Download: Quarterly Budget and Expenditure Reporting under CARES Act (03/31/2023)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (12/31/2022)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (9/20/2022)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (6/20/2022)
Download: Quarterly Budget and Expenditure Reporting under CARES Act (4/02/2022)
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 (12/31/2022)
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 Mesivta
Torah Vodaath Rabbinical Seminary as required by the Department of Education
(“ED”) in order to comply with the reporting requirements under the CARES Act.
This is MTVRS’s final Quarterly progress report and presents information as of March 31, 2023. 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.
Mesivta Torah Vodaath Rabbinical Seminary 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. MTVRS received its grant award
notification dated May 5, 2020. In keeping with the terms of the certification,
MTVRS 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.
Mesivta Torah Vodaath Rabbinical Seminary has received a total of $459,637 under
Section 18004(a)(1) of the CARES Act, of which $229,819 is to be provided
directly to students impacted by campus disruption due to the Covid-19 crisis.
As a result of the CRRSAA Act signed on December 27, 2020, we received an additional $229,819 for student grants.
On May 16, 2021 we received an additional authorization of $636,393 for student grants.
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, 2023, awards totaling
$1,096,031 have been made.
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.
Mesivta Torah Vodaath Rabbinical Seminary estimates approximately 800 students
are eligible to receive Emergency Financial Aid Grants to students under Section
18004(a)(1) of the CARES Act, and CRRSAA.
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 832.
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. New funds under HEERF will
be based on any established need.
Although FAFSA completion is no longer a requirement,
since we have a large percentage of needy students
who do complete the FAFSA, we do use the information
from the processed FAFSA to ascertain exceptional need.
In the event that students have not completed the FAFSA,
they may apply directly to their Rosh Hayeshiva or
Rosh Chaburah who are usually already familiar with
a given student’s financial situation.
Specific grants will be determined based on need as
established by instructor, and range from $500 to $12,000 per student, cumulatively.
7. Any instructions, directions, or guidance
provided by the institution to students concerning the Emergency Financial Aid
Grants.
Students were 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 were subsequently informed that Title IV eligibility is no longer
required and that they should apply to administrative representatives for grants.