CARES Act Emergency Grants to Students
On April 15, 2020, New Mexico Tech signed and returned the CARES Act Certification and Agreement to the Department of Education. By signing this document, New Mexico Tech intends to use no less than 50% of our allocation to provide Emergency Financial Aid Grants to students. The details of our agreement are as follows:
- New Mexico Tech will receive a total of $1,353,198 from the CARES Act. Of this, $676,599 will be used to make Emergency Financial Aid Grants to students.
- First disbursements were made on May 28, 2020. At this time $485,000 was distributed to 388 students.
- Additional disbursement was made for students required to quarentine for the fall semester on 8/26/2020. A total of $11,927 was distributed to 23 students.
- A total of $91,300 was disbursed to 334 students on 11/16/2020.
- The remaining $87,822 will be reserved to make disbursement during the spring 2021 semester.
- Our estimates show that up to 750 students could potentially be eligible for funding from this program.
- Eligibility for this program is determined as follows:
- Student must have a 2019-2020 FAFSA on file.
- The student must be eligible to receive federal financial aid.
- We will use at least two-thirds of our allocation to make initial and equal awards to eligible students. The remaining one-third will be used to consider any applications received after May 15th and evaluate any situations that could be considered for additional funding.
If you have any questions, please contact the Financial Aid Office.