CARES Act 30-Day Report
Ohio Wesleyan Posts Details on First Round of Grants
By Ohio Wesleyan University
The CARES Act Higher Education Emergency Relief Fund provides funding to institutions for emergency financial aid grants to students whose lives have been disrupted by the coronavirus pandemic. Here is Ohio Wesleyan University’s report on the first round of grants in May 2020.
With regard to CARES Act Section 18004(a)(1), Ohio Wesleyan University acknowledges and assures that:
- A signed Certification and Agreement was returned to the U.S. Department of Education.
- At least $801,253 will be provided as Emergency Financial Aid Grants to students, which is no less than 50 percent of the funds received.
- $363,560.61 in Emergency Financial Aid Grants has been provided to students as of May 5, 2020.
- The estimated total number of OWU students eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965, and thus eligible to received Emergency Financial Aid grants to students is 1,111, as of May 1, 2020.
- As of May 5, 2020, the total number of students who thus far have received an Emergency Financial Aid Grant is 1,111.
- OWU formed a task force, chaired by Dwayne Todd, Ph.D., vice president for Student Engagement and Success, to determine which students were to receive Emergency Financial Aid Grants and the amount of such grants. Task force members determined that the three purposes for the initial round of Emergency Financial Aid Grants were:
- General grants to all eligible students for related expenses.
- Payment for lost wages to eligible students whose campus employment was disrupted by closure. An average weekly earnings rate for each student prior to closure was calculated, that amount was then multiplied by 7 for the number of weeks remaining in the semester.
- Reimbursement to students who were participating in a study-away program whose housing was disrupted by program closure.
- OWU provided the following guidance via email to students, and then to parents, concerning the Emergency Financial Aid Grants prior to the first disbursement of funds:
- The purpose of the money
- Why they are receiving it
- When they should likely receive it
- How they’ll receive it (electronic funds transfer or paper check mailed to their permanent address on record)
- Expectation that the money is used for purposes awarded
- How to apply for next rounds as necessary (link to online application form and deadline)
- Whom to contact with questions
Be advised that it is yet undetermined if these funds are taxable