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CARES Act Disclosure

The information below is being provided in fulfillment of the requirement associated with the Emergency Financial Aid Grants to Students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Coronavirus Aid, Relief, and Economic Security (CARES) Act
Higher Education Emergency Relief Fund
Emergency Student Financial Aid Grants
Report (*Final Report) as of October 22nd, 2020

The information below is being provided in fulfillment of the requirement associated with the Emergency Financial Aid Grants to Students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

  1. On May 24th, 2020, Christian Theological Seminary (the “Seminary”) signed and returned to the Department of Education (the “Department”) the Certification and Agreement, which stated that no less than 50% of the Seminary’s total award will be used to provide Emergency Financial Aid Grants directly to students.
  2. On July 9thth, 2020, the Seminary received confirmation from the Department that it has been awarded $15,628 as its allocation for the Emergency Financial Aid Grants to Students. [ In addition to this, CTS received notice on July 17th, indicating it had also received the institutional portion]
  3. As of October 22, 2020, the Seminary has disbursed the total amount (or $15,628) that it received from the Emergency Financial Aid Grant funding to students.
  4. The estimated total number of students at the Seminary as of July 7th who were 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 was 124 students. Since that time, the Office of Financial Aid has determined that 78 students from those initially eligible met the requirements above.
  5. The total number of students who have received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act is 78 students.
  6. The distribution of these specific CARES Act funds was directed to Title IV eligible students enrolled in the Seminary during the Spring 2020 semester based on the fact that the students were significantly and negatively impacted by the COVID-related disruptions, including expenses associated with the sudden switch to remote learning in March. All of the students were to be degree-seeking; and most of the students were also considered to be enrolled full-time. Given the universal impact and the financial need of many of our students, the Seminary has continued to evaluate a process that would equally allocate these funds to all eligible students in the Seminary. Based on the number of eligible students, each of the 78 qualified individuals qualified to receive direct payment of $200.36 to cover expenses such as those related to technology (hardware, software and/or internet connectivity) or additional needs such as healthcare, and childcare. Although previously noted, CTS did not contribute additional aid from its own resources, as the number of qualified students was significantly less than originally estimated.
  7. All students who received these specific funds were sent an e-mail notifying them about the source of funds they were receiving, the date of distribution, and amount of funds that were issued to help them offset extra expenses incurred as a result of COVID-19 disruptions.

Additional CARES Act Reporting

The information below is also being provided in fulfillment of requirements associated with funds received under section 18004(a)(1) HEERF-Institutional Portion as well funds allocated under section 18004(a)(3) HEERF-FISPE funds which were allocated to CTS as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Budget and Expenditure Reporting Under Cares Act Section 18004(a)(1)- Institutional Portion (* FINAL REPORT) as of October 30th, 2020

Quarterly Reporting- Period Ending 9-30-2020 

Budget and Expenditure Reporting Under Cares Act Section 18004(a)(3)- Institutional Portion as of October 30th, 2020

 Quarterly Reporting- Period Ending 9-30-2020

Budget and Expenditure Reporting Under Cares Act Section 18004(a)(3)- Institutional Portion as of December 31st, 2020

 Quarterly Reporting- Period Ending 12-31-2020

Budget and Expenditure Reporting Under Cares Act Section 18004(a)(3)- Institutional Portion as of April 1, 2021

Quarterly Reporting- Period Ending 4-1-2021