CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY (CARES) ACT
As a part of the CARES Act passed by Congress, colleges and universities across the country were allocated funds to offset the disruptions to institutions and their students resulting from the coronavirus. To receive these funds, Oglethorpe signed and returned the Department of Education Certification Agreement. Oglethorpe intends to use all funds in compliance with Higher Education Emergency Relief Fund Section 18004(a)(1) of the CARES Act, including awarding 50% of the funds in emergency financial aid grants directly to students.
The Department of Education advanced Oglethorpe a total of $1,279,508 in funds, including $639,754 in funds for Emergency Financial Aid Grants. Oglethorpe estimates 1,127 students are eligible to receive Emergency Financial Aid Grants. The total sum of $639,754 has been spread across 1,066 students. Distributions were made via physical check, sent to each student’s mailing address on file. Considering the interruption of university services provided during the spring, the first set of distribution amounts varied across displaced university residents ($625), full-time non-resident students ($400), and full-time Adult Degree Program students ($250). This first round of distributions produced $557,450 to 1,064 students.
Students were also invited to apply for CARES Act distributions who communicated specific, emergency needs brought on by the disruption of campus operations due to coronavirus. Students who had such needs were encouraged to apply for additional assistance using this form. Another $82,304 was distributed to 204 students submitting the form for additional assistance.
Questions regarding CARES Act funding can be submitted online here.