CARES Act Higher Education Emergency Relief Fund Compliance and Reporting Information
CARES Act Higher Education Emergency Relief Fund Report
Stephens College has signed and returned the Certification and Agreement under Section 18004(a)(1) of the CARES Act stating that this institution intends to use no less than 50 percent of the funds received to provide Emergency Financial Aid Grants to students.
All Stephens College undergraduate and graduate students who were enrolled in 3 or more credit hours during the Spring 2020 semester and were not attending courses fully online prior to March 13, 2020 and who meet all federal eligibility requirements automatically received a CARES Act Higher Education Emergency Relief Fund grant of $363 on June 11, 2020.
Eligible students taking courses in Summer 2020 or Fall 2020 are also able to request additional funding through the Stephens College CARES Act Student Emergency Assistance Fund.
If a student believes they meet eligibility criteria and have been denied assistance, they can verify information or submit supporting documentation to the Office of Financial Aid.
To comply with U.S. Department of Education reporting requirements regarding Section 18004(e) of the CARES ACT, Stephens College will publish and update the following information regarding the allocation of Emergency Financial Aid Grants.
Required Student Aid Data Reporting as of April 9, 2021*
- Stephens College signed and returned to the Department the Certification and Agreement on May 21, 2020. The College 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.
- The College received $668,976 on June 15, 2020, from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.
- The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of April 9, 2021, is $334,488.
- 429 students enrolled in the 2020 Spring semester filed a FAFSA and 32 others were offered the opportunity to submit a FAFSA or work with the Financial Aid Office to certify as eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus are/be eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
- As of April 9, 2021, 437 students have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.
- Stephens College allocated approximately 50 percent of the student share of the Emergency Financial Aid Grants for equal distribution to all eligible students.
- The remaining approximately 50 percent of the funds were used to establish the Stephens College CARES Act Student Emergency Assistance Fund to provide additional support to students with the greatest need. Eligible students with additional need submitted applications for funds. All applications were processed on a first-come, first-served basis until all funds were disbursed.
- The College made every effort to contact all students via email, text message, social media and blog regarding available funding and established a website devoted to the Emergency Financial Aid Grants at stephens.edu/caresact.
- Students who are ineligible, or apply but do not receive a CARES Act grant, but still have financial need, should contact the Financial Aid Office.
Required Institutional Aid Data Reporting as of Dec. 31, 2020
*This data is final as of April 9, 2021, in compliance with DOE guidelines.