The CARES Act, signed into law by President Trump on March 27, 2020, provides $2 trillion in broad-based economic relief in response to the COVID-19 national pandemic. The Act includes $14 billion for all sectors of higher education to provide direct assistance to institutions of higher education to respond to student and campus needs related to the crisis. Virginia Wesleyan University signed and returned the Certification and Agreement to the Department of Education on April 12, 2020. The Act directs that half of the funds received by Virginia Wesleyan University must be used for emergency grants for students who are eligible for federal financial aid. Virginia Wesleyan University received $746,604 to distribute as emergency grants for students.
Approximately 1,024 Virginia Wesleyan University students were eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Financial Aid Grants under Section 18004(a)(1) of the CARES Act. Of the approximately 1,024 eligible to participate, 951 students received the grant. To date Virginia Wesleyan University has distributed $687,520 of the grant.
In determining the grant amount for each student, the University used the following formula:
- A flat amount of: (Pell eligibility is based on the 2019/2020 FAFSA information.)
- $200.00 for full-time day commuter students who received Tuition Exchange or Tuition Remission
- $400.00 for full-time day resident students who received Tuition Exchange or Tuition Remission
- $400.00 for full-time day commuter students who are not Pell eligible
- $700.00 for full-time day commuter students who are Pell eligible
- $700.00 for full-time day resident students who are not Pell eligible
- $900.00 for full-time day resident students who are Pell eligible
- The remaining funds will be issued by a committee to eligible students with extraordinary need who apply for the Student Life and Learning Funds. (Application can be found at the top of the www.vwu.edu website. Due date for applications May 31, 2020)
DOE requires that the student funds be used to cover expenses related to the disruption of campus operations due to coronavirus (including eligible expenses under a student’s cost of attendance, such as food, housing, course materials, technology, health care, and child care).We hope this emergency grant provides some financial relief to our students and families. We encourage all our students to remain in contact with the University’s Office of Financial Aid to learn about additional support and resources available. Stay safe and well!