $106,866 from the U.S. Department of Education as a result of the CARES
Act, with a minimum of $64,120 set aside for student grants and a maximum of $42,746
allocated as institutional funding.
➢ As of Monday, September 21, 2020 SBU has distributed $56,350 in grants to students
through the CARES Act.
➢ An estimated total of 187 students enrolled in the Summer 2020 term were identified as
potentially 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.
➢ As of Monday, September 21, 2020, 126 students met all CARES Act funding
requirements and were awarded Emergency Financial Aid Grants while 1 student was
denied due to default on federal student loans. 60 students may become eligible to
receive emergency funding and will be awarded as their eligibility to participate in Title
IV programs is determined.
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➢ South Baylo University has determined the amount of funding based on the FAFSA-
determined Expected Family Contribution (EFC) and the number of credit hours registered.
The method of determining the amount was described in the 30-day report.
➢ On Monday, June 1, 2020, SBU provided instructions for applying for the grants through
an email to all eligible students (see attachment A - the communication letter) and on the
school Cares Act webpage (https://southbaylo.edu/web/higher-education-emergency-
relief-fund/).
On Thursday, June 11, 2020 the communication was emailed to the students who were
identified as eligible to receive an initial emergency CARE Act award (see attachment B
- communication letter).
On Friday, July 17, 2020 the communication was emailed to the students who were
identified as eligible to receive an initial emergency CARE Act award (see attachment C
- communication letter).
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Attachment A
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Attachment B
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Attachment C
