Midwestern CARES Act and CRRSAA Funds Update

Posted April 10, 2021 by Staff

Last May 2020, Midwestern Baptist Theological Seminary received $500,000 in federal Coronavirus Aid, Relief and Economy Security Act (CARES Act) funding with $233,499 designated to provide grants to eligible enrolled students experiencing educational disruptions due to the COVID-19 pandemic. The remaining $233,498 was defined as the Institutional portion, and $33,003 was allocated as the Fund for the Improvement of Post- Secondary Education (FIPSE).

In February 2021, MBTS received an additional $948,700 grant through the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA), with $233,499 designated for the continued support of students who have an exceptional need due to COVID-19. Furthermore, CRRSAA broadens the eligibility of funds awarded to students. The remaining $715,201 was designated as the Institutional portion to cover lost revenue, reimbursement for expenses already made, technology costs associated with distance education, faculty and staff training, as well as student support.

As of March 31, 2021, MBTS distributed $180,921 of this award to 98 students under Section 18004(a)(1) of the CARES Act. The Seminary also utilized a total of $408,797 of the Institutional portion to help defray expenses and lost revenues related to the disruption of campus operations due to COVID-19.

Fund Summary as of March 31, 2021:
 

Designation CARESAct CRRSAA Total Used Remaining
Student $233,499 $233,499 $466,998 $(180,921) $286,077
Institutional $233,498 $715,201 $948,699 $(408,797) $539,902
FIPSE $33,003   $33,003   $33,003
Total $500,000 $948,700 $1,448,700 $(589,718) $858,982

 
Spurgeon College or Midwestern Baptist Theological Seminary students who feel they may be eligible and who have completed a 2019-20 FAFSA should complete an emergency aid request. When both of these requirements have been met, the institution will review the aid request and distribute funds, if allowable. For additional questions, please reach out to financialaid@mbts.edu.