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CARES Act HEERF information for the Student Emergency Fund

Coronavirus Aid, Relief, and Economic Security Act ("CARES Act")

Update: October 29, 2020

1. InterAmerican Technical Institute acknowledges that the Institution signed and returned to the Department of Education the Certification and Agreement and assures that the Institution 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. The initial Certification and Agreement was signed and returned to the Department of Education on April 9, 2020.

2. Pursuant to the Certification and Agreement [for] Emergency Financial Aid Grants to students, South Florida Institute of Technology received $43,606 on May 1, 2020 and has one year through April 30, 2021 to distribute the Emergency Financial Aid Grants to students.

3. The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of September 30, 2020, is $48,587. The additional Emergency Financial Aid Grants of $4,981 distributed to students was obtained from the Institutional Portion of Section 18004(a)(1) of the CARES Act.

4. InterAmerican Technical Institute initially estimates that between 60-80 students may be 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 during the period between March 05, 2020 and December 31, 2020- as guidance provided by the US Department of Education for interruption of study related to Coronavirus-COVAD-19.

5. The total number of students who received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act as of August 15, 2020, is 78.

6. InterAmerican Technical Institute will determine which students will receive Emergency Financial Aid Grants and how much they will receive under Section 18004(a)(1) of the CARES Act initially based on students with the lowest Expected Family Contribution (EFC), which identifies students with the highest need. All students who filed a FAFSA and enter a payment period (or term) between March 05, 2020 and December 31, 2020- as guidance provided by the US Department of Education for interruption of study related to Coronavirus-COVAD-19) will be eligible to receive the Emergency Financial Aid Grants under Section 18004(a)(1) of the CARES Act.

7. Students received notification from the Financial Aid Services office notifying them of their eligibility and the process for receiving the Emergency Financial Aid Grants under Section 18004(a)(1) of the CARES Act.

8. Quarter Budget and Expenditure Reporting under the CARES Act Section 18004(a)(1) Institutional Portion through September 30, 2020 is as follows: Click here for details

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