Coronavirus Aid, Relief and Economic Security (CARES) Act Emergency Financial Aid Grant
The recently signed Coronavirus Aid, Relief, and Economic Security (CARES) Act established the Higher Education Emergency Relief Fund (HEERF). Mount Carmel College of Nursing was awarded $603,652 of funding from HEERF and intends to use no less than 50%, or $301,826, to directly support students whose lives and educations have been disrupted by COVID-19 pandemic. Direct support to students will be provided as an emergency financial aid grant and can be used for expenses such as food, housing, course materials, technology, health care, and child care.
Mount Carmel College of Nursing CARES Act Funding for student emergency grants
- HEERF Allocation for students - $301,826
- HEERF Title IV Eligible Students – 605
- HEERF Disbursed Funds - $303,105
Who is eligible for CARES Act funding?
The CARES Act defines basic eligibility criteria students must meet to receive these funds. The Mount Carmel College of Nursing has developed a methodology for identifying students that eligible for this grant. A student must meet the following criteria to be eligible for CARES Act funds:
- MCCN is your home institution;
- MCCN has received a valid 2019-2020 FAFSA application;
- Domestic student seeking an undergraduate or graduate degree from the Mount Carmel College of Nursing;
- Student was taking at least on in-person class at the time of disruption, during the Spring 2020 term.
How will I receive this grant?
CARES Act funds will be disbursed to your student account and then refunded to your bank account or in the form of a paper check. These funds are meant for direct student support, which means Mount Carmel College of Nursing will provide the full amount of emergency financial aid grant as a refund whether or not a student has an outstanding balance. Students who had not filed the 2019-2020 FAFSA as of April 15, 2020 were notified that this would be a requirement to receive funding through this program.
How did Mount Carmel College of Nursing award these funds to eligible students?
Mount Carmel College of Nursing awarded funds equally across the population of students who met the eligibility criteria listed above on May 7, 2020. There were no additional application requirements beyond the basic eligibility requirements determined by the Department of Education.
How can I spend CARES Act funding?
The purpose of the emergency financial aid grant is to offset costs related to disruptions in instruction during the Spring 2020 term. Emergency grant funds can be used for expenses such as:
- Course Materials,
- Health care, or
- Child care
Emergency financial aid grants have been deemed qualified disaster relief payments and are not subject to taxation per the Internal Revenue Code.
As a HEERF recipient, Mount Carmel College of Nursing, is required to disclose information regarding HEERF funding. This disclosure must be initially posted by 30 days of signing the Certification of Agreement and updated every 45 days later or after all funds have been disbursed. The disclosure must include: the methodology used to determine grant amounts provided to students; the total allocation provided to MCCN for emergency financial aid grants; the total amount distributed to students as of the reporting dates described above. Mount Carmel College of Nursing signed the Certification of Agreement on April 14, 2020. Disbursement disclosures was provided on May 11, 2020 and updated at least every 45 days thereafter, if any additional funds were disbursed. Due to widespread impact of COVID in the State of Ohio, students identified as eligible to receive the funds will receive an equivalent amount of funding. The total allocation and amounts disbursed to students are shown in the table above.