The CARES Act is federal legislation which provides a variety of financial support to individuals and businesses affected by the COVID-19 pandemic. The CARES Act established and funded the Higher Education Emergency Relief Fund (HEERF) to provide emergency financial aid grants. One part of this federal program allocates money to Lively Technical College, and a portion of that allocation can be awarded to students who are experiencing expenses due to the corona virus.
These funds were available to students for emergency financial aid or grants to students to cover basic needs such as “food, housing, course materials, technology, health care, and child care.” Student eligibility was determined according to strict guidance from the United States Department of Education. Available funds varied based on part-time or full-time status and financial need.
Lively has signed and returned to the Department the Certification and Agreement and the assurance that Lively 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. Lively has received a total allocation of $942,497.00. Of the total allocation, $471,249.00 was used for Emergency Financial Aid Grants to Students. Lively anticipated approximately 650 students to be 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.
On April 13, LTC signed and returned to ED the Certification and Agreement (for) Emergency Financial Aid Grants to Students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. In doing so, LTC provided ED the assurance that LTC 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.
On April 28, LTC received $471,249.00 from ED pursuant to LTC Certification and Agreement (for) Emergency Financial Aid Grants to Students.
On May 5, LTC published information about the CARES Emergency Financial Aid Grants on its public website and in the student FOCUS portal. On May 22, 2020 LTC began accepting requests for this assistance from students.
As of June 29, LTC has distributed $471,744.96 of the Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act. LTC provided students with notice of award status and choice of picking up or having checks mailed. For students choosing to pick up their award, checks were available for student pick up on June 16, 17th and 18th. All checks not picked up were mailed to students.
(Last updated: 04/06/2021)
Students who met basic eligibility criteria for federal financial aid and who had the greatest financial need were considered for these funds.
This could apply to a variety of financial costs directly tied to the effects of an emergency situation that is straining Lively Technical College students. This could include money spent for unanticipated travel, replacement of medications, emergency child care due to extended school closures, additional technology requirements, etc.
Do I have to repay a dollars from the CARES Federal Emergency Aid Grant?
No, money received through this fund does not need to be repaid. This fund does not impact nor replace any financial aid you may currently receive, and it is a one-time grant.
Would this funding reduce my financial aid?
No, this fund does not negate nor replace financial aid, and it is a one-time grant.
How much money is available for each applicant?
Amounts vary based on enrollment status.
Do I need to report financial aid or grants on my federal tax return?
The IRS issued FAQs on the Higher Education Emergency Relief Fund and Emergency Financial Aid Grants under the CARES Act that clarifies that CARES Act aid should be treated as a “qualified disaster relief payment” and not be treated as taxable income. Visit the https://www.irs.gov/ for more information.
How can I use the money?
Grants are refunded to you to use for expenses incurred due to COVID-19.
How many times can I apply?
What if I currently owe tuition or other expenses to Lively?
The full amount of the emergency grants will be given directly to students and will not pay outstanding balances owed to Lively. Any outstanding balance owed to Lively remains the responsibility of the student.