Signature Healthcare Brockton Hospital School of Nursing has signed and returned the Certification and Agreement related to the Coronavirus Aid, Relief and Economic Security (CARES) Act, to the U.S. Department of Education.
Higher Education Emergency Relief Fund (HEER)- CARES ACT
The CARES Act Higher Education Emergency Relief Fund-IHE/Student Aid provides funding to institutions to provide emergency financial aid grants to students whose lives have been disrupted, many of whom are facing financial challenges and struggling to make ends meet. Institutions have the responsibility of determining how grants will be distributed to students, how the amount of each student grant is calculated, and the development of any instructions or directions that are provided to students about the grant.
Section 18004(c) of the CARES Act requires Recipient to use no less than fifty percent of the $216,076 received to provide emergency financial aid grants to students for expenses related to the disruption of campus operations due to coronavirus (including eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, health care, and child care).
Signature Healthcare Brockton Hospital School of Nursing (SH/BHSN) agrees to promptly award and refund to students emergency financial aid grants from the HEER funds directly to students for their expenses related to the disruption caused by Covid-19 Pandemic. SH/BHSN will not use the advanced funds to reimburse itself for any costs or expenses.
Student Allocation Process to Award and Disburse HEER Funds
The CARES Act formula divides these funds among students who have completed the FAFSA.
The formula has two distinct parts:
75% of the total HEER funds received will be divided amongst and awarded to SH/BHSN Pell Grant Recipients
25% of the total HEER funds received will be divided amongst and awarded to SH/BHSN Stafford Loan Recipients
For those SH/BHSN students who received both Pell and Stafford Loans, our neediest students, will receive 100% of HEER Fund
Total HEER funds allocated to SH/BHSN students $108,038
$81,028 will be awarded and disbursed to SH/BHSN Pell Recipients, totaling 95 students. $853.03 per student.
$27,010 will be award and disbursed to SH/BHSN Stafford Loan Recipients, totaling 158 students. $170.94 per student.
The Project Director will draw down the HEER funds from G5 using the Federal Award Identifying Number (FAIN) P45E203558. The funds will be drawn down to the SH/BHSN Pell Bank Account.
SH/BHSN Sonisweb Administrator will create 2 new grant award codes, designating these funds as the CARES ACT Cash Grant for Pell Reciepents (CAGP) and for Federal Loan Reciepents (CAGP). These will not be added to the Students’ 1098Ts per federal guidance.
Signature Healthcare Finance Department will use the new CARES Act codes for the HEER Funds designated for Students.
HEER Funds will then be awarded, disbursed and refunded to students. Refund checks will be mailed to the students’ home address with a letter explaining the HEER Funds per federal guidance.