Emergency Financial Aid Grants to Students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act
Section 18004(c) of the Cares Act requires Limestone University to use at least fifty percent of the funds received to provide emergency financial aid grants to students for expenses related to the disruption of campus operations due to COVID 19(including eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, health care, and child care).
Upon receipt of the Grant Award Notification (GANS) from the Department of Education, Limestone University will promptly make available emergency financial aid grants as funded by the Coronavirus Aid, Relief, and Economic Security (CARES) Act directly to students enrolled in the spring 2020 semester for their expenses related to the disruption of campus operations due to COVID 19, (including eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, health care, and child care) as required by Section 18004(c) of the CARES Act. Limestone University will not use the funds to reimburse itself for any costs or expenses, including but not limited to any costs associated with significant changes to the delivery of instruction due to the coronavirus and/or any refunds or other benefit previously issued to students.
Limestone University will receive $1,439,240 of which $675,252 will be used for Cares Act Student grants and the remainder to be used for institutional cost incurred as a result of the pandemic.
Please see the following “Quarterly Budget and Expenditure Reporting under Cares Act Sections 18004(a)(1) Institutional Portion, 18004(a)(2), and 18004(a)(3):
Consistent with Section 18004(c), Limestone University retains discretion to:
The CARES Act student emergency funding will be managed by the Vice President of Finance and Administration. In addition, the Director of Financial Aid and Director of Finance/Controller also contributed to calculations and administration of funds. As encouraged by the Secretary of Education in the Recipient’s Funding Certification and Agreement for CARES Act Funding, the use of professional judgment available under Section 479A of the Higher Education Act of 1965 (HEA), 20 U.S.C § 1087tt, to determine need and eligibility for receipt of CARES Act student emergency grants will be used.
The University will award student emergency grants on the basis of need (established by Pell and Title IV eligibility). The University will allocate emergency grant awards to students across multiple categories.
Day students for Spring 2020 that were enrolled as of March 30th, 2020 and evening students enrolled for term 2 (March 9 – May 1) were reviewed for Title IV eligibility. Students were removed for eligibility if: 1) they were an international or undocumented student 2) did not have a current verified FASFA on file with Limestone University or 3) had other eligibility issues.
Expected Family Contribution (EFC) was used in determining the EFC Categories. The first category is Full Pell, students with an EFC of $0. The second category was Partial Pell, EFC of $1 - $5,576. The third category includes students with EFCs over the Pell limit but not more than 50% of a full year tuition and fees. The fourth category includes students with EFCs of more than 50% of a full year tuition and fees but not more than 100% of a full year’s tuition and fees. The last category is any student that had an EFC of greater than a full year’s Tuition and Fees.
The calculation started with a set dollar amount for Full Pell Day students. Twenty-five percent of a full years Pell was used which when rounded came to $1,600. Next, each category was cut by fifty percent, i.e. Partial Pell received $800.
For Evening students, the calculation started with the Full Pell Dollar amount for the day students, which was divided by four classes (which is our full-time rate). That made the full Pell rate for evening $400. Next, each category was cut by fifty percent, i.e. Partial Pell received $200.
Instruction, Directions, and/or Guidance Provided to the Student
The Secretary does not consider these individual Emergency Financial Aid Grants to constitute Federal Financial Aid under Title IV of the Higher Education Act of 1965 (HEA). The emergency financial aid funds will not be used for any purpose other than the direct payments of grants to students for their expenses related to the disruption of campus operations due to coronavirus. Limestone University will promptly comply with Section 18004(e) of the CARES Act and (i) report to the Secretary thirty (30) days from the date the Certification and Agreement was signed and every forty-five (45) days thereafter in accordance with 2 CFR 200.333 through 2 CFR 200.337, or in such other additional form as the Secretary may specify.
Limestone University will report:
Limestone University will promptly and to the greatest extent practicable distribute all the funds in the form of emergency financial aid grants to students within 12 months from the date of the signed Certificate and Agreement. The Business and Finance Office will process the payments of the Emergency Financial Aid Grants to each eligible student in the same manner in which credit balances are processed for Title IV aid. At no time will any emergency grant be used by The University to offset existing student account balances, nor future student account charges. Funds will be disbursed directly to individual students, as directed by that student, in the form of a check or electronic transfer payment.