Approval to spend authorized HEERF Funds to reduce current students' debt to Kentucky State University.

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.

The University seeks approval to spend a portion of these funds on reducing the debt enrolled students owe to the institution.

The University will use approximately $1.8 million to increase institutional aid to currently enrolled students with debt obligations to Kentucky State University.

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.

Approve the use of unspent HEERF funds for the creation of student scholarship awards.