The Coronavirus Aid, Relief and Economic Security (CARES) Act is federal legislation that provides financial support to individuals and organizations affected by the COVID-19 pandemic, including the Higher Education Emergency Relief Fund (HEERF). One part of this federal program provides emergency grants to students for unexpected expenses related to the disruption of campus operations due to the COVID-19 pandemic.
Under the CARES Act, Congress calculated amounts for the HEERF for each institution of higher education. Loyola was awarded a total of $1,306,230 for emergency relief funds for students. Loyola signed and returned the required Certification and Agreement to the Department of Education and it is the intention of the University to disburse these funds to students as one-time emergency grants for eligible students who have unexpected expenses related to the disruption of campus operations due to the COVID-19 pandemic.
Loyola is finalizing the process by which the funds will be disbursed including the application of Department of Education guidance on determining which students are eligible to receive emergency grants under Section 18004(a)(1) of the CARES Act. The method used to determine which students will receive emergency grants, the amounts that those students will receive and specific instructions on how to obtain those funds will be communicated in the coming weeks.