New York Institute of Technology Grants to Students Under the CARES Act

Final Report: July 10, 2020

New York Institute of Technology has received funding from the Federal government and has used the funds to distribute grants to students in accordance with the CARES Act (Coronavirus Aid, Relief, and Emergency Services Act). The details of this funding follows:

1. New York Institute of Technology has signed and returned to the United States Education Department a Certification and Agreement, which includes the assurance that the institution will 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.
2. The total amount of funds that New York Institute of Technology has received from the Department pursuant to its Certification and Agreement for Emergency Financial Aid Grants to Students is $2,188,605 (this is the required 50% of the total funds received under Section 18004(a)(1) of the CARES Act).
3. The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of May 19, 2020 is $2,194,909.
4. The estimated total number of students at New York Tech 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 is 4,900.
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 is 4,507.
6. New York Institute of Technology has distributed the Emergency Financial Aid Grants in equal amounts to all students enrolled full-time for the Spring 2020 term who have filed verified FAFSA forms (Free Application for Federal Student Aid) and who were not enrolled in a program which was entirely online. Each student has received a tax-free grant in the amount of $487.
7. Students who have received the Emergency Financial Aid Grants have been instructed that, in accordance with the CARES Act, the funds are to be used for expenses related to the disruption of campus operations due to the coronavirus (including eligible expenses under a student's cost of attendance such as food, housing, course materials, technology, healthcare, and child care).

7/10/2020: The entirety of funds that New York Institute of Technology received from the US Department of Education pursuant to its Certification and Agreement for Emergency Financial Aid Grants to Students under Section 18004(a)(1) of the CARES Act had been distributed to students as described above and no further updates to this report will be posted.