The Department of Education (ED) on May 6 provided some clarification about the timing of reporting requirements for institutions that receive Higher Education Emergency Relief Fund (HEERF) grants for students. The same announcement also offered more detail about reporting on institutions’ websites. Section 18004(e) of the CARES Act originally required institutions...
As part of the continuing effort to provide relief to a higher education system that was rocked by COVID-19, the Department of Education (ED) has released information on how to apply for the institutional portion of the emergency funds provided the CARES Act. Institutions are able to use up to 50...
Co-authored by Audrey Kaplan. Since the U.S. Department of Education’s April 9, 2020, announcement of the forthcoming release of the student emergency funds as noted in Section 18004(c) of the Coronavirus Aid, Relief and Economic Security Act (CARES Act), we have had numerous discussions with clients in regard to the awarding,...
Following last week’s announcement of the $6 billion Higher Education Emergency Relief Fund to aid students amid the COVID-19 pandemic, the Department of Education (ED) has provided a set of resources as it prepares to disburse funds to institutions. We recommend visiting ED’s relief fund web page here. It includes: A...
More than $6 billion in emergency cash grants is being distributed to colleges and universities, the Department of Education announced Thursday afternoon, with the funds meant for students who have had their education disrupted by the COVID-19 outbreak. Part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, schools are...
The Small Business Administration has provided additional guidance regarding the Paycheck Protection Program. In addition, they have made revisions to the Borrower Application Form. Reference our Loan Application Checklist for additional information on what to prepare prior to completing the form. The Department of the Treasury website provides a copy of...
Updated April 3, 2020 The updated SBA loan application instructions indicate payroll information should be based upon the 2019 calendar year. We believe the documents listed below will be needed for the loan application process: Payroll Reports – These should be available to download from your payroll provider’s website: 2019 Quarterly...
McClintock & Associates has begun to review the Higher Education Emergency Relief Fund which was included in the CARES Act. Within the Act, under Section 18004(a)(1), the U.S. Department of Education (ED) will distribute these funds to all institutions based upon the relative share of full-time equivalent enrollment of Federal...