In May 2020, Midwestern Baptist Theological Seminary became a recipient of the CARES Act. In accordance with the details of the grant, the institution plans to award no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide emergency financial aid grants to students. The institution received $233,499 from the Department of Education specifically for emergency financial aid grants to students.
As of September 30, 2020, the institution has disbursed $172,839 in emergency financial aid grants to 92 students under Section 18004(a)(1) of the CARES Act. Students who were potentially eligible were encouraged to complete the FAFSA and an emergency aid request form. Other students who were already eligible were distributed funds based on expenses incurred, as calculated by the institution.
In addition to the student portion, the Seminary also received funding from the Department of Education specifically for expenses related to the disruption of campus operations due to COVID-19. As of September 30, 2020, the Seminary used $83,202 out of $233,498 authorized for qualified expenditures of the institution.
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Source: Midwestern Baptist Theological Seminary