CARES ACT FUNDING DISCLOSURE- FALL SEMESTER 2021
As part of the Higher Education Relief Fund III & the American Rescue Plan (ARP) Act of 2021, the US Department of Education (ED) recently authorized additional emergency funding to colleges and universities across the United States. Ìð¹ÏÊÓƵ University signed and returned the certification and agreement form to the US Department of Education to receive funds from the CARES Act. Ìð¹ÏÊÓƵ University has been allocated $4,514,766 in funding and 50% of that funding was earmarked for immediate student distribution.
The funding was provided to offset any costs that students may have incurred during the global health pandemic. The formula ED used to determine the funds available for Ìð¹ÏÊÓƵ students was based on the number of Pell-eligible students enrolled and our total enrollment. The ARP Act and ED’s guidance required us to distribute funds to those most in need and use Pell-eligibility as one measure of that. Students were awarded ARP funds based on the following award structure:
Undergraduate Students
Enrollment Status | FAFSA Filed | Expected Family Contribution Range | Award Amount |
Full-time | Yes | $0 - $5,846 | $2,850 |
Full-time | Yes | $5,847 - $10,000 | $2,650 |
Full-time | Yes | $10,001 - $15,000 | $1,850 |
Full-time | Yes | $15,0001 - $20,000 | $1,550 |
Full-time | Yes | $20,001 - $36,000 | $1,250 |
Full-time | Yes | $36,001 - $999,999 | $1,000 |
Full-time | No | N/A | $655 |
Part-time | Yes | Variable | $515 |
Part-time | No | N/A | $325 |
Adult Learners
- Eligibility based on enrollment status and demonstrated financial need
- Variable Amount - $500 - $2,000
Graduate Students
- Eligibility based on program costs, enrollment status, and demonstrated financial need
- Variable Amount - $500 - $1,500
During our assessment of student eligibility, we determined that 1,305 currently enrolled Ìð¹ÏÊÓƵ students met the criteria set by ARP/ED. FAFSA data as of September 17, 2021 was used to determine demonstrated financial need, and in addition the following metrics were used to determine student eligibility:
- Students must have been enrolled for the current semester as of September 17, 2021
- Students must have been determined to meet all other ARP/US Department of Education funding requirements
Ìð¹ÏÊÓƵ disbursed $2,257,383 to 1,301 eligible students on September 20, 2021. The ARP funds were disbursed to students via the refund preference they had selected through BankMobile on their Ìð¹ÏÊÓƵ OneCard. Students were also able to elect to use the funds to pay current student billing account balances. Copies of the student authorizations to maintain funds on student accounts is held within the Office of Student Account. No funds were set aside for future use.