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05/19/2020

The Higher Education Emergency Relief Fund (HEERF) 30-day Fund Report

The U.S. Department (the Department) requires each school applying for HEERF funds to comply with Section 18004(e) of the CARES Act and submit an initial report (the 30-day fund report) to the Secretary thirty (30) days from the institution’s receipt of the funds.

Since the Department has not issued instructions for providing the required information to the Secretary, each HEERF participating institutions must post the following information on the institution’s primary website.

  1. Beloit College (the College) signed and returned to the Department the Certification and Agreement on April 13, 2020. The College intends to use no less than 50 percent of the total funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
  2. The total amount of funds Beloit College received was $543,185.
  3. As of this report, the College has distributed $110,000 to students under Section 18004(a)(1) of the CARES Act.
  4. There were 687 Beloit College students enrolled for the Spring 2020 semester that were eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to be considered for Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
  5. There are 275 Beloit College students who have received an Emergency Financial Aid Grant for students under Section 18004(a)(1) of the CARES Act.
  6. The College determined they would award the first round of Emergency Financial Aid Grants to Pell-eligible students in the amount of $400 each.
  7. Guidance and instructions for requesting additional financial assistance was posted on the Beloit College Financial Aid page at: https://www.beloit.edu/offices/financial-aid/requesting-additional-financial-assistance/

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