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CARES Act Funding Disclosure

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 StatusFAFSA FiledExpected Family Contribution RangeAward Amount
Full-timeYes$0 - $5,846$2,850
Full-timeYes$5,847 - $10,000$2,650
Full-timeYes$10,001 - $15,000$1,850
Full-timeYes$15,0001 - $20,000$1,550
Full-timeYes$20,001 - $36,000$1,250
Full-timeYes$36,001 - $999,999$1,000
Full-timeNoN/A$655
Part-timeYesVariable$515
Part-timeNoN/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.

As part of the CARES Act, 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 $1,728,770 in funding and 50% of that funding was earmarked for immediate student distribution.

This funding, based on federal guidelines, was provided to students who are eligible for Title IV federal financial aid as defined by the FAFSA. 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 CARES Act and ED’s guidance ask us to distribute funds to those most in need and use Pell-eligibility as one measure of that. Students were awarded CARES Act funds based on the following award structure:

Undergraduate students

Full-time, Pell-eligible: $1,050
Full-time, not Pell-eligible: $595
Part-time, Pell-eligible: $400
Part-time, not Pell-eligible: $250

Graduate students

Eligible based on program: $250

During our assessment of student eligibility, we determined that 1,175 currently enrolled Ìð¹ÏÊÓƵ students met the criteria set by ED. The following metrics were used to determine student eligibility:

Students must have:

  • filed a FAFSA before February 5, 2021,
  • been enrolled for the current semester as of February 5, 2021, and
  • been determined to have Federal Title IV aid eligibility.

Ìð¹ÏÊÓƵ disbursed $864,385 to the 1,175 eligible students on February 5, 2021. The CARES Act funds were disbursed to students via the refund preference they had selected through BankMobile on their Ìð¹ÏÊÓƵ OneCard. No funds were set aside for future use.

CARES Act Funds – Institutional Portion Report & Information

As part of the CARES Act, the US Department of Education (ED) recently authorized more than $7 billion of 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 $1,728,770 in funding and 50% of that funding was earmarked for immediate student distribution.

This funding, based on federal guidelines, was provided to students who are eligible for Title IV federal financial aid as defined by the FAFSA. The funding was provided to offset any costs that students may have incurred in the new learning environment. 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 CARES Act and ED’s guidance ask us to distribute funds to those most in need and use Pell-eligibility as one measure of that. Students were awarded CARES Act funds based on the following award structure:

Undergraduate students

Full-time, Pell-eligible - $1,009
Full-time, not Pell-eligible - $504
Part-time, Pell-eligible - $335
Part-time, not Pell-eligible - $167

Graduate students

Eligible based on program - $150

During our assessment of student eligibility, we determined that 1,296 currently enrolled Ìð¹ÏÊÓƵ students met the criteria set by ED. The following metrics were used to determine student eligibility:

Students must have:

  • filed a FAFSA before March 16, 2020,
  • been enrolled for the current semester as of April 27, 2020, and
  • been determined to have Federal Title IV aid eligibility.  

Ìð¹ÏÊÓƵ disbursed $864,385 to the 1,296 eligible students on April 27, 2020. The CARES Act funds were disbursed to students via the refund preference they had selected through BankMobile on their Ìð¹ÏÊÓƵ OneCard. No funds were set aside for future use.

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