Fund Report – CARES Act Sections 18004(a)(1) Student Emergency Aid Portion
Gannon University has received federal funding through the CARES Act Higher Education Emergency Relief Fund which provides funding to distribute emergency financial aid grants to students whose lives have been disrupted by the pandemic.
- Gannon University signed and returned to the Department of Education the Certification and Agreement and the assurance that the institution has used, or intends to 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
- Gannon University received $1,342,340 in funds from the Department of Education to provide emergency financial aid grants to students.
- As of Monday, Aug. 7, 2020 the university had distributed $1,342,340 of Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
- The university estimated in April that 2,909 of our students were eligible to participate in Title IV programs.
- As of Aug. 7, 2020, the university awarded 2,737 students with emergency financial aid grants.
- The university awarded full-time undergraduate and graduate students with an expected family contribution (EFC) under 30,000 with emergency financial aid grants ranging between $300 - $900. Students enrolled part time or full time with EFC that exceeded 30,000 were able to request emergency financial aid grants via an application process.
Fund Report – CARES Act Sections 18004(a)(1) Institutional Portion
- The remainder of an institution’s funds may be used for costs associated with significant changes to the institution’s delivery of instruction due to the coronavirus.
- Quarterly Budget and Expenditure Reporting - CARES Act Institutional Portion
About Cares Act Funding
The CARES Act is intended to provide emergency funds to students for expenses related to the disruption of campus operations due to the coronavirus. Gannon University has reserved a portion of the CARES Act subsidies to be distributed to students who were not in the first round of funding consideration. Students who received an initial CARES Act distribution may apply for additional support from the reserve pool of funds. These applications will be considered after the university processes requests from students who have not received any CARES Act funding, to the degree in which CARES Act funding is still available.
To meet the Department of Education’s requirements the student must be a US citizen, have filed a 2019 FASFA form, was not enrolled exclusively in an online program, and the student must have a qualifying expense resulting the COVID-19 pandemic. According to guidance from the Department of Education an eligible expense may include food, housing, course materials, technology, healthcare, and childcare as long as the student experienced the expense as a direct result of the COVID-19 pandemic. Please note the Department of Education is not considering lost wages of the student or parent as a qualifying expense.