Coronavirus Aid, Relief and Economic Security (CARES) Act funding
The Coronavirus Aid, Relief and Economic Security (CARES) Act was passed by Congress and signed into law to provide economic relief from COVID-19. Section 18004(a)(1) of the CARES Act established the Higher Education Emergency Relief fund and sent money to schools to use as emergency financial aid grants to students for expenses related to the disruption of campus operations due to the pandemic.
Indiana University Kokomo acknowledged, signed, and returned to the U.S. Department of Education the Certification and Agreement on May 11, 2020, and gives the assurance that IU Kokomo intends to use no less than 50% of the funds received under section 18004(a)(1) of the CARES Act to provide emergency financial aid grants to students. Indiana University Kokomo received $1,252,810, to provide emergency grants to students.
As of June 11, the total amount of emergency financial aid grants distributed to students under Section 18004(a)(1) of the CARES Act at IU Kokomo is $ 1,252,810.
The estimated number of IU Kokomo students eligible to participate in programs under section 484 in Title IV of the Higher Education Act of 1965, who were enrolled in in-person Spring 2020 classes prior to all classes going online March 23, and eligible to receive grants under the CARES Act is 1,942. We first reported on June 11, 2020 per Department of Education guidelines and our final reporting as of July 21, 1,942 students have received awards.
Grants were distributed using two methods:
- Grants ranging from $337 to $1200 were automatically awarded to undergraduate and graduate students based on EFC, dependency status and level of enrollment. All selected students had a FAFSA on file to demonstrate eligibility for federal aid.
- Eligible students who needed additional assistance were encouraged to apply for emergency aid through the IU Kokomo CARES emergency aid application. Award amounts for grants by application were consistent with automated award amounts.
Instructions, directions and guidance were provided to grant recipients via IU email sent from the Office of the Dean of Students.
- Quarterly Budget and Expenditure Reporting under CARES Act Sections 18004(a)(1) Institutional Portion and 18004(a)(2) for Quarter Ending 12/31/2020