Financial Aid

CARES Act

CARES Act Emergency Grant HEERF-Student

  1. Bank Street College 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.
  2. The total amount of funds Bank Street College has received from the Department of Education pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is $270,095.
  3. The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act is $124,022. We will be distributing the $146,073 to students in the 2021-22 academic year.
  4. The estimated total number of students at Bank Street College 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 375.
  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 124.
  6. 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 are as follows:
    1. Document and identify eligible grant applications from Title-IV eligible students attending on-site degree programs.
    2. Pay close attention to upholding the “disruptions to on-campus operations” criterion in examining each student’s request.
    3. Set awarding categories and criteria:
      1. Computer purchase (set amount)
      2. Technology expenses for online learning (subject to professional judgment, up to $1,000)
      3. Room and Board assistance (subject to professional judgment, with Bank Street College standard room and board rates as a guideline, in cases that are related to a disruption of on-campus operations)
      4. Childcare (subject to professional judgment)
      5. Travel expenses (subject to professional judgment, in cases that are related to a disruption of on-campus operations)
      6. Other expenses related to a disruption of on-campus operations (for example: temporary loss of non-FWS on-campus employment, and health-related expenses due to the unavailability of on-campus services)
    4. A Scholarship Committee (SC), made up of four representatives from three different departments (Financial Aid and Admissions), reviewed all eligible applications and allocated aid according to the above criteria.

More Information

This is a summary of the administration of the CARES Act Relief Fund at Bank Street College. If you have any questions about applying or have other questions, please contact Emmett Cooper, Director of Financial Aid at ecooper@bankstreet.edu.

 

Last Updated: 07.07.2021