Schools That Were Not Allocated CARES Funding Can Now Apply for Reserve Funds – NASFAA
The Department of Education (ED) has released information on how potentially-eligible institutions that were not allocated funds in the original formula-based allocation table under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act can now apply for the reserve fund. Several institutions were not allocated funds during the initial round of awards because the Integrated Postsecondary Education Data System (IPEDS) enrollment and Federal Student Aid (FSA) Pell Grant data used during ED’s methodology for calculating allocations was unavailable.
In order to access both the student portion and institutional portion of the allocation under 18004(a)(1) of the CARES Act, institutions need to submit the Funding Certification and Agreement form for both the student and institutional portion of funds no later than Aug. 15, 2020.