Hampden-Sydney College received $339,954 from the Higher Education Emergency Relief Fund, established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, to be distributed as emergency financial aid grants to eligible students. The grant funds are intended to cover the students’ expenses related to the disruption of campus operations due to COVID-19. These expenses may include food, housing, course materials, technology, health care, and child-care expenses. As an institution receiving the CARES Act funds, Hampden-Sydney College is required to post certain information on its website. The required information is listed below, and will be updated every 45 days.
- Hampden-Sydney College has signed and returned the CARES Act Funding Certification and Agreement to the Department of Education. The College intends to use $339,954, or no less than 50% of the funds received under Section 18004(a)(1) of the CARES Act, to provide emergency financial aid grants to students.
- The amount of funds that Hampden-Sydney College has received from the Department of Education pursuant to the College’s Certification and Agreement for the emergency financial aid grants to students is $339,954.
- The total amount of emergency financial aid grants allocated for distribution to students under Section 18004(a)(1) of the CARES Act as of May 27, 2020 (30 days after the College received its allocation) is $313,400. This amount was distributed on June 2, 2020.
- The estimated total number of students at Hampden-Sydney College eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act is 637.
- The total number of students who have received an emergency financial aid grant under Section 18004(a)(1) of the CARES Act is 553.
- The College determined which students receive the emergency financial aid grants and how much they would receive under Section 18004(a)(1) of the CARES Act in the following manner:
- Pell Grant eligible students are receiving $900.
- FAFSA filers with Expected Family Contribution (EFC) above Pell but less than $20,000 are receiving $650.
- FAFSA filers with EFC of $20,000-$40,000 are receiving $400.
- FAFSA filers with EFC above $40,000 and who demonstrate financial need are receiving $200.
- Accompanying the grant checks to students was a letter stating its source (CARES Act Higher Education Emergency Relief Fund), what is covered by the emergency grant (expenses related to the disruption of campus operations due to the COVID-19 pandemic), advice that the grant is not taxable, and a link to the Department of Education’s answers to FAQs from students.
Reported 5/27/2020; Updated 6/4/2020