THE CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY (CARES) ACT
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). In regard to Loyola University Maryland's eligibility, the institution was allocated two separate grants under this federal program. One was to provide emergency grants to students for unexpected expenses and the second was to part assist in covering unexpected institutional costs 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 to be used for emergency relief funds for students and $1,306,230 for institutional use in responding to the COVID-19 crisis. Loyola signed and returned the required Certifications and Agreements to the Department of Education. Information on the specifics of how the funds have been disbursed is included in the reports that are linked below.
ALLOCATION AND DISBURSEMENT REPORTS
Loyola University Maryland is required to provide regular reporting to the U.S. Department of Education (ED) on the use of funds authorized by the CARES Act. Funds received by Loyola under the CARES Act were authorized by Congress and signed into law by the President on March 27, 2020.
Student Emergency Relief Grant Program
Reports on the rationale and process for the disbursement of the student emergency grant funds can be found here:
Institutional Relief Grant Program
The report on the allocation and disbursement of the institutional relief grand funds can be found here:
CARES ACT STUDENT EMERGENCY RELIEF GRANT INFORMATION
A student was eligible for CARES Act funding through Loyola if they:
- Were enrolled at Loyola on March 13, 2020 as a full-time or part-time undergraduate or graduate student;
- Experienced a financial hardship as a result of the disruption of education due to the coronavirus for expenses included but not limited to: food, housing, course materials, technology, health care, and child-care expenses;
- Are eligible for federal financial aid (this will be determined by either having been approved through the 2019-2020 or 2020-2021 FAFSA process or if you have not completed a FAFSA form, you will be asked to complete an attestation of eligibility of Title IV criteria as per recent rule making by the Department of Education. All information provided via FAFSA or the attestation form will be reviewed by financial aid to confirm eligibility of Title IV criteria; and
- Complete the Loyola certification form via Qualtrics.
Non-degree seeking students; students exclusively enrolled in online courses; and those who withdrew or took a leave of absence prior to March 13, 2020, are not eligible for CARES Act funding.
Any students who were unsure of their eligibility were encouraged to contact firstname.lastname@example.org. The information listed below provides some guidance and answers to frequently asked questions:
How do I complete the Cost Certification Form?
An email was sent out to students who may be eligible with a link to a certification form to be completed via Qualtrics. The deadline for completion of the certification form was Monday, June 22, 2020, at 8 p.m. We are no longer accepting applications for this program.
Students who complete the form are required to certify, attest, and affirm that they have incurred expenses related to the disruption of campus operations due to coronavirus, including food, housing, course materials, technology, health care, and/or child-care expenses; and that the information included on the form is true, accurate, and complete to the best of their knowledge, information, and belief.
Coronavirus Aid, Relief and Economic Security (CARES) Act emergency grants are subject to eligibility, overall applicant pool, and availability of funds, among other things, and there is no guarantee that an emergency grant will be available or, if so, available in any particular amount.
What is the CARES Act?
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. More information on the CARES Act is available here.
How much will I receive?
Loyola is committed to providing grants to all eligible students to the greatest extent possible with the CARES Act funds available. The actual amount each student will receive is based on the number of applications received and the funds available.
CARES Act emergency grants are subject to eligibility, overall applicant pool, and availability of funds, among other things. Submission of a certification form does not a guarantee that an emergency grant will be available or, if so, available in any particular amount.
When will my application be reviewed?
Any certification forms received by the deadline have been reviewed for eligibility. If additional information was needed or if an additional Title IV eligibility form was required, students were contacted by email with details on what information is needed to complete their certification form. Once the review process was complete, students then received an email confirming their status, and if they were confirmed as eligible, information on when to expect the disbursement and in what form.
How will I receive this money?
All emergency grants will be processed through student accounts. Emergency grants will be directly deposited into bank accounts for students who are enrolled in direct deposit. Students without direct deposit will receive a refund check in the mail.
Do I need to repay the money?
No. Students will not need to repay any money received through this fund.
Can I apply for funding more than once?
No. Students will only be considered once for eligibility.
Does this funding affect my other financial aid?
No. This is an emergency grant to help students manage unexpected expenses related to the coronavirus, and it will not have any impact on other financial aid a student may be eligible to receive.
What if I still have an account balance?
Any CARES Act funding awarded will be paid to the student directly, and it will not cover any outstanding balances owed to Loyola University Maryland. Any outstanding balance owed to Loyola will remain the responsibility of the student.
Are Emergency grants taxable?
For more information, please visit this IRS site - FAQs: Higher Education Emergency Relief Fund and Emergency Financial Aid Grants under the CARES Act.
I received an email stating that I was approved for a disbursement, however I have not yet received the check. What should I do?
Checks were mailed via the U.S. Postal Service. We understand that there have been some delays in the delivery of these checks. If a student received an email confirming their eligibility for an emergency grant and were to receive a disbursement in the form of a check, but have not yet received the check in the mail should contact email@example.com so that other arrangements can be made.
Who do I contact if I have additional questions? Please contact firstname.lastname@example.org.