We are thrilled to have received funds from the Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act to distribute to eligible students. The guidelines regarding who can receive the funds were set by the federal government. We are working to get the money to eligible students as quickly as possible and hope to have funds distributed by early June.
Eligible students have been identified based on the following federal guidelines given to us by the Department of Education:
- Student was enrolled at Forsyth Tech in Spring Semester 2020 as of March 13, 2020
- Student was not enrolled online-only prior to the COVID-19 disruption on March 13, 2020
- Student has completed a 2019-2020 Free Application for Federal Student Aid (FAFSA). If you have not completed a FAFSA, you are encouraged to complete the 2019-2020 Free Application for Federal Student Aid (FAFSA) before June 30th so that you can be considered to receive funding.
- Student has a high school diploma.
- If the student is selected for Identify Verification on the FAFSA, he or she must complete the identity verification process to be eligible.
- Student is enrolled in a Title IV eligible program of study.
- Student meets all other Title IV eligibility requirements.
- Student meets the Satisfactory Academic Progress requirements at the time of disbursement. If student is not making Satisfactory Academic Progress, he or she can appeal and if the appeal is approved, he or she will receive funds.
- Student has experienced some COVID-related disruption
If you meet the federal eligibility requirements you will receive an email soon to your Forsyth Tech email address from BankMobile, our refund system, to notify you that your funds have been processed and are available. Please ensure that your preferences for receiving your funds have been updated with BankMobile. The amount you receive is based on your reported EFC (expected family contribution) for the 2019-2020 academic year as determined by your FAFSA.
If you have needs above and beyond the amount you receive, or if you aren’t eligible for the CARES Act grant and need help with anything, including food, rent, utilities, transportation, childcare, tuition, or books, please contact Forsyth Tech Cares or call 336-734-7195. We want to support you all however we can!
Students who meet all the federal criteria will receive a distribution of funds directly to their BankMobile account based on a tiered EFC system in amounts ranging from $100 to $750. As of August 24, 2020, Forsyth Tech has distributed $1,714,432.69 to 2,588 students as part of our distribution of CARES Act funds. More funds will be distributed in the upcoming weeks as we continue to evaluate students based on federal guidelines. Please continue to check your email for communications and updates.
The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.
The total amount of funds awarded to Forsyth Tech under the CARES Act was $5,175,878 with $2,466,903 in student aid dollars, $2,466,902 Institutional aid, and a Strengthening Institutions Award (SIP) allocation of $241,551. We are still awaiting notification and verification of the SIP funding award.
The estimated total number of students at the institution 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.
As of May 26, 2020, we have identified 4,794 Forsyth Tech students who may be eligible to receive CARES Act funding based on the last guidance (May 22, 2020). The number of students verified as eligible under the financial Aid Grants to students under Section 18004(a)(1) of the CARES Act is currently 2,588. However, additional students are potentially eligible to receive the funds if they complete the 2019-2020 FAFSA. The remaining students are under further review pending new guidance from the Department of Education.