Higher Education Emergency Relief Fund (HEERF) Update

/in ,

Please note: This blog is current to the date of its publication, Thursday, Sept. 10. For additional updates or assistance navigating these uncertain times, please contact us or visit our SST COVID-19 resource page.

 

The Department of Education (ED) published a revised Electronic Announcement (EA) on Aug. 28, 2020, which impacts all recipients of the Higher Education Emergency Relief Fund (HEERF). The revised EA maintains the same seven reporting elements, with an update to the reporting cadence for the total amount of Emergency Financial Aid Grants distributed to students.

The original EA states: 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 submission (i.e., as of the 30-day report and every 45 days thereafter)

The revised EA states: 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 submission (i.e., as of the initial report and every calendar quarter thereafter)

Additionally, on Sept. 3, 2020, the ED reopened the application period for various HEERF programs, listed below:

  • 425E Student Aid portion of section 18004(a)(1)
  • 425F: Institutional portion of section 18004(a)(1)
  • 425J: Historically Black Colleges and Universities under section 18004(a)(2)
  • 425K: Tribally Controlled Colleges and Universities under section 18004(a)(2)
  • 425L: Minority Serving Institutions under section 18004(a)(2)
  • 425M: Strengthening Institutions Program under section 18004(a)(2)
  • 425N: Fund for the Improvement of Postsecondary Education (FIPSE) formula awards under section 18004(a)(3)
  • 18004(a)(1) reserve applications for the IHEs that did not initially apply for the (a)(1) reserve funds
  • 18004(a)(2) applications for eligible branch campuses whose main campuses did not receive an award and who did not initially apply for the (a)(2) reserve funds
  • 18004(a)(3) applications for grantees with identified risk factors that are required to submit Budget and Expenditure Reporting in order to demonstrate their proposed use of funds

Institutions will now have until Sept. 30, 2020, to transmit their Certification and Agreements (applications) at www.grants.gov. For expert guidance on navigating the HEERF and its reporting requirements, contact SST today.

Special thanks to SST Senior Audit Manager Aaron Lohman, CPA for providing the content for this post. Click here to learn more about Aaron.

Return to News