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NMC releases $200K to students
Gov. Ralph DLG Torres and TanHoldings chief executive officer Jerry Tan show Federal Emergency Management Agency staff the contents of the gift bags the Tan Siu Lin Foundation donated to the CNMI’s front-liners. (CONTRIBUTED PHOTO)
The Northern Marianas College has released approximately $200,000 in federal funds under the newly enacted CARES Act to its students last week and continues to issue more.
NMC reports that about 300 students have received federal financial aid through direct deposit and mailed checks in the last week.
The college’s Finance Office is working on releasing the next batch of funds this week, according to NMC interim president Frankie Eliptico. “We are glad that our students are able to get the financial assistance they need during these unprecedented times. Our finance team is working hard to make sure the second batch of grants gets sent out this week,” he said.
Guidance from the U.S. Department of Education clarified that the funds should only be distributed to those students who have demonstrated eligibility to file a Free Application for Student Aid or FAFSA form.
FAFSA is a free form from the U.S. Department of Education that prospective and current college students fill out in order to determine eligibility for federal financial aid, such as Pell grants.
Additionally, only students who were registered in NMC’s spring 2020 semester are eligible for the CARES cash grant.
Approximate amounts are $700 for eligible full-time students and $350 for eligible part-time students. Full-time students are those who have 12 or more credits. Part-time are those who have 11 credits and below. The college has about 1,200 students.
The funds were specifically allocated to NMC students from the CARES Act to help students weather the impacts of COVID-19. The CARES Act, which was passed into law last month, requires that half of the funds allocated to NMC, or $920,000, must be reserved for NMC students whose lives and educations have been disrupted by the coronavirus outbreak.
The U.S. Department of Education has allocated approximately $1.8 million through this grant to NMC using a formula that provides funds to institutions of higher education throughout the country.
