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Home > Cares Act

CARES ACT FUNDING

Neumann University has been approved to disseminate federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funding, which is intended to ease any financial burden incurred as a result of the coronavirus pandemic. The funds will be sent to every eligible student. We also have reserved a limited amount of funds to be distributed to those students who meet the eligibility criteria and who demonstrate additional hardship and/or exceptional circumstances.

The following information is provided by Neumann University as required by the Department of Education (“ED”) in order to comply with the reporting requirements under the CARES Act. This is our first 30-day progress report and presents information as of June 26, 2020. Additional reports will be provided every 45 days.

  • Neumann University has signed and returned the CARES Act Funding Certification and Agreement which is required before funds are available. The University’s allocation to distribute to students is $879,059.00, which represents 50 percent of the stimulus allocation of $1,758,118. The University was awarded the first 50% of the funds on May 26, 2020.
  • It is estimated that during the Spring 2020 term 1,365 Undergraduate and Graduate students at Neumann University were eligible to participate in Title IV programs and therefore were eligible to receive an emergency financial aid grant.
  • Grant recipients were notified in advance if they were eligible. Funds will be disbursed directly to students by direct deposit to their bank accounts, or delivery of a check to their address on file in the Office of Financial Assistance.
  • On January 19, 2021, The University was awarded HEERF II funding. The allocation to distribute to students was $879,059.00 and the University allocation portion was $2,135,951.
  • All the $879,059.00 funds have been distributed to students as of May 26, 2021, in two installments on April 21 and May 26, 2021. The breakdown from HEERF II can be found here.
  • Also on March 5, 2021, The University was awarded $127,747 Title VIII Coronavirus AID, Relief, and Economics Security Act Funds we will used for returning students. Of these funds, $7,000 was awarded to 8 students by June 30th. The remaining balance will be used going forward in the FY 21-22.

Cares Act Funding FAQs
What is the ARP?

The American Rescue Plan (ARP) is the third major piece of legislation passed by Congress to respond to COVID-19. Included in the legislation are additional funds for the Higher Education Emergency Relief Fund (HEERF), which allocates funds to institutions based on the number of students who are Pell Grant recipients and the institution’s total student enrollment. Of each institution’s HEERF allocation funded by the ARP, a minimum amount (equal to roughly half the total allocation) must be distributed directly to students in the form of emergency student financial aid grants.

How much is Neumann University required to distribute to students in emergency financial aid grants from its ARP allocation?

$2,741,241

What is the CARES/Higher Education Emergency Relief Fund provided by the federal government?

The Coronavirus Aid, Relief and Economic Security (CARES) Act was passed by Congress and signed into law to provide economic relief from COVID-19. One section of the CARES Act established the Higher Education Emergency Relief fund and sent money to schools to use for emergency financial aid grants to students for expenses related to the disruption of campus operations due to the pandemic.

Who is eligible for the CARES/Higher Education Emergency Relief Funds?

Students who meet basic eligibility criteria for federal financial aid can be considered for these funds. The Office of Student Financial Assistance will use Free Application for Federal Student Aid (FAFSA) data to determine your eligibility. If you are eligible to file a FAFSA but have not yet filed for 2019-20 and need assistance, please file a FAFSA at studentaid.gov. by June 1st to be considered for funding.

Under U.S. Department of Education rules for the program, these funds can be awarded to undergraduate, graduate, and professional students pursuing degree programs and currently enrolled at Neumann University. In order to receive these limited funds, students must:

  • have been enrolled for the spring semester as of April 20, 2020;
  • have completed a FAFSA
  • have been enrolled in at least one face-to-face class as of March 13; and
  • be eligible for Title IV financial aid as stated above.

 

What methodology was used to determine how much students would receive under Section 18004(a)(1) of the CARES Act?

Neumann University used the following methodology to determine how much students would receive under Section 18004(a)(1) of the CARES Act.

  • Less than 15,000 EFC/Residential: 411 students x $500 = $205,500
  • More than 15,000 EFC/Residential: 193 students x $400 = $77,200
  • Less than 15,000 EFC/Non Residential/Grad: 547 students x $250 = $136,750
  • More than 15,000 EFC/Non Residential/Grad: 214 students x $200 = $42,800

Additional emergency funds will be distributed later through an application process.

Who do I contact if I have questions about the grant?

Please contact the office of financial assistance at finaid@neumann.edu. Please make sure you provide your full name and student ID number in your correspondence.

Will there be additional CARES funds available for 2021-22?

Yes

What is the HEERF II funding methodology?

HEERF II funding methodology:

  • Pell Residential: 198 students x $700=$138,600.00
  • Pell Non-Residential: 493 students x $650= $320,450.00
  • Less than $15,000 EFC residential: 180 students x $550.00= 99,000.00
  • Less than $15,000 EFC Non-Residential: 191 x $450.00= $ 85,950.00
  • Graduate: 220 x $400.00= $88,000.00

$148,009.00 was saved for additional appeals through an application process. Application was sent to all 1,282 students eligible, and priority given to those who applied and received Pell. Ranges were from $500- $1,000.   88 students were given $1,000. 131 students were given $500. All students were Pell eligible.

What is the HEERF III funding methodology?

HEERF III funding methodology:

  • Pell: 640 students x $2000 = $1,280,000.00
  • Non-Pell: 657 students x $1,500.00 = $985,500.00
  • Graduate: 185 x $1,000.00= $185,000.00
  • Appeals: $486,878.00

View Neumann's quarterly report for the quarter that ended September 30, 2020 for the institutional portion of its CARES Act allocation.

View Neumann's quarterly report for the quarter that ended December 31, 2020 for the institutional portion of its CARES Act allocation.

View Neumann's quarterly report for the quarter that ended March 31, 2021 for the institutional portion of its CARES Act allocation.

View Neumann's quarterly report for the quarter that ended June 30, 2021 for the institutional portion of its CARES Act allocation.

View Neumann's quarterly report for the quarter that ended September 30, 2021 for the institutional portion of its CARES Act allocation.

View Neumann's quarterly report for the quarter that ended December 31, 2021 for the institutional portion of its CARES Act allocation.

View Neumann's quarterly report for the quarter that ended March 31, 2022 for the institutional portion of its CARES Act allocation.

View Neumann's quarterly report for the quarter that ended June 30, 2022 for the institutional portion of its CARES Act allocation.