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 Student Aid Grants. Oglethorpe estimates 1,127 students are eligible to receive Student Aid Grants. The University is finalizing plans for distribution and has not distributed any of the funds as of May 20, 2020. We anticipate that over 1,000 students will receive some amount of grant funding, including: displaced university residents, full-time non-resident students, Adult Degree Program students, and students with specific emergency needs on an application basis.