Over $3M In Cares Act Money To Tech Students

CARES Act money reimbursed some 7,000 Tech students more than $3.7 million.

Under the terms of the CARES Act, students could be reimbursed for expenses related to the disruption of campus operations. That includes items such as food, housing, course materials, or technology.

“We do have approximately $626,000 still available to make awards to students in the fall and the upcoming spring,” Vice President Claire Stinson said. “We do have one year that we can extend funds from this CARES Act.”

Stinson said 50 percent of the emergency funding under the CARES Act went to reimbursing students. The other 50 percent went to the University. Roughly $3.2 million went to reimburse the university after it refunded housing and meals plans. Stinson said another $190,000 was used to move classes online.

Stinson said that money helped Tennessee Tech break even during the spring semester despite the shutdown. She said it is the first time all of Tech’s revenue sources were hit simultaneously.