Sections 3504, 18004, and 18008 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, allow higher education institutions to use certain funds allocated by the Department of Education to support students and higher education institutions with expenses and financial needs related to the coronavirus (COVID-19) pandemic. With the new Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a temporary tax-free provision is provided for employer student loan assistance programs. The purpose of the funds is to award emergency financial aid grants to students for specific expenses that are a direct result of the disruption of campus operations due to COVID-19. Under the new law, no payments are required on federal student loans owned by the U.S. Department of Education between March 13, 2020 and January 31, 2021. Sierra College will be using an online application to assist us in determining eligible students to receive funding from the CARES Act funds allotted. Remaining CARES Act funding is limited. under the education funding programs. It creates no direct funding mechanism for university-affiliated entities (e.g., independent athletic organizations, advancement foundations, research foundations, etc.) The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contains several provisions relating to paying for college. Remaining funds continue to be disbursed as part of an application process described further below in the methods used to determine which students receive aid and how much they receive. The CARES Act Higher Education Emergency Relief Fund-IHE/Student Aid supplies funding for institutions to provide emergency financial aid grants to on campus students who have been impacted by disrupted campus operations due to coronavirus, many of whom are facing financial challenges and struggling to make ends meet. Students submitting the application are not guaranteed that funds will be awarded. Note: You must complete a 2020-2021 FAFSA application before applying for Emergency Aid if you want to be considered for CARES Act funds. The CARES Act funds– officially HEERF – Student Share (Higher Education Emergency Relief Fund)– are not Title IV education funds and therefore are not subject to Title IV rules. The total amount of Student Emergency Aid Grant funds distributed to students under Section 18004(a)(1) of the CARES Act as of August 3, 2020 is $343,849. In addition to a payment pause and interest waiver on certain federal student loans, and tax-free employer-paid student loan repayment assistance, the CARES Act includes the following student aid provisions for the duration of the national public health emergency. When Congress passed the CARES Act in March, the law expanded access to unemployment benefits for many workers impacted by Covid-19 and created the PUA program. The CARES Act, the sweeping stimulus legislation enacted in March, includes relief for student loan borrowers. Are dual enrolled or middle college students eligible for this funding? The CARES Act provisions for higher education exclusively target institutions and students. Applications will be processed on a first come, first served basis. Tens of thousands of students across California like Hernandez are eligible for emergency coronavirus grants through the federal CARES Act signed into law March 27. Awarding will continue until all the CARES Act funding is disbursed. If you have questions about (or need assistance with) completing the FAFSA, a Dallas College representative is available on Blackboard Collaborate (eConnect LIVE) from 8 a.m. - 5 p.m. Section 2206 of the CARES Act allows a portion of student loan payments to be excluded from income.
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