Presbyterian College CARES Act Grant
In April, the federal government announced a plan to provide funding to colleges to assist students impacted by the COVID-19 pandemic. Presbyterian College signed and returned to the U.S. Department of Education the Recipient’s Certification and Agreement with the assurance that it will use no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
Presbyterian College received a total of $1,038,216 from the Department of Education, with $519,108 directly impacting students, pursuant to our Certification and Agreement for Emergency Financial Aid Grants to Students.
Per the federal guidelines, all colleges and universities that receive CARES Act funding must use at least half of the funds to assist students with unexpected costs associated with the transition from on-campus to remote learning. As of June 3, 2020, PC has distributed $514,650 of the total amount of Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
1,176 PC students are eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act. 567 students have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.
PC’s awarding of the CARES Act Grant prioritizes students based on financial need as determined by the 2019-2020 FAFSA. Based on this prioritization, PC created two groups.
The first group of students included those who demonstrated the greatest need, and automatically received a CARES Act grant. The following criteria were used to determine which students were eligible to receive the CARES Act grants and how much they were eligible to receive under Section 18004(a)(1) of the CARES Act:
- Students were eligible for Title IV funding (as determined by your 2019-2020 FAFSA) at the time of the academic disruption.
- Students lived in on-campus housing during the spring 2020 semester.
- Students completed the spring 2020 semester.
- Students attempted 12 or more credit hours during the spring 2020 semester.
- Each student’s expected family contribution (EFC) was 9,999 or less as determined by the 2019-2020 FAFSA.
The parameters above generated a group of 364 students who were automatically awarded a CARES Act grant, totaling $418,600. Disbursements were made to these students on May 25, 2020.
On May 21, recipients were notified by email explaining why they were selected to receive a CARES Act grant to assist in covering unexpected expenses related to the transition from on-campus to remote learning.
On May 26, grants were provided to students through direct deposit or a mailed check to their home.
The second group of students included those who did not meet the initial eligibility requirements for the automatic grant. Students in this group were encouraged to submit an emergency fund application. Students who completed the emergency fund application by the priority date of May 31, 2020, were evaluated for CARES Act grants based on the following information:
- Eligibility for Title IV Funding (as determined by the 2019-2020 FAFSA) at the time of the academic disruption
- 2019-2020 Expected Family Contribution (EFC), as determined by the FAFSA
- Total scholarships and grants received in 2019-2020
- Enrollment status at the end of the Spring 2020 semester
- Current enrollment status
- The extent that the student has been impacted by COVID-19
PC received 223 applications for the emergency fund by the priority deadline. Of the applications received, 203 were eligible and received grants ranging between $250 and $750. A total of $96,300 was disbursed on June 3, 2020 for these students.
On May 21, students were notified by email regarding the COVID-19 Student Emergency Fund Application process, including eligibility requirements and priority deadlines.
On May 29, students received a reminder about the priority deadline for the Student Emergency Fund Application.
On June 2, grants were provided to students through direct deposit or a mailed check to their home.
A group of 26 eligible students submitted an Emergency Fund Application after the May 31, 2020 priority deadline and received a CARES Act grant in the amount of $250. These grants included the remaining $4,208 from the Department of Education and PC covered the additional $2,292 to fund the grants.
On June 26, grants were provided to students through direct deposit or a mailed check to their home.
Quarterly Budget and Expenditure Reporting under CARES Act Sections 18004(a)(1) Institutional Portion, 18004(a)(2), and 18004(a)(3) (PDF Report as of 10.30.2020)