CARES Act Funding (FALL 2020)   

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.

• 2020 CARES Act Grant Certification Agreement

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.

• Laredo College has received the U.S. Department of Education Higher Education Emergency Relief Funds (HEERF), funded by the Coronavirus Aid Relief and Economic Security (CARES) Act. Laredo College received a total amount $8,926,222 of which $4,463,111 will be distributed to  eligible Title IV students affected by the COVID-19 pandemic.

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 30-day Report and every 45 days thereafter).

• As of 11/2020, Laredo College has distributed $1,355,200 of CARES Act Funding.

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.

• Laredo College has identified approximately 3,538 Title IV eligible students to receive the Emergency Cares Act Funding for Fall 2020.

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

• Out of 3,538 Title IV eligible students 1,694 have received Emergency Financial Aid Grant.

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.

• FALL 2020:

  • Laredo College awarded $800.00 to all students who were Title IV eligible for 2020 - 2021 aid year and submitted a Cares Act application.

  • U.S. Citizen or an eligible non-citizen (including a U. S. National or Permanent Resident)

  • Have completed the 2020 – 2021 Free Application for Federal Student Aid (FAFSA), to apply visit  www.fafsa.ed.gov

  • Complete Verification, if selected

  • Must meet Financial Aid Satisfactory Academic Progress (2.0 GPA and 67% completion rate)

  • Be enrolled for at least 3 eligible credit hours or more in an eligible degree or certificate program for the Fall 2020 Semester

  • NOTE:  Students enrolled in online courses during Spring Semester 2020 are not eligible for the CARES Act Funding for 2020 -2021.

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

• Laredo College created a  CARES Act information website dedicated to provide up-to-date CARES Act Funding information to Laredo College students and community.

  Laredo College will notify eligible students of the process and any additional requirements.

Do I need to complete a FAFSA to receive CARES Act funds?

• Yes, students must have a successfully completed FAFSA on file. Students who have not filed a FAFSA, and are in need of financial assistance, should immediately file a 2020 - 2021 FAFSA.

How do I know if I am eligible to file a FAFSA?

• The eligibility criteria to file a FAFSA, as outlined in Section 484 of the Higher Education Act (HEA), include but are not limited to the following:
  • U.S. citizenship or eligible noncitizen
  • Valid Social Security number
  • Registration with Selective Services, if male
  • High school diploma, GED, or completion of high school in an approved homeschool setting

Can dual enrolled students be eligible for the CARES Act Funding?

• No, unfortunately those students are not eligible.

Can undocumented students and international students receive funds under the CARES Act?

• No, international and undocumented students are not eligible for CARES Act funding.

Are students enrolled in a non-degree or certificate program eligible for CARES Act funds?

• No, only students enrolled in a degree-seeking program are eligible.

Do I need to be meeting satisfactory academic standards (SAP) to receive funds?

• Yes, to be eligible for CARES Act funding, you must meet Satisfactory Academic Progress (SAP) standards, which are established by the Financial Aid & Veterans Affairs Services Center following Federal guidelines.

I have an outstanding tuition/housing balance for the current semester; would these funds be applied to that balance?

• No, the funds will be sent directly to you.

How long before I receive funds?

• Requests will be processed on a first-come, first-served basis.

How will I receive funds if my request is approved?

• Direct deposit is the fastest way to receive your funds. If you do not have direct deposit with the Bursar’s Office, please request the BankMobile Option.

Can these funds affect other aid that I have already received?

• No, CARES Act Funds will not reduce your financial aid package.

Are CARES Act Funds taxable and included on a 1098-T?

• It’s unclear at this time, but it appears that these grants may be legally exempt from 1098-T reporting and exempt from taxation altogether.

How much funding is available?

• We will keep you updating on the award amounts for each student.

If I have an institutional debt (Emergency Loans, TPEG Loans, Return 2 Title IV, Installment Plan, etc), will I have to use the CARES Act Emergency Funding to cover this debt(s)?

• No, the CARES Act requires institutions to provide the emergency financial aid grants to student. It will be up to the student to use the CARES Act Emergency Funding to pay the outstanding balance.