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            "text": "KENTUCKY STATE UNIVERSITY BOARD OF REGENTS",
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            "text": "ACTION ITEM 11D",
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            "text": "Approval to spend authorized HEERF Funds to reduce current students' debt to Kentucky State University."
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            "text": "The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was passed by Congress on March 27, 2020. This bill allotted $2.2 trillion to provide fast and direct economic aid to American people negatively impacted by the COVID-19 pandemic. Of that money, approximately $14 billion was given to the Office of Postsecondary Education as the Higher Education Emergency Relief Fund, or HEERF. The Department of Education authorized $19,814,253 to Kentucky State University, of which $7,541,301 currently remains available until October 30, 2023."
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            "text": "The University seeks approval to spend a portion of these funds on reducing the debt enrolled students owe to the institution."
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            "text": "BUDGETARY IMPLICATIONS:",
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            "text": "The University will use approximately $1.8 million to increase institutional aid to currently enrolled students with debt obligations to Kentucky State University."
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            "text": "RECOMMENDATION:",
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            "text": "Interim President Ronald A. Johnson recommends that the Kentucky State University Board of Regents approves the use of HEERF funds for the creation of student scholarship awards."
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            "text": "Approve the use of unspent HEERF funds for the creation of student scholarship awards."
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            "text": "Page 102 of 155",
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            "text": "Finance and Administration",
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