Webb Institute is required to provide regular reporting on the use of funds authorized by the CARES Act. Funds received by Webb Institute under the CARES Act were authorized by Congress and signed into law by the President on March 27, 2020. Section 18004(e) of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or the “Act”)), Pub. L. No. 116-136, 134 Stat. 281 (March 27, 2020), directs institutions receiving funds under Section 18004 of the Act to submit a report to the Secretary describing the use of the funds.
Under Section 18004(a)(1) of the Act, Webb was allocated $41,119. $20,560 shall be allocated to students in the form of grants for expenses related to the disruption of campus operations due to coronavirus, and the remaining funds are available to Webb to offset costs incurred due to COVID-19.
The following documents the process for obtaining funds and Webb’s allocation of the funds.
- Webb Institute signed and submitted to the U.S. Department of Education on April 13, 2020, the Recipients Funding Certification and Agreement for Emergency Financial Aid Grants to Students. Webb received Grant Award Notification for the USDOE dated May 13, 2020.
- Webb Institute has received $20,560 in emergency grant aid for students.
- As of July 10, 2020, Webb Institute distributed all of the funds to students.
- A total of 102 students enrolled at Webb Institute during the spring 2020 semester are undergraduate students eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965, and therefore eligible to receive these Emergency Financial Aid Grants.
- Webb Institute provided the grants to all full-time undergraduate students who were enrolled at Webb over the course of the spring semester (March 2 – June 20, 2020), filed a FAFSA, and whose Expected Family Contribution (EFC) was less than $15,500. A total of 21 students received aid. Each student received $980 for a total distribution of $20,580.
- A letter (see attached) was sent to each student receiving the emergency aid explaining (a) that the Higher Education Emergency Relief Fund (HEERF) is the source of the funding, (b) the process used to determine the distribution of the funds, (c) and that the funds are to be used to cover expenses related to disruption of campus operations due to COVID-19 (including food, housing, course materials, technology, health care, and child care).
- Webb Institute has continued to pay all its employees. The Institute has continued to pay contractors to the greatest extent practicable.