CARES Act

As part of its Coronavirus Aid, Relief, and Economic Security Act (CARES) Act the federal government has allocated an amount of funding to higher educational institutions called Higher Education Emergency Relief Fund (HEERF).

Pursuant to the CARES Act, the Rabbinical College Ohr Yisroel (RCOY) has received funds to distribute directly to its students “to help cover expense related to the disruption of campus operations due to coronavirus”. Eligible expenses under a student’s cost of attendance may include food, housing, course materials, technology, utilities, and transportation, health care and childcare.

PUBLIC REPORTING COMPLIANCE:

  1. RCOY acknowledges that it has signed and returned to the U. S. Department of Education the mandatory Certification and Agreement. RCOY confirms its intention to use no less than 50 percent it will receive under Section 18004(a) (1) of the CARES Act to provide Emergency Financial Aid Grants to students.
  2. The total amount of funds RCOY has received from the Department to date pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students is $88,302.
  3. The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a) (1) of the CARES Act as of the date of this initial 30-day report is $88,302.
  4. The estimated total number of currently enrolled full time students at RCOY who have filed a FAFSA eligible to receive Emergency Financial Aid Grants of the CARES Act: 53
  5. Total number of students who have received an Emergency Financial Aid Grant of the CARES Act: 53
  6. Since the financial circumstances and economic condition of the RCOY’s eligible student body predominantly compare to each other, the institution implemented the principle whereby all eligible students shall be awarded an equal amount of $1,670. 
  7. Students have been informed of all grant requirements.