Presbyterian College CRRSAA: HEERF Act Grant III
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARP). The ARP appropriated funding for the Higher Education Emergency Relief Fund (HEERF) and represents the third stream of funding appropriated for HEERF to prevent, prepare for, and respond to coronavirus. Presbyterian College signed and returned to the US Department of Education the Certification and Agreement with the assurance that the college will use at least half of the institution’s allocation under ARP(a)(1) to make Emergency Financial Aid Grants to Students.
Presbyterian College previously received $1,038,216 under the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was passed by Congress on March 27th, 2020 (HEERF I). Of this amount, $519,108 was used to make Emergency Financial Aid Grants to Students. The College also received $1,506,419 under the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 (CRRSAA) that was signed into law on Dec. 27, 2020 (HEERF II). Of this amount, $519,108 was used to make Emergency Financial Aid Grants to Students.
Presbyterian College was appropriated a total of $2,667,255 from the US Department of Education under the ARP(a)(1) program (HEERF III). Pursuant to the institution’s Certification and Agreement, at least $1,333,628 of these funds will be used for Emergency Financial Aid Grants to Students.
During the quarter ended December 31, 2021, Presbyterian College distributed $589,000 in Emergency Financial Aid Grants to Students under the ARP(a)(1) program.
1,677 individuals are or were enrolled at Presbyterian College on or after March 13, 2020, and are therefore eligible to receive Emergency Financial Aid Grants to Students under the ARP(a)(1) program.
During the quarter ended December 31, 2021, 480 students received an Emergency Financial Aid Grant under the ARP(a)(1) program.
Presbyterian College is committed to prioritizing students with exceptional needs to receive Emergency Financial Aid Grants. The college determined that students demonstrating the greatest financial need were those with an Expected Family Contribution (EFC) of less than $20,000 based on the student’s 2021-2022 Free Application for Federal Student Aid (FAFSA). All students with an EFC of less than $10,000 were automatically awarded an Emergency Financial Aid Grant of $1,500 each. All students with an EFC of $10,000 to $19,999 were automatically awarded an Emergency Financial Aid Grant of $500 each. Disbursements were made to these students on December 15, 2021, either by direct deposit, by paper check or by applying a credit to the student’s account balance at the student’s request.
An email was sent to these students on December 2, 2021, notifying them that they had been automatically awarded an Emergency Financial Aid Grant. Another email was sent to the students on December 15, 2021, notifying them that a direct deposit had been made to their bank account, that a check had been mailed to their address on file, or that a credit had been posted to their student account as requested by the student.
Quarterly Budget and Expenditure Reporting under CRRSAA:HEERD Act Grant III Sections 314(a)(1) Institutional Portion
(PDF Report as of 1.10.22)