CARES Act Higher Education Emergency Relief Fund
The CARES Act Higher Education Emergency Relief Grant Fund provides emergency financial aid assistance to students for expenses related to the “disruption of campus operations due to coronavirus” as stipulated by the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act that was signed into law March 27, 2020. Awards will be distributed to eligible Alice Lloyd College students based on the 2019-2020 FAFSA with an emphasis on providing support to need-based students (i.e. Federal Pell Grant recipients) which was emphasized by the Secretary of Education.
1. Who is eligible for the CARES Act Higher Education Emergency Relief Grant?
Federal regulations require schools to confirm that a student receiving any CARES Act Higher Education Emergency Relief Grant funds meet all criteria for receiving Title IV aid. This includes, but is not limited to, the following requirements:
- The student is a US Citizen or an eligible noncitizen
- Has a valid Social Security number
- Is registered with Selective Service, if you’re a male (you must register between the ages of 18 and 25)
- Is not in default on a federal student loan
- Does not owe money on a federal student grant
- Is maintaining Satisfactory Academic Progress toward a degree
- Is a currently enrolled student
2. How is the eligibility for the CARES Act Higher Education Emergency Relief Grant determined?
Students must have had a 2019-2020 FAFSA on file in order to be considered for an emergency grant. The eligibility criteria for the CARES Act Higher Education Emergency Relief Grant was calculated based on the student’s financial need and enrollment status as of May 1, 2020.
3. How much will eligible students receive through the CARES Act Higher Education Emergency Relief Grant?
The CARES Act Emergency Relief Grant is one-time funding divided between eligible students. Awards will be distributed to eligible students based on need as determined by the 2019-20 FAFSA with an emphasis on providing additional support to the neediest populations (i.e. Federal Pell Grant recipients). Funding will be distributed to eligible students based on the following:
- Pell Grant recipients: $1,100
- Non-Pell Grant recipients: $300
4. When and how will eligible students receive the CARES Act Higher Education Emergency Relief Grant funds?
Alice Lloyd College applied for funding from the federal CARES Act and once we receive that funding from the U.S. Department of Education, we will be able to rapidly start distributing grants to students based on eligibility. The distribution of funds to eligible students will begin as soon as possible following receipt of the funds from the Department of Education. The funds will be distributed from the College and directly mailed to the student in the form of a paper check.
5. Why didn’t I receive a CARES Act disbursement?
ALC students who are eligible for federal financial aid programs are eligible for federal CARES Act grants. If you are eligible for federal aid but did not receive a CARES Act Emergency Relief Grant, you can notify the Financial Aid Office for an eligibility review.
6. Will there be CARES funds for 2020-21?
Right now, we are concentrating on disbursing the current emergency aid allowance and monitoring federal and state economic conditions, as well as the prospects for additional federal emergency funding for colleges, universities, and students. We will decide later this summer about remaining CARES funds we can use to support students in 2020-21. We will update these FAQ as we make later decisions on the use of these funds.
7. Are CARES Act Higher Education Emergency Relief Grant funds taxable?
Funds available for students through the CARES Act Higher Education Emergency Relief Grant funds do not have to be included as taxable income. However, at this time these funds must be reported on the 1098-T that you will receive from Alice Lloyd College for the 2020 tax filing year.