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CARES Act Disclosure (October 10, 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.

Coronavirus Aid, Relief, and Economic Security (CARES) Act
Higher Education Emergency Relief Fund
Emergency Student Financial Aid Grants
Report (Updated Report) as of October 10th, 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.  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 up to $15,628 as its allocation for the Emergency Financial Aid Grants to Students.
  3. As of October 9th, 2020, the Seminary has yet to disburse any portion received from the Emergency Financial Aid Grant funding to students. However, students have received notification that the funds will be issued within the Fall 2020 semester. CTS remains hopeful that the amount of funds listed in section 2 will be distributed to students within 3 weeks (or by October 30th, 2020); details of disbursed amounts will be shared in the next report.
  4. The estimated total number of students at the Seminary as of July 7th who are 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 is 124 students. Since that time, the Office of Financial Aid has determined that 91 students from those initially eligible, meet the requirements above.
  5. Thus far, the total number of students who have received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act is <10 students.
  6. The initial distribution of CARES Act funds is being 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 will be degree-seeking; and most of the students will be considered as enrolled full-time. Given the universal impact and the financial need of the students, the Seminary has continued to evaluate a process that will equally allocate these funds to all eligible students in the Seminary. Based on the number of eligible students it is anticipated that eligible students will qualify to received up to $172 to cover expenses such as those related to technology (hardware, software and/or internet connectivity) or additional needs such as healthcare, and childcare. For those who are qualified, CTS will contribute an additional $28 from its own resources, in order to disburse a total of $200.00 for each qualified student impacted by the pandemic.

All students who are expected to receive these specific funds will be sent an e-mail notifying them about the distribution of funds to help them offset extra expenses incurred as a result of COVID-19 disruptions. The email will seek to notify them of the exact amount allocated through Cares Act Funding.