Payne signed and returned to the Department of Education 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.
The Seminary has received $25,666 from the Department pursuant to pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to students.
Payne will distribute no less than $12,833 to students under Section 18004(a)(1) of the CARES Act for which the institution submitted said Certification and Agreement on July 17, 2020.
Approximately 130 students at Payne are eligible to participate in the Federal Student Financial Aid program under section 484 of the Higher Education Act of 1965, as amended, and thus are eligible to receive Emergency Financial Aid grants under Section 18004(a)(1) of the CARES Act.
As of November 19, 2020, 26 students were awarded $10,400 in Emergency Financial Aid grants under Section 18004(a)(1) of the CARES Act. Remaining funds will be awarded upon the receipt of applications.
The methods used by Payne to determine which students receive Emergency Financial Aid Grants are congruent with the Federal Student Financial Aid program under 484 of the Higher Education Act of 1965. Major criteria will include, but be not limited to, (1) satisfactory academic progress and (2) financial need related to costs associated with food, housing, course materials, technology, healthcare, and childcare. Available on a first-come, first-serve basis, grants are therefore awarded based on applications that demonstrate said need whose process is otherwise laid out on our student information system.
Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants can be found at CARES Act: Higher Education Emergency Relief Fund.