Aug 292020

CTS and the CARES Act

Chicago Theological Seminary has signed and returned to the Department of Education the required CARES Act Certification and Agreement documents and will 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.

CTS received $17,058 from the Department of Education pursuant to the CTS’ Certification and Agreement for Emergency Financial Aid Grants to Students.

CTS has distributed $8,529 to students under Section 18004(a)(1) of the CARES Act as of December 31, 2020.

352 students (approximately 90%) are enrolled in degree programs and are or could be eligible to participate in the Federal student financial aid programs under Section 484 of the Higher Education Act of 1965.

15 CTS students have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act as of December 31, 2020.

In the 1st and 2nd quarter of 2020 CTS distributed a(3) HEERF funds to students in the form of emergency grants. Please view the 1st quarter form and the 2nd quarter form for more details. CTS distributed $0 in Section 18004(a)(1) Institutional Portion of the CARES Act in the 3rd quarter of 2020. Please view the form for more details view the form. CTS distributed $3,410 in Section 18004(a)(1) Institutional Portion of the CARES Act in the 4th quarter of 2020. Please view the form for more details.

The method(s) used by CTS to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act as well as any instructions, directions, or guidance provided by CTS to students concerning the Emergency Financial Aid Grants are located here: https://www.ctschicago.edu/costs-financial-aid/

Institutions that accurately report the information listed above will meet the initial reporting requirements. For subsequent reports and reporting for other related HEERF programs, the Department of Education will notify participating institutions of the Department’s preferred reporting method. The Department may choose to collect additional information from institutions in accordance with the reporting requirements stated in Section 18 (e) of the CARES Act and the Certification and Agreement.

For more information on the HEERF, please visit the Department of Education’s CARES Act webpage: Higher Education Emergency Relief Fund page.

Contact Information: If you have questions about the information in this announcement, contact [email protected].