cares education stabilization fund
<> CARES Act Education Stabilization Fund: Background and Analysis On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act; P.L. endobj This includes “grants to students for food, housing, course materials, technology, healthcare and childcare.” Institutions may also use the funds for “costs associated with significant changes to the delivery of instruction due to coronavirus.”. The endobj %PDF-1.5 The organization’s advocacy efforts are focusing on higher education funding, tax relief and student aid. <>stream Ken has more than 20 years of experience providing accounting, auditing and consulting services to privately held businesses, nonprofit entities and higher education organizations throughout the country.
Colleges and universities will receive $14.3 billion, 10% of which is divided between historically black colleges and universities (HBCUs) and grants for small institutions with unmet needs related to coronavirus. We’ll also monitor additional efforts from NACUBO and others to provide relief for students and institutions alike. �1�V�e'vp?D�����_���`Ff0��k[���K��N��_�N��V�އ'��[=. <>/Metadata 215 0 R/ViewerPreferences 216 0 R>> In these reports, schools must also document that they have continued to pay all employees and contractors during the period of disruptions or closures to the greatest extent practicable. x��]ms�������Hz(��k��-ѭҤq-՝N�x�B�@v�_��= �;�P�nf�� �ݻ�}��N���WiV��?��u����zz�������^��Oo�MZ������M���"ӥ,���=?c��~�:.��p��,��Q�R�~��7l���۫ׯN�qƹ���j����\�Y�9�����]��m���m�d��)n>����_'l���������_���g��0��ۺ�ޙ��n������,q|�>q����=�����9sGӎ5�#S�q�����#�{���ԃ�;pkN0~��h�=� 2"da8^8��?���>��~>=�'i-����8���]'��-J\����^�L����pR��4�J�O��1x��E�*�u"\�4C��M9�0���x�hb�v;B|�������@+��Z)�$(�:�7�x` ��!����$4�l�v��I��j�@O�l=�'�\��l�p�9 &�/�Р��˴�rW�PN�7�f�l��S1X���I7����pQn�|ʃIU��L2$ OLy��P�M9�w���i2���'���Vٛ(?�n���M:���`��$r���i3۸�������"ǥ͆%)����A ��P��PA ����. The CARES Act: Education Stabilization Fund The federal Coronavirus Aid, Relief, and Economic Security (CARES) Act includes specific funding sources for New Jersey school districts. Schools must report to the DOE 30 days from the date of the agreement (and every 45 days after) how grants were distributed to students, the amount awarded to each student, how the amount of each grant was calculated, and instructions given to students about the grants. CARES Act to the Rescue: The Education Stabilization Fund, The full distribution list can be found on the Department of Education’s website. As the partner-in-charge of the firm’s Gainesville office, he also contributes to the firm’s strategic planning and implementation of tactical items and oversees the daily administration of the office. %���� 4 0 obj COVID-19 has disrupted education nationwide, throwing students, faculty and staff into limbo—and often leaving institutions in the lurch financially. 30 0 obj Reporting HHS Provider Relief Funds: An Important Update, HEERF – October 2020 Update on Reporting Requirements, Deadline Extended in Recoupment of Medicare Accelerated Payments, It’s Your Move: Year-End Tax Planning for Real Estate, Phase 3 of the Provider Relief Fund Announced. <> 4 0 obj C{(p�m �?����s~�m#�uct+ c�.��C����Y9��hy��O�(���j}�4R��ME��W���fbg ���(�ξ�C��c�A !��Q��pr9�6�/��l��DO�6z�{��Qh\xj�~p���bb��h;|���#��p0麂i�:�B�������#�7c� �)s{��"x���;�r�:X������ �E����B�=��)�h��*�,k�v�}>��:�nr���h��\{����ns���w��\��/��ܛ�"�)�k�N�ml7����SDw���iC�U�|��A|������j_���E������7����@�> Ȕ>{�s�9�9����pW�`�1M�T4���c��b�� �ABj{5�~�䃔�{�����-r�����w���AO�C�s�D�LBL��p�8���c�=�X��@�~ The most significant CARES Act funding for higher education, the Education Stabilization Fund will provide $14 billion directly to higher education entities. ), At least 50% of this fund must be used to provide direct emergency aid to students. <>stream The CARES Act includes three grant programs under the Education Stabilization Fund: • Elementary and Secondary School Emergency Relief (ESSER) Fund ($13.2 billion) • Higher Education Emergency Relief (HEER) Fund ($14.25 billion) x��V[O�H~���0�v���~������*��������[i���3cS�8 �nP� +K2�W�8��d��&� �?