The Coronavirus Aid, Relief and Economic Security (CARES) Act was passed by Congress and signed into law to provide economic relief from COVID-19.
NMT signed and returned the Certification and Agreement to the U.S. Department of Education and intends to use no less than 50 percent of the funds received of the CARES Act to provide Emergency Financial Aid Grants to students.
A total of $1,353,197 was awarded to NMT under section 18004(a)(1). $676,599 was applied to emergency financial aid grants to students and $676,598 was assigned for the Institutional portion, of which almost half of the amount has been applied toward refunds of room and board charges made to student accounts.
NMT received additional CARES Act funding as a recognized minority serving institution
(MSI). A total of $101,058 was awarded to NMT under section 18004(a)(2).
The quarterly reports representing the use of these funds: