CARES Act 45-Day Report – July 26, 2021
Award Number: P425E204965
The Coronavirus Aid, Relief and Economic Security (CARES) Act was passed on March 27, 2020, to address unmet financial and health needs arising from the COVID-19 pandemic. Among its provisions, the Higher Education Emergency Relief Fund (HEERF) awarded funds to institutions of higher education to address costs and financial needs arising from the disruption of campus operations due to coronavirus. Each institution must use no less than 50 percent of funds received under Sections 18004(a)(1) and 18004(c) of the CARES Act to provide direct, emergency financial aid grants to students.
Fairfax University of America (FXUA) completed and returned the Certification and Agreement Form for the CARES Act funding for student emergency grant relief on June 9, 2020. FXUA acknowledges and certifies that no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act will be used to provide emergency financial aid grants to students. FXUA submitted the CARES Act 30-Day Report July 26, 2021.
FXUA’s CARES Act allocation for student emergency financial aid grants totaled $189,667.00. An online application period opened on July 27, 2020. To date the following number of awards have been made:
|First CARES Act Application period||July 27 – Present|
|Number of Applications Received||5|
|Number of Awards as of Aug 3, 2021||5|
|Total Amount Disbursed to Date||$70,000|
|Estimated Number of Eligible Students||25|
|Total Number of Recorded Responses for these funds||13|
|Maximum Grant Award – Pell Eligible||$4,349.67|
|Maximum Grant Award – Non-Pell Eligible||$70,000|
For the CARES Act emergency grant fund, the university assessed eligibility for CARES Act emergency grant funding. Specifically:
- 2020-2021 FAFSA on file or eligible to complete a 2020-2021 FAFSA (students encouraged to complete a FAFSA)
- Degree seeking and enrolled in Fall 2021 classes
Methodology for Calculating Allocations to the eligible students
FXUA came up with a maximum amount of the award per eligible student by dividing the total amount of CARES funding received by the 25 FXUA eligible students.
FXUA has only one Pell eligible student, who is eligible for the max grant amount, which is $4,349.67. The rest of the students have EFC (Expected Family Contribution).
FXUA came up with the 5 – tiered type of the distribution methodology to the eligible students. University established the tiers based on Pell eligibility and EFC with the most eligible (needy) receiving $4,349.67. The other tiers were $4,200, $4,000, $3,800, and $3,600 for those students who were found eligible under the CARES Act guidelines.
Tier 1 – Pell $4,349.67
Tier 2 – EFC 0 to 579 $1,500
Tier 3 – EFC 580 to 679 $1,200
Tier 4 – EFC 680 to 15,000 $900
Tier 5 – EFC 15,000 + $600
Students filled out the provided Cares Act Funding Application form and in order to complete the application, they were required to list a dollar amount with supporting documentation for the categories for which they were seeking financial support. The application asked students to explain how the disruption of moving to online learning due to COVID-19 impacted their academic performance and created financial needs. Students were asked to request funding in different areas (housing, food insecurity, utilities, etc.) for which they were experiencing financial impacts caused by COVID-19.
FXUA recognizes that the disbursement of these funds is an important step in helping eligible students overcome the challenges posed by the pandemic and continue on their paths to academic and career success.[/vc_column_text][/vc_column][/vc_row]
CARES Act 45-Day Report – July 26, 2021
Award Number: P425F204089
FXUA also received notice on June 18th, 2020, that DOE has allocated under the HEERF institutional grant portion $189,667.00 to be used for Covid-19 related Institutional expenses. As of July 26, 2021, $69,872.52 has been used by the Institution.