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CARES Act Institutional Portion

Updated as of 12/31/20

1.  This is to acknowledge that Babson College signed and returned to the Department of Education the Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund Formula Grants Authorized by Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act on July 28, 2020.

2. $880,995 - The total amount of funds that the institution received from the Department pursuant to the institution’s Certification and Agreement [for] Institutional Portion on August 3, 2020.

3. First 30-day HEERF Reporting for 9/30/2020:  $0.00 – the total amount disbursed under Section 18004(a) (1) of the CARES Act as of the date of submission. This data is valid through 9/30/20.

4.  Quarterly HEERF Reporting for 12/31/2020:  The total amount disbursed for the Institutional Portion under Section 18004(a) (1) of the CARES Act  as of December 31, 2020 is $880,995.  This is the final Quarterly HEERF Institutional Portion report for Babson College.

5.  The method(s) used by the institution to determine expenditures under Section 18004(a)(1) of the CARES Act.  As of 12/31/2020, Babson college has spent $880,995 of the CARES Act Institutional Funds on providing reimbursements for tuition, housing, room and board, or other fee refunds.