CARES Act Higher Education Emergency Relief Fund (HEERF) Emergency Financial Aid Grants to Students
December 31, 2020
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 quarterly.
- FUNDING CERTIFICATION AND AGREEMENT
Hampden-Sydney College signed the CARES Act Funding Certification and Agreement on April 15, 2020, and returned it to the Department of Education on April 16, 2020. 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.
- FUNDS RECEIVED
Hampden-Sydney College received $339,954 from the Department of Education pursuant to the College’s Certification and Agreement for the emergency financial aid grants to students.
- FUNDS DISTRIBUTED
As of December 31, 2020, Hampden-Sydney College distributed $335,749 in emergency financial aid grants to students under Section 18004(a)(1) of the CARES Act. These grants were provided to students who were enrolled in Spring 2020.
- STUDENT ELIGIBILITY
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 669.
- NUMBER OF STUDENTS RECEIVING FUNDS
The total number of students who have received an emergency financial aid grant under Section 18004(a)(1) of the CARES Act is 574.
- METHOD USED TO DETERMINE ELIGIBILITY
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.
- For FAFSA filers with demonstrated financial need enrolled in May Term 2020, the grant amounts were: $200 for those enrolled in one regular class; $250 for those enrolled in more than one regular class; $250 for those enrolled in a 10-week class; and $400 for those enrolled in more than one 10-week class.
- For FAFSA filers who had student employment income for hours worked in March 2020, any earnings of at least $50 were matched but capped at $250.
- GUIDANCE PROVIDED TO STUDENTS
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.
CARES Act Grants to Students - Previous Reports
CARES Act HEERF Institutional Funds (Final Report)
Period ending 9/30/2020