The federal government recently enacted the CARES Act, which allocates emergency grant funds to colleges, including New York College of Traditional Chinese Medicine to support students and institutions with expenses and financial needs related to the coronavirus (COVID-19) pandemic. NYCTCM acknowledges an authorized representative of the institution has signed and returned to the Department of Education the Certification and Agreement and 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.
NYCTCM was allocated and has received $42,337 from the Department of Education pursuant to the Certification and Agreement for Emergency Financial Aid Grants to Students.
NYCTCM has prioritized awarding of Emergency Financial Aid Grants to its students in the following manner (methodology):
| Expected Family Contribution (EFC) from FAFSA
|| Preliminary Award
| Students with EFC = 0
| Students with EFC = 1 to 6042
| Students with EFC = 6043 to 18127
| Students with EFC > 18127
Under Section 18004(a)(1) of the CARES Act, students will receive awards ranging from $325 to $625. An estimated 100 students were 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. As of August 24, 2020, 79 students received the grant resulting in a total of $42,375 distributed.
Students are required to certify and attest that they have or will incur allowable expenses of food, housing, course materials, technology, health care, childcare, and/or transportation as a result of the disruption of campus operations due to coronavirus.
All students who apply will be notified of their eligibility and the amount of their CARES Act emergency grant award. The CARES Act requires institutions to provide the emergency financial aid grants to students. The institution may not use that portion of the HEERF set aside for emergency financial aid grants to students to satisfy a student’s outstanding account balance. Therefore, the emergency grant may not be applied towards any outstanding balance for the Spring 2020 and Fall 2020 trimesters. Payment will be made by NYCTCM via check mailed to the permanent address on file for the student.
Deadline to Submit CARES Act Emergency Grant Application: August 14, 2020.
Questions should be directed to firstname.lastname@example.org
For more information, please visit the following:
CARES Act: Higher Education Emergency Relief Fund
Internal Revenue Service FAQs regarding Grants under the CARES Act
Frequently Asked Questions about the Emergency Financial Aid Grants to Students