Federal CARES ACT


What is the Federal CARES ACT?

It stands for Coronavirus Aid Relief and Economic Stimulus and is intended to provide direct economic assistance to those impacted by the pandemic.

How much will I receive?

Awards will be based on students level of enrollment at the end of business on September 3, 2021 for applicants prior to that date enrolled in 16 week classes.  All future applicants will be awarded based on enrollment the date each application is reviewed or after the end of the add/drop period if only enrolled in late starting classes.  Students must be enrolled in at least 6 credit hours.  6 - 11.5 credit hours = $500, 12-14 credit hours = $1,000, 15 more more credit hours = $1,500.
 

How will I receive the payment?

Funds will be paid directly to students via a paper check or direct deposit, and are issued according to the student’s refund selection on record with SRC through Nelnet.  Please make sure your address with SRC is up to date. You will receive an e-mail from Nelnet with directions on how to update/make your refund selection option. You will have 24 hours from the time of this e-mail to update your refund option.
 

What if I have an outstanding balance due to the College?

Students who have authorized payment of outstanding balances will first have the award applied to any outstanding balance due with the remainder refunded according to the refund option selected by the student.

What expenses are covered?

Funds are available to students for the sole and exclusive purpose of providing emergency financial aid grants to students for their expenses related to the disruption of campus operations due to COVID-19, such as food, housing, course materials, technology, health care and child-care expenses.

Will this money be considered as part of my income?

No, you do not have to report this as income when filing a FAFSA, and it is not considered financial aid when calculating financial need and award eligibility.
The Department of Education is has determined CARES Act funding will not be listed on a 1098T.  This is NOT considered taxable income. IRS Website

Are there any other financial opportunities for students?

The following may be available:
1. If you have experienced a loss of job or benefits and do not already qualify for the maximum amount of financial aid, you may be able to file a Special Conditions form for the 2021-2022 Academic Year.  Contact Financial Aid at 309-649-7030.
2. Spoon River College Foundation Emergency Hardship Grant Application Spoon River College Foundation
3. Unemployment Benefits - please note eligibility has been expanded. See Illinois Department of Employment Security

What if I have other questions?

For additional details about the use of Federal CARES Funds or Spoon River College’s response to COVID-19, please monitor the college website at Spoon River College. You may also call the financial aid office at 309-649-7030, or the Business Office at 309-649-7021.


Awarding Information

Spoon River College received $1,379,469 for student grants under the Higher Education Emergency Relief Fund (HEERF III).  $331,301 was awarded and paid to students on September 17, 2021, $7,000 was awarded and paid on September 24, 2021.  An additional $5,225 was awarded and paid on October 5, 2021.

Spoon River College received $308,824 for student grants under Higher Education Emergency Relief Fund (HEERF II) and awarded $84,950 to 183 students for Summer 2021 to students who completed an application by the end of June 2021.  Dual credit student were awarded based on tuition charged and enrollment level.  Remaining applicants were awarded based on enrollment level with $0 Expected Family Contribution FAFSA filers awarded first.  Summer awarding will continue through the end of the Summer 2021 semester.  Additional summer awards totalling $5,500 were awarded to Summer applicants who applied after the initial awarding.  Total awards expended during Summer 2021 equal $90,450 to 198 unduplicated students.  The remaining funds of $218,374 were awarded during the Fall 2021 semester on September 17, 2021.  

Spoon River College received $308,824 for student grants and awarded $272,000 to students for the Spring 2020 semester who met the above requirements on May 19, 2020.  Each student was awarded $400.  An additional $8,940 was awarded to students on June 4th who had applied for Emergency Hardship Grants through the Spoon River College Foundation for the Spring 2020 semester and $300 for the Summer 2020 semester. A total of  $281,240 has been distributed to 680 students as of June 4, 2020 with $27,584 remaining to be awarded.  The estimated total number of students eligible to participate in Title IV programs at Spoon River College is 867.  All information above was provided to each recipient.  Six students have been awarded a total of $3,700 during the Fall 2020 semester.  Total funds awarded as of October 30, 2020 equal $284,940, with funds remaining to be awarded equaling $23,884.  An additional 15 students were awarded $12,700 between November 1 and December 31.  Total funds awarded as of December 31, 2020 equal $297,640, with funds remaining to be awarded equaling $11,184. An additional 16 students were awarded $9,587 between January 1, 2021 and March 31, 2021 for a total of 698 unduplicated students awarded.  Total funds awarded as of March 31, 2021 equal with funds remaining to be awarded totaling $1,597.  The remaining $1,597 in funding was awarded to 2 additional students on April 6, 2021.  Total amount awarded for the student portion of the grant equals $308,824 as of April 6, 2021 to 699 unduplicated students.


Institutional Portion Awarded 

Spoon River College received $308,824 for institutional use for COVID-19 related expenses.  Quarterly reports of expenditures can be found here:

October 2020    January 2021    April 2021    June 2021

HEERF II & HEERF III Institutional Portion

Spoon River College received $1,197,342 for institutional use for COVID-19 related expenses under HEERF II and $1,250,573 under HEERF III for institutional use for COVID-19 related expenses.  Quarterly reports of expenditures can be found here:

October 2021    June 2021


Page created on May 19, 2020.  Updated June 25, 2020. Updated August 3, 2020. September 17, 2020. October 30, 2020. January 8, 2021. April 9, 2021. July 8, 2021. September 30, 2021. October 7, 2021

This page is maintained for reporting purposes.