CARES Act

Budget and Expenditure Reporting (Quarter 4 2020) - CARES

Budget and Expenditure Reporting (Quarter 1 2021) - CARES

Budget and Expenditure Reporting (Quarter 1 2021 - amended) - CARES

Budget and Expenditure Reporting (Quarter 2 2021)

Budget and Expenditure Reporting (Quarter 3 2021)

Budget and Expenditure Reporting (Quarter 4 2021)

Budget and Expenditure Reporting (Quarter 1 2022)

18004(a)(1)

 

  • Luther Rice College & Seminary signed and returned to the Department of Education the Certification and Agreement pertaining to Section 18004(a)(1) of the CARES Act, and 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 institution received a total of $300 from the Department of Education pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students.  All of those funds have been distributed.
  • The institution sent correspondence to on-campus students impacted by the transition to online courses due to COVID-19 and evaluated their responses as to eligibility for emergency funding with regard to Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act.
  • An estimated 14 students were eligible to receive Section 18004(a)(1) funds
  • Less than 10 students received Section 18004(a)(1) funds

 All funds for the student portion of Section 18004(a)(1) have been exhausted and no further public reporting will ensue – 10/20/2020

  • The institutional portion of the funds go toward reimbursement for COVID supplies

 

18004(a)(3)

  • Luther Rice College & Seminary signed and returned to the Department of Education the Certification and Agreement pertaining to Section 18004(a)(3) of the CARES Act.
  • Student Portion
    • As of 3/31/2022, the institution has drawn down a net amount of $47,925 for student grants
      • $47,925 awarded to spring ’21 Title IV eligible students
  • Institutional Portion
    • As of 3/31/2022, the institution has drawn down a net amount of $346,615.30 to replace lost revenue
    • As of 3/31/2022, the institution has drawn down a net amount of $64,500 for student grants
      • $64,500 awarded to fall ’21 Pell students

CRRSAA

  • Luther Rice participated in the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA) and was awarded a total of $87,337 for student aid. As of March 31, 2022, Luther Rice has awarded funds to the following:
  • Student Portion
    • As of 3/31/2022, the institution has drawn down a net amount of $87,337 for student grants
      • $54,000 awarded to spring ’21 Pell students with United States listed as their country ($500 per student)
      • $2,090 awarded tp spring '22 Pell students
      • $31,247 awarded to spring ’21 students with United States listed as their country and did not receive award above ($159 per student)
  • Institutional Portion
    • As of 3/31/2022, the institution has drawn down a net amount of $1,000 to replace lost revenue
    • As of 3/31/2022, the institution has drawn down a net amount of $47,494 for student grants
      • $47,140 awarded to spring ’21 students with United States listed as their country and did not receive $54,000 Student Portion
      • $354 awarded to summer ’21 Pell students (combined with student portion of ARP; $500 per student)

ARP

  • Luther Rice participated in the American Rescue Plan Act, 2021 (ARP) and was awarded a total of $179,604 for student aid. As of March 31, 2022, Luther Rice has awarded funds to the following:
  • Student Portion
    • As of 3/31/2022, the institution has drawn down a net amount of $77,056 for student grants
      • $30,646 awarded to summer ’21 Pell students with United States listed as their country (combined with student portion of CRRSAA; $500 per student)
      • $46,410 awarded to spring '22 Pell students ($500 per student)
  • Institutional Portion
    • As of 3/31/2022, the institution has not drawn down any funds