Talmudical Seminary of Bobov

Quarterly Report for CARES Act Funding

Emergency Financial Aid Grants to students required Quarterly report

Download: Quarterly Budget and Expenditure Reporting under CARES Act (4/10/2022)

Download: Quarterly Budget and Expenditure Reporting under CARES Act (1/10/2022)

Download: Quarterly Budget and Expenditure Reporting under CARES Act (10/10/2021)

Download: Quarterly Budget and Expenditure Reporting under CARES Act (6/30/2021)

Download: Quarterly Budget and Expenditure Reporting under CARES Act (3/31/2021)

Download: Quarterly Budget and Expenditure Reporting under CARES Act (12/31/2020)

Download: Quarterly Budget and Expenditure Reporting under CARES Act (10/29/2020)

CARES Act – Emergency Financial Aid Grants to Students Required Quarterly Report (3/31/2022)

On March 27, 2020, the President of the United States signed the CARES Act (H.R. 748), which provides emergency relief funds to organizations and individuals affected by the coronavirus pandemic. The Higher Education Emergency Relief Fund (HEERF), found in Section 18004 of the CARES Act, provides funding to institutions of higher education “to prevent, prepare for, and respond to coronavirus.” The following information is provided by Talmudical Seminary of Bobov as required by the Department of Education (“ED”) in order to comply with the reporting requirements under the CARES Act. This is TSOB’s seventh Quarterly progress report and presents information as of March 31, 2022. Additional reports will be provided quarterly.

Quarterly Report For CARES Act Funding 

1.  An acknowledgement that the institution signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, or intends to 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.

Talmudical Seminary of Bobov signed and returned the Certification and Agreement to the U.S. Department of Education on April 27, 2020 for the HEERF Funds for Emergency Financial Aid Grants. TSOB received its grant award notification dated May 7, 2020. In keeping with the terms of the certification, TSOB will use no less than 50% of the funds received, as stated under 18004(c) of the CARES Act, to provide Emergency Financial Aid Grants directly to students.

2.  The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.

Talmudical Seminary of Bobov will receive a total of $949,733 under Section 18004(a)(1) of the CARES Act, of which $474,867 is required to be provided directly to students impacted by campus disruption due to the Covid-19 crisis. Inasmuch as our students have demonstrated greater need than our initial allotment, we have decided to use a portion of our Institutional Share of the Grants to fund our students. See item 3 below for amounts disbursed to date. As a result of the CRRSAA Act signed on December 27, 2020, we will receive an additional $474,867 in funding for student grants. On May 20, 2021, we received an additional student authorization of $1,391,352.

3.  The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of submission (i.e., as of the Quarterly Report and every quarter thereafter).

 As of March 31, 2022, awards totaling $2,920,486.50 have been made, of which $1,233,752 consisted of Insitutional CARES Act funds.

4.  The estimated total number of students at the institution eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.

Talmudical Seminary of Bobov estimates approximately 408 students are eligible to participate in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act. NOTE: New HEERF regulations eliminated the Title IV eligibility requirement, which increased our eligible student count to 598.

5.  The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.

As of the date of this Quarterly Disclosure, the total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act is 598.

6.  The method(s) used by the institution to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act.

The institution will select student recipients for the CARES Act Grants based on the Student’s eligibility for Title IV funds as determined by ISIR’s received with all agency matches performed successfully. Although this requirement is no longer in effect, since we have a large percentage of needy students who do complete the FAFSA.

We use information from the processed FAFSA to ascertain exceptional need. In the event that students have not completed the FAFSA, needy students may also apply directly to their instructor, who are usually already familiar with a given student's financial situation.

Specific grants will be determined based on need as established by instructor. Funds allocated were apportioned according to marital status. Married students, who were assumed to have higher expenses, received grants of $4000.00. Single student grants were $2000 per student.

7.  Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants.

Students are informed through this website, as well as through our administration representatives, including our financial aid officers, as to the existence of this grant and the fact that we were requiring FAFSA completion in order to determine Title IV eligibility, a requirement for receipt of the CARES Act grant. NOTE: Students are no longer required to be Title IV eligible, and should speak to their instructors or to our administrator to request a grant.