CARES Act Higher Education Emergency Relief Fund

Status Report

Updated September 29, 2020

Student Portion

Madison Area Technical College acknowledges that the institution signed and returned to the Department of Education the Certification and Agreement for the use of Higher Education Emergency Relief Funds under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.  The institution intends to use no less than 50 percent of the funds to support students.

The institution has received from the Department of Education, pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to students $2,750,035.

As of September 29, 2020, the fourth 45 day report as required by the Department of Education, Madison College has distributed $2,241,541.79 to 2,703 students. The next report is scheduled for November 12, 2020. The college estimates that 19,962 students are eligible to participate in programs under Section 484 in the Title IV of the Higher Education Act of 1965 which could qualify them to receive Emergency Financial Aid Grants under Section 18004(a)(1) if student eligibility requirements are met as established by the Department of Education.

In determining Emergency Financial Aid Grants, the College requires students to complete a Free Application for Federal Student Aid (FAFSA) for verification of eligibility to participate if Section 484 of the Higher Education Act of 1965 as required by the Department of Education. As required under the CARES Act, the institution must identify students with the most need based on food, housing, course materials, technology, healthcare, and childcare due to the disruption of campus operations. The College does this through a self-reporting application with supporting documentation.  To identify funding limits, an analysis of the cost of attendance (COA) of financial aid recipients was used to identify an average gap in assistance.  Communications via email, social media, direct mailing, website presence, and student groups assisted in educating students of this opportunity.

Students who seek assistance may apply to the Madison College CARES Fund.

 

Institutional Portion

The CARES Act Higher Education Emergency Relief Fund provides funding to institutions to cover institutional costs associated with significant changes to the delivery of instruction due to the coronavirus.

  1. Madison Area Technical College acknowledges it signed and returned to the U.S. Department of Education on April 21, 2020 the Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund Formula Grants Authorized by Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
  2. The total amount of funds awarded to Madison College from the U.S. Department of Education for institutional expenses is $2,750,034. 
  3. The total amount of expenses incurred as of August 31, 2020 is $247,961.92.