{"id":13177,"date":"2020-08-14T11:40:58","date_gmt":"2020-08-14T18:40:58","guid":{"rendered":"https:\/\/www.sum.edu\/?page_id=13177"},"modified":"2021-07-09T16:58:22","modified_gmt":"2021-07-09T23:58:22","slug":"cares-act","status":"publish","type":"page","link":"https:\/\/www.sum.edu\/cares-act\/","title":{"rendered":"CARES Act"},"content":{"rendered":"

CARES ACT<\/strong><\/h1>\n

FEDERAL EMERGENCY GRANT POLICY<\/strong><\/p>\n

Purpose:<\/span><\/p>\n

On March 13, 2020, the President of the United States declared that a national emergency concerning the COVID-19 outbreak began on March 1, 2020, as stated in \u201cDeclaring a National Emergency Concerning the Novel Coronavirus Disease (COVID-19) Outbreak,\u201d Proclamation 9994 of March 13, 2020, Federal Register Vol. 85, No. 53 at 15337-38.\u00a0 The Department considers this declaration to be equivalent to a federally declared major disaster, as defined in The Robert T. Stafford Disaster Relief and Emergency Assistance Act in 42 U.S.C. \u00a7 5122(2) (Stafford Act).<\/span><\/p>\n

As part of the national emergency, the \u201cCoronavirus Aid, Relief, and Economic Security\u201d (CARES) Act was passed and implemented on Friday, March 27, 2020.\u00a0 Part of the CARES Act includes Emergency Stabilization Funds provided to each institution intended to provide emergency aid to needy students and the institution as a result of interruptions related to COVID-19, or the Coronavirus.<\/span><\/p>\n

Emergency Relief Funds Are Not Title IV Federal Student Aid Funds:<\/span><\/p>\n

As indicated in the letter to University Presidents and the Certification and Agreement item #3 last paragraph, \u201cThe Secretary does <\/span>not<\/span> consider these individual emergency financial aid grants to constitute Federal financial aid under Title IV of the Higher Education Act.\u201d<\/span><\/p>\n

Further, student recipients of the emergency grant are not to have these funds counted as Estimated Financial Aid (EFA) in their current or future financial aid award package.\u00a0 In addition, they are not to be included as income in the methodology for Federal student aid (i.e., counted as income when completing a future FAFSA form).<\/span><\/p>\n

Please see the section labeled \u201c<\/span>COVID-19 References\u201d<\/span><\/em> at the bottom of this policy citing the above regulations.<\/span><\/p>\n

SUM Bible College & Theological Seminary CARES Act Emergency Stabilization Policy and Procedure for Students<\/span>:<\/span><\/p>\n

SUM Bible College & Theological Seminary signed and returned to the Department the Certification and Agreement application for funds under Section 18004 of the CARE Act. <\/span>As documented in the <\/span>COVID-19 Reference<\/span><\/em> section of this policy, SUM Bible College & Theological Seminary, has been allocated $26,609.00 in Emergency Stabilization Funds. \u00a0 50%, or $13,305.00, must go directly to students who meet the below eligibility requirements.\u00a0 SUM Bible College & Theological Seminary has one year from the date of the law to expend Emergency Grant Funding.<\/span><\/p>\n

Student Eligibility Requirements<\/span>:<\/span><\/p>\n

As amended in the \u201c<\/span>Higher Education Emergency Relief Fund\u201d Q&A, <\/span><\/em>under Section 18004 of the CARES Act (reference below), to be considered for the Emergency Grant, applicants must be:<\/span><\/p>\n