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Coronovirus Aid, Relief and Economic Security Act (CARES Act) Funding

Coronovirus Aid, Relief and Economic Security Act (CARES Act) Funding 

Monmouth College has signed and returned to the Department of Education, the Certification and Agreement Form required and has received $1,069,404 in federal CARES Act funding.  No less than 50% of this funding ($534,702) must be used to provide emergency grants directly to students in recognition of the additional expense they will incur as a result of COVID-19, the disruption of the Spring 2020 term and their relocation home. The remaining 50% of the CARES funding may be used by the institution to offset additional expenses incurred directly by the institution as a result of the COVID-19 pandemic. 

As of this date (May 6, 2020), $859,140 has been distributed directly to over 720  students from the CARES funding. 

Monmouth College did not elect to utilize a lengthy application nor review process. Rather, we utilized the current financial aid records and need analysis already used by the Student Financial Planning Office in conjunction with the costs incurred by each individual student for such things housing and food and developed a formula to automate the determination and proration of funding for each student. Amounts disbursed varied depending on the individual student’s costs and financial assistance. 

Per federal guidance, International students and DACA students were not included in the distribution of CARES funding and were instead provided funding directly from Monmouth College in the amount of $21,627.  Commuter students were omitted from this process as they incurred no disruption/relocation nor additional expenses for food and/or housing. Students who were unable to return home and remained on campus throughout the spring semester, were omitted from consideration. All other Title IV eligible students were considered for a portion of the emergency grants. 

Funding was disbursed through the Student Financial Planning Office directly to student accounts for tracking purposes. However, funds were disbursed directly to students by check or direct deposit bypassing any existing past due balance on student accounts. This enabled Monmouth College to get these federal CARES Act funds into the hands of students/families quickly.