CARES Act Quarterly Budget and Expenditure Institutional Reporting - Q3 2020
CARES Act Quarterly Budget and Expenditure Institutional Reporting - Q4 2020
Updated 01/07/2021- Final Report
Indiana Wesleyan University has awarded in total $2,271,623 as Emergency Financial Aid grants to students as received under Section 18004(a)(1) of the CARES Act.
On December 13, 2020, 1090 students were identified as having disruption to campus operations due to coronavirus during the Fall semester. CARES Act funding of $109,960 was divided among those students, resulting in emergency grants between the amounts of $100 to $108 distributed to students. The remaining $1396 was awarded to two students who submitted requests for additional assistance due to expenses incurred related to the disruption of campus operations due to coronavirus.
Funding received by Indiana Wesleyan University under Section 18004(a)(1) of the CARES Act for Emergency Financial Aid grants has been fully awarded.
Updated 10/07/2020
Indiana Wesleyan continues to receive and process additional expense requests related to the disruption of campus operations due to coronavirus. Students are asked to explain the expenses they have incurred and provide supporting documentation if applicable.
As of October 7, 2020, Indiana Wesleyan University has distributed an additional $3,120 to one student since the last disclosure notification on August 13, 2020. $111,356 remains of said funding to continue to provide emergency grants to students who request additional assistance.
Updated 08/13/2020
Previous communications instructed students to contact CARESAct@indwes.edu if they incurred expenses related to the disruption of campus operations due to coronavirus that exceeded the initial emergency grant received. Indiana Wesleyan continues to receive and process those additional expense requests. Students are asked to explain the expenses they have incurred and provide supporting documentation if applicable.
As of August 13, 2020, Indiana Wesleyan University has distributed an additional $43,620 to 24 students since the last disclosure notification on July 1, 2020. $114,476 remains of said funding to continue to provide emergency grants to students who request additional assistance.
Updated 07/01/2020
Indiana Wesleyan University implemented a CARES Act application deadline of June 15, 2020. Per the instructions on the application, students who had expenses that exceeded the initial emergency grant were to submit an additional request for funding. As of June 15, 2020, an additional $403,477 was disbursed to 815 students based on the original application formula and to fund added requests.
On June 26, the University identified 3318 current students who met the eligibility requirements to receive emergency grant funding under the CARES Act - who previously had not received additional funding. $912,450 was divided equally among those students, resulting in a $275 emergency grant distributed to each student.
As of July 1, 2020, Indiana Wesleyan University has distributed $2,113,527 of the $2,271,623 student aid funding it received under section 18004 (a)(1) of the CARES Act as emergency grants to students. The University has retained $158,096 of said funding to continue to assist students with additional expense requests.
Updated 05/19/20
Indiana Wesleyan University signed and returned to the Department, the Certification and Agreement to apply for funding under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on April 13, 2020. The University intends to use no less than 50 percent of the funds received to provide Emergency Financial Aid Grants to students.
The University was approved and received $2,271,623 in funding from the Department to award as Emergency Financial Aid grants to students on April 21, 2020. As of May 19, 2020, $797,600 has been disbursed to 1649 students.
An estimated 3690 students were determined to be eligible to participate in programs under Section 484 in the Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants under Section 18004 (a)(1) of the Cares Act.
Eligible students must have a FAFSA on file, be Title IV eligible with verification complete (including resolution of c-codes), in good academic standing, and not enrolled exclusively in an online program when the University moved to online instruction on March 16, 2020.
Students were sent a link to an application where they could self-certify they had expenses related to the disruption of campus operations due to coronavirus. The FAFSA was used to determine an expected family contribution (EFC) cutoff, with students below the cutoff receiving an $800 grant and those above receiving a $300 grant. Students were instructed to contact CARESAct@indwes.edu if they had additional expenses above the emergency grant received.
