Certification and Allocations:
On April 16, 2020, Marywood signed and returned to the Department of Education the Certification and Agreement and the assurance that the institution has used, or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students. Marywood University received $2,020,450 from the CARES Act. Fifty percent (50%) of those funds or $1,010,225, was allocated for Emergency Financial Grants to Students. These funds were received on May 7, 2020. The program concludes on December 31, 2020, and, as of that date, Emergency Financial Aid grants, totaling $1,010,225, were allocated to students.
Eligibility of Students/Disbursement of Funds:
At Marywood, there were 2,282 students eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
Methods of Determination/Guidance to Students:
To determine which students received allocations of Emergency Financial Aid Grants, as well as how much they received, under Section 18004(a)(1) of the CARES Act, Marywood devised and used formulas based on need (according to financial aid records) and the cost of attendance. Students were told that the funds from the Emergency Financial Aid Grants were allocated to cover expenses related to the disruption of campus operations due to coronavirus, including eligible expenses under a student’s cost of attendance, such as food, housing, course materials, technology, health care, and child care. They were also asked to indicate how they generally intended to use their allocation to offset those expenses.