Report and Disclosure
Coronavirus Aid, Relief, and Economic Security (CARES) Act | Higher Education Emergency Relief Fund Reporting
Emergency Financial Aid Grants to Students - Fox Valley Technical College
Thirty-day Report and Disclosure Requirement (to be published by May 21, 2020)
The CARES Act Higher Education Emergency Relief Fund provides funding to institutions for emergency financial aid grants to students for student expenses related to the disruption of campus operations due to coronavirus (including eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, health care, and child care).
Fox Valley Technical College’s grant reporting for May 2020 is as follows:
- Fox Valley Technical College (FVTC) acknowledges it signed and returned to the U.S. Department of Education the Certification and Agreement and gives the assurance that FVTC will use no less than 50% of the funds received under section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
The total amount of funds FVTC received from the U.S. Department of Education for distribution to students is $1,299,408.
The total amount of Emergency Financial Aid Grants distributed to students under section 18004(a)(1) of the CARES Act as of May 19, 2020 is $548,090.05.
- The estimated total number of FVTC students eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965, and thus eligible to received Emergency Financial Aid grants to students Section 18004(a)(1) of the CARES Act is 5,035.
- The total number of students who have applied for and received an Emergency Financial Aid Grant under section 18004(a)(1) of the CARES Act as of May 19, 2020 is 682.
- FVTC formed a task force to establish the online application method to guide which students were to receive Emergency Financial Aid Grants and the amount of such grants.
- The instructions, directions, and guidance provided by FVTC to all students concerning the Emergency Financial Aid Grants were sent via College email and text messaging. Instructions on how to complete the CARES Fund application are provided within the email and on the FVTC Emergency Aid application (www.fvtc.edu/fvtccares). Information includes:
- The purpose of funding;
- How students receive funding (electronic funds transfer or paper check mailed to their permanent address on record);
- Expectation that the money is used for purposes awarded;
- How to apply for funding (link to online application form);
- Whom to contact with questions.
The Internal Revenue Service (IRS) has determined these funds are not taxable.