Download: Quarterly Budget and Expenditure Reporting under CARES Act (7/10/2022)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (4/10/2022)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (1/10/2022)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (10/10/2021)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (6/30/2021)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (3/31/2021)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (12/31/2020)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (10/29/2020)
CARES Act – Emergency Financial Aid Grants to Students
Required Quarterly Report (6/30/2022 - Final Quarter)
On March 27, 2020, the President of the United States signed
the CARES Act (H.R. 748), which provides emergency relief funds to
organizations and individuals affected by the coronavirus pandemic. The Higher
Education Emergency Relief Fund (HEERF), found in Section 18004 of the CARES
Act, provides funding to institutions of higher education “to prevent, prepare
for, and respond to coronavirus.” The following information is provided by Rabbinical
College of Telshe as required by the Department of Education (“ED”) in order to
comply with the reporting requirements under the CARES Act. This is RCT’s seventh
Quarterly progress report and presents information as of June 30, 2022. Additional
reports will be provided quarterly.
Quarterly Report For CARES Act Funding
1. An acknowledgement that the institution signed
and returned to the Department the Certification and Agreement and the
assurance that the institution has used, or intends to use, no less than 50
percent of the funds received under Section 18004(a)(1) of the CARES Act to
provide Emergency Financial Aid Grants to students.
Rabbinical College of Telshe signed and returned the Certification and
Agreement to the U.S. Department of Education on April 28, 2020 for the HEERF
Funds for Emergency Financial Aid Grants. RCT received its grant award
notification dated May 5, 2020. In keeping with the terms of the certification,
RCT will use no less than 50% of the funds received, as stated under 18004(c)
of the CARES Act, to provide Emergency Financial Aid Grants directly to students.
2. The total amount of funds that the institution
will receive or has received from the Department pursuant to the institution’s
Certification and Agreement [for] Emergency Financial Aid Grants to Students.
Rabbinical College of Telshe will receive a total of $68,695 under Section
18004(a)(1) of the CARES Act, of which $34,348 is to be provided directly to
students impacted by campus disruption due to the Covid-19 crisis. As a result of the CRRSAA Act signed on December 27,
2020, we received an additional $34,348 in funding for student grants. On May 20, 2021 we
received an additional student authorization of $101,283.00.
3. The total amount of Emergency Financial Aid
Grants distributed to students under Section 18004(a)(1) of the CARES Act as of
the date of submission (i.e., as of the Quarterly Report and every quarter
thereafter).
As of June 30, 2022, awards totaling
$169,978 have been made, which includes $128.00 of institutional CARES Act funds.
4. The estimated total number of students at the
institution 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.
Rabbinical College of Telshe estimates approximately 60 students are eligible
to participate 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. New HEERF regulations eliminated the Title IV
eligibility requirement which increased our eligible student count to 60 students.
5. The total number of students who have received
an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the
CARES Act.
As of the date of this Quarterly Disclosure, the total number of students
who have received an Emergency Financial Aid Grant to students under Section
18004(a)(1) of the CARES Act is 60.
6. The method(s) used by the institution to
determine which students receive Emergency Financial Aid Grants and how much
they would receive under Section 18004(a)(1) of the CARES Act.
The institution will select student recipients for the CARES Act Grants
based on the student’s eligibility for Title IV funds as determined by ISIR’s
received with all agency matches performed successfully. NOTE: Although FAFSA completion
is no longer a requirement, (see item (4)) since we have a large percentage of needy students
who do complete the FAFSA, we do use the information from the processed FAFSA to ascertain
exceptional need. In the event that students have not completed the FAFSA,
needy students may also apply directly to Rabbi Dovid Goldberg,
as well as their instructors who are usually already familiar with a given student’s financial situation.
Specific grants will be determined based on need as
established by instructor. Funds allocated were apportioned according to marital status.
Married students, who were assumed to have higher expenses, received grants of $3,250.00. Single student grants were $2000 per student.
7. Any instructions, directions, or guidance
provided by the institution to students concerning the Emergency Financial Aid
Grants.
Students were informed through this website, as well as through our
administration representatives, including our financial aid officers, as to the
existence of this grant and the fact that we were requiring FAFSA completion in
order to determine Title IV eligibility, a requirement for receipt of the CARES
Act grant. NOTE: Students are no longer required to be Title IV eligible, and should
speak to their instructors or to our administrator to request a grant.