The American Rescue Plan Act of 2021 (ARP Act) provided a third allotment of Higher Education Emergency Relief Funding (HEERF III) to institutions of higher education. 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 ARP Act (HEERF III). Drake will use at least $3,225,972 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 $3,225,972 under the student portion of the HEERF III.
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 June 30, 2021
In the quarter ending June 30, 2021, Drake has distributed or initiated payments in the amount of $163,650 to 257 students.
Quarter ending September 30, 2021
In the quarter ending September 30, 2021, Drake has distributed or initiated payments in the amount of $2,969,000 to 2,365 students.
Quarter ending December 31, 2021
In the quarter ending September 30, 2021, Drake has distributed or initiated payments in the amount of $111,127 to 44 students.
Quarter ending March 31, 2022
In the quarter ending March 31, 2022, Drake has distributed or initiated payments in the amount of $24,310 to 12 students.
As of March 31, 2022, Drake has distributed or initiated payments in the amount of $3,225,972 to 2434 students.
How did the University communicate instructions, directions, or guidance to students concerning the emergency financial aid grants?
Students have been (and will continue to be) informed of the availability HEERF III student funding through multiple channels, including campus email, COVID-19 campus announcements, newsletters, social media accounts, and other outreach from offices across the University, such as the Office of Global Engagement and the Dean of Students.
How is Drake determining which students did, or will receive emergency financial aid grants and how much funding they did, or will receive?
To be eligible for HEERF III student funding, a student must have been enrolled at Drake University on or after March 13, 2020. In addition, a student must sufficiently demonstrate “exceptional need”.
“Exceptional need” will be determined through one of three ways, as described below:
|2021-22 EFC||Undergraduate Student Amount||Graduate Student Amount|
|1 to 6,000||1,900||950|
|6,001 to 12,000||1,425||710|
|12,001 to 18,000||950||475|
|18,001 to 30,000||475||240|
How did those who were eligible apply to receive funds from HEERF III allocation?
Either the 2020-2021 FAFSA, the 2021-2022 FAFSA, or the HEERF III Application will be used to apply for awards and determine eligibility.