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Marianas Variety: NMC students receive over $200K in CARES Act funds (April 30, 2020)

NORTHERN Marianas College has released approximately $200,000 in federal financial aid to about 300 students through direct deposits or mailed checks.

The NMC finance office is working to release the next batch of funds this week.

The funds are specifically allocated by the Coronavirus Aid, Relief, and Economic Security or CARES Act to help students whose financial condition was affected by the Covid-19 pandemic.

The CARES Act requires that half of the funds allocated to NMC, or $920,000, must be reserved for students whose lives and education have been disrupted by the coronavirus outbreak.

The U.S. Department of Education has allotted approximately $1.8 million to NMC.

“We are glad that our students are able to get the financial assistance they need during these unprecedented times,” said NMC Interim President Frankie Eliptico. “Our finance team is working hard to make sure the second batch of grants gets sent out this week,” he added.

Students who were registered in NMC’s Spring 2020 semester are eligible for the CARES cash grant.

NMC was also told that the funds should only be distributed to students who have demonstrated eligibility to file a Free Application for Student Aid or FAFSA form.

The FAFSA is a free form from the U.S. Department of Education that prospective and current college students fill out in order to determine eligibility for federal financial aid, such as Pell grants.

The approximate amounts are $700 for each eligible full-time student and $350 for each eligible part-time student. Full-time students have 12 or more credits while part time students are with 11 credits and below.

NMC said it has about 1,200 students who are provided additional and updated information regarding the status of the funds.

Eliptico said the college has two hotline numbers for students who have any additional questions: 285-7651 and 285-2059.

Students are also asked to frequently check their student emails.

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