The CARES Act Higher Education Emergency Relief Fund-IHE/Student Aid (HEERF) provides federal funding to institutions to provide emergency financial aid grants to students who have incurred expenses related to the disruption of campus operations due to coronavirus. The following information is shared in accordance with federal government reporting requirements.
Drake University has signed and returned the certification and agreement form for the Higher Education Emergency Relief Funding provided through the CARES Act. Drake intends to use at least 50% of the funds received for emergency financial aid grants to students, in accordance with guidance issued by the U.S. Department of Education.
What is the total amount of funds Drake University will receive or has received under the HEERF student portion?
Drake University will receive $1,112,113 under the student portion of the HEERF.
Of those funds, how much has been distributed, or has Drake initiated payments for? How many Drake students have received an emergency financial aid grant?
Quarter ending September 30, 2020
Through September 30, 2020, Drake has distributed or initiated payments in the amount of $780,067 to 735 students.
Quarter ending December 31, 2020
In the quarter ending on December 31, 2020, Drake distributed payments in the amount of $332,046 to 307 students.
As of November 30, 2020, Drake has distributed or initiated payments for all of the available student funding.
How did the University communicate instructions, directions, or guidance to students concerning the emergency financial aid grants?
The University provided instructions, directions, and guidance concerning the emergency financial aid grants to students in a number of ways, including via a campus-wide COVID-19 Update email on May 14, 2020.
How is Drake determining which students did, or will receive emergency financial aid grants and how much funding they did, or will receive?
In order to determine which Drake students did or will receive emergency financial aid grants and how much funding they did or will receive, students must complete an application to report their eligible expenses. Eligible expenses include those expenses that are related to the disruption of campus operations due to the coronavirus. Applications are reviewed in the order they are received, and eligible expenses will be paid up to a maximum of $6,000 per student, as funding allows.
How many students does Drake estimate are eligible to receive an emergency financial aid grant?
The University estimates that 3,100 Drake students are eligible to receive an emergency financial aid grant based on guidance from the Department of Education that recipients must also be eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965.
How did those who were eligible apply to receive funds from the CARES Act Emergency Grant program?
Those who met the criteria to receive a grant had to complete the CARES Act Student Grant Application to be considered for these federal funds. The application is no longer available as funds have been exhausted.
Drake University has received $1,112,112 under the institutional portion of the HEERF. The report below satisfies reporting requirements for this funding.