CRRSAA Quarterly Budget and Expenditure Institutional Reporting - Q1 2021
CRRSAA Quarterly Budget and Expenditure Institutional Reporting - Q2 2021
CRRSAA Quarterly Budget and Expenditure Institutional Reporting - Q3 2021
Updated 06/28/2021
As of June 25, 2021, Indiana Wesleyan University has awarded $2,271,623 as financial aid grants to students as received under the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA).
On June 11, 2021, 965 students were identified based on additional funding requests and program type. CRRSAA funding of $174,304 was divided among these students, resulting in emergency grants between $150 to $705 distributed to students.
On June 23, 2021, an additional 410 students were identified based on EFC and degree level. CRRSAA funding of $175,204 was divided among these students, with undergraduate students having an EFC of 0-1000 receiving between a $485 - $489 grant and graduate students with an EFC of 0-1000 receiving a $200 grant.
Additionally, five students were identified as having exceptional circumstances and were awarded financial aid grants for a total of $3700.
Funding received by Indiana Wesleyan University under the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 for Financial Aid grants to students has been fully awarded.
Updated 04/15/2021
Indiana Wesleyan University received additional Higher Education Emergency Relief Funding under the Coronavirus Response and Relief Supplement Appropriations Act, 2021. Funding was received on January 17, 2021.
The University is required to provide at least the same amount of funding in financial aid grants to students as was required to be provided under sections 18004(a)(1) and (c) of division B of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Indiana Wesleyan University received $2,271,623 in funding from the Department to award as Emergency Financial Aid grants to students under sections 18004(a)(1) and (c) of division B of the CARES Act. Our institution intends to provide the same amount, $2,271,623, in financial aid grants to students under the Coronavirus Response and Relief Supplement Appropriations Act, 2021.
An estimated 10,039 students were determined to be eligible to receive emergency financial aid grants under CRRSAA. Indiana Wesleyan University used a formula based on information received from the FAFSA to determine students who demonstrated exceptional need.
5454 students were identified as demonstrating exceptional needs. The FAFSA was used to determine an expected family contribution (EFC) cutoff, with undergraduate students below the cutoff receiving a $500.00 grant and undergraduate and graduate above the cutoff receiving a $200 grant.
Students were given the option to have the financial aid grant sent directly to them or apply the financial aid grant to outstanding charges on their account. Active confirmation was required to apply the financial aid grant to a student’s account balance.
As of 04/13/2021, $1,918,415 has been disbursed in financial aid grants to students. The University has retained $353,208 of said funding to continue to assist students with additional need requests.
Students were instructed to contact CARESAct@indwes.edu if they had additional expenses above the emergency grant received.