���T���S�ɦN����}����� ,�z���4)>�-&�|Ir��"dP�w%�+�0?f��R;V�+���q�2�t��^/W-���ruS'WŢy�V,�}���������m���l��G��^oFA���z1 3[@�3NY\� ���V�Zb��d����6�ڒ���/!r��wq�&Wɿ���49��_��0��Pϳ�m���m�5M{t� �b�s+(' ��^�e�'�[�&\P�4�}�.�`����O����=��b�*,�"�m������>�J���7��]�=Pg�X�#GA�pXog���N �.-.�����[X5�������Jn`��t��n���\�4�qt��yWN��[�^Z�s��}��f1,x�.�K3�/N/ stream (The full distribution list can be found on the Department of Education’s website. The CARES Act establishes a $31 billion Education Stabilization Fund supporting both K-12 and higher education. Of this amount, 90% is to be allocated to institutions based off the Title IV distribution system. For up-to-date information on this subject please contact a James Moore professional. After logging in you can close it and return to this page. The login page will open in a new tab. The Education Stabilization Fund is a needed economic lifeline to institutions facing swift and unprecedented economic challenges. Education Stabilization Fund (ESF) provides $30.74 billion in dedicated funds to support education relief and recovery efforts, with: $13.5 billion for K-12; $14.2 billion for Higher Education; and, $3 billion for Governors to further support a state’s most significantly impacted K-12 and Higher Education institutions. %���� 3 0 obj 4592 0 obj The bill includes an Education Stabilization Fund, which provides $13.5 billion in K-12 formula grants to states.
(The full distribution list can be found on the Department of Education’s website.) These funds will be administered through the DOE’s Fund for the Improvement of Postsecondary Education (FIPSE). The most significant CARES Act funding for higher education, the Education Stabilization Fund will provide $14 billion directly to higher education entities. Schools will not use the emergency grant aid funds to reimburse themselves for any costs or expenses. On April 13, 2020, USED unveiled its Education Stabilization Fund website. >>/Reason()/Reference[<>/Type/SigRef>>]/SubFilter/adbe.pkcs7.detached/Type/Sig>> endobj This includes (but is not limited to) costs associated with significant changes to the delivery of instruction due to the coronavirus and/or any refunds or other benefits that schools previously issued to students. Leading the way is the National Association of College and University Business Officers (NACUBO). Of this amount, 90% is to be allocated to institutions based off the Title IV distribution system. Included in the act was the Education Stabilization Fund (ESF). Distressed Mortgage Investing: Path to Riches or Hidden Trap?
James Moore’s Higher Education team is ready to help you with the opportunities provided by the Education Stabilization Fund. The ESF is composed of three emergency relief funds: (1) a Governor’s Emergency Education Emergency grant aid funds will not be used for any purpose other than the direct payment of grants to students for their expenses related to the disruption of campus operations due to coronavirus. Section 18003 of the Act outlines the general provisions of the Education Stabilization Fund to include the Elementary Secondary School Emergency Relief Fund. James Moore will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.
Some relief is on its way, however, thanks to the Education Stabilization Fund in the recently enacted CARES act.
Private Education CARES Act Education Stabilization Fund: Steps Private School Leaders Should Take NOW to Prepare April 9, 2020 Introduction On March 27, 2020, President Trump signed COVID-19 relief legislation passed by Congress called “the CAREs Act.” Part of the CAREs Act establishes what is called the “Education Stabilization Fund.” This grant is distributed to states based on their share of ESEA Title I-A funds. While the Department of Education (DOE) has not offered additional guidance on allowable uses for these funds, institutions must agree to a number of specific provisions: The remaining stabilization funds will go to minority-serving institutions (7.5%) and institutions that are particularly impacted by coronavirus (2.5%). Together, we can help your institution—and your students—weather these uncertain times. 1 0 obj endobj Matters discussed in this article are subject to change.
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