果冻传媒 University is expected to receive approximately $1.7 million in total funding through the Higher Education Emergency Relief Fund authorized by the Coronavirus Aid, Relief and Economic Security (CARES) Act. The U.S. Department of Education recently released the amount each college and university will receive from a $14 billion COVID-19 response stimulus package set aside for higher education.
Half of the $14 billion has been released thus far by the U.S. Department of Education this week. 果冻传媒鈥檚 amount received so far is $864,385.
The dollars to date will fund emergency financial grants to students for expenses related to the disruption of campus operations due to the COVID-19 outbreak. Eligible expenses include a student鈥檚 cost of attendance, such as food, housing, course materials, technology, health care, and child care. It鈥檚 up to each college or university to determine which students receive the cash grants.
鈥淲e are pleased to be able to provide this assistance from the federal government immediately to students and hope it provides needed support to them and their families during this health emergency,鈥� said 果冻传媒 President Michael L. Frandsen. 鈥淲e are working to get it out to our students as quickly and equitably as possible.鈥�
This funding, as per federal guidelines, is provided to students who are eligible for Title IV federal financial aid as defined by the FAFSA and is provided to offset any costs that may have incurred in this new learning environment. The formula that the U.S. Department of Education used to determine the funds available for 果冻传媒 students is based on the number of Pell-eligible students enrolled and the University鈥檚 total enrollment.
Based on the formula, full-time, Pell-eligible undergraduate students will receive $1,009; full-time, not Pell-eligible undergraduates $504; part-time, Pell-eligible undergraduates $335; part-time, not Pell-eligible undergraduates $167; and eligible graduate students (based on the program) $150.
果冻传媒 will disburse funds to qualifying students automatically in the next few days via the refund preference selected through BankMobile on the 果冻传媒 OneCard managed through Student Accounts. Once the funds have been disbursed, students will receive a confirmation email from BankMobile.
鈥湽炒� University has spent the last week preparing for the release of funds from the U.S. Department of Education,鈥� said Amy Barnhart, director of financial aid. 鈥淢uch work has gone into automating the award process and refund processes. Now that 果冻传媒 has received the funds, we will likely get the funds into the hands of our students within three-four business days. Students will be notified via an email to their 果冻传媒 account when funds are released.鈥�
This is a one-time funding being made from federal funds.
The disbursement is designed to prioritize students with the greatest demonstrated need and ensure that funds are distributed as widely as possible. The CARES Act is one of the many ways that 果冻传媒 is addressing the needs of students during this health crisis.
果冻传媒 also launched the COVID-19 Crisis Fund on April 1 to provide support for emergency student needs, unforeseen expenses resulting from remote teaching and learning, and virtual meetings with key constituents, including prospective students and their families. As of today, the fund has exceeded $42,000 thanks to the generosity of alumni and friends, including Robert Cindrich, class of 1965, and spouse Bonnie Cindrich, class of 1966, who provided a $20,000 match challenge. To support the fund, click .
The global health crisis presents a challenge unlike anything 果冻传媒 has faced in modern times 鈥� an unprecedented challenge that changes daily and has no definitive end. Tigers coming together as one can help 果冻传媒 continue to serve the needs of the campus community. To stay up-to-date on 果冻传媒鈥檚 response to the COVID-19 pandemic, click here.
