Presbyterian College ARP: HEERF 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 March 31, 2022, Presbyterian College distributed $737,878 in Emergency Financial Aid Grants to Students under the ARP(a)(1) program.
1,723 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 March 31, 2022, 636 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 $5,000 were automatically awarded an Emergency Financial Aid Grant of $1,500 each. All students with an EFC of $5,000 to $14,999 were automatically awarded an Emergency Financial Aid Grant of $1,225 each. All students with an EFC of $15,000 to $19,999 were automatically awarded an Emergency Financial Aid Grant of $1,025 each. One student was identified as a Deferred Action for Childhood Arrivals (DACA) student, and this student was automatically awarded a grant of $1,528. All other students were invited to apply for Emergency Financial Aid Grants. These grants ranged from $500-750 and were awarded based on circumstances described by students in their applications.
Disbursements were made to these students in two batches. The first batch was paid on February 18, 2022, and the second batch was paid on March 25, 2022. The grants were paid either by direct deposit or by paper check.
An email was sent to the first batch of students on February 6, 2022, notifying them that they had either been automatically awarded an Emergency Financial Aid Grant or that their application had been processed. Another email was sent to the students on February 18, 2022, notifying them that a direct deposit had been made to their bank account or that a check had been sent to their student mailbox.
An email was sent to the second batch of students on March 22, 2022, notifying them that their applications had been processed. Another email was sent to the students on March 25, 2022, notifying them that a direct deposit had been made to their bank account or that a check had been sent to their student mailbox.
Quarterly Budget and Expenditure Reporting under CRRSAA:HEERD Act Grant III Sections 314(a)(1) Institutional Portion
(PDF Report as of 4.7.22)