The CARES Act/HEERF Student Share Grant Funds

On April 17, 2020, the University signed and returned to ED the Certification and Agreement and the assurance that the University 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.

Pursuant to the Certification and Agreement, the University is eligible to receive up to $5,021,974 in HEERF Student Share Grant Funds. The University has received confirmation of the availability of these funds. As of the date of this report, the University has drawn down $5,014,188 of the available funds. The University draws down these funds on a reimbursement basis.

As of the date of this report, the University has distributed substantially all of the $5.0 million of available HEERF Student Share Grant Funds based on applications received from eligible students related to the Spring, Summer, and Fall 2020 academic terms. Following is a summary of the HEERF Student Share Grant Funds distributed to eligible students:

Funds distributed during the three months ended September 30, 2020: $3,519,545
Funds distributed during the three months ended December 31, 2020: $1,495,358
Total HEERF Student Share Funds Distributed as of December 31, 2020: $5,014,903

Approximately half of the HEERF Student Share Grant Funds were received by eligible students with the highest need, as determined by the student’s Free Application for Federal Student Aid (FAFSA)) Expected Family Contribution (EFC).

As of the Spring 2020 academic term, the University estimates that approximately 11,000 students, including students enrolled in associate’s, bachelor’s, graduate, and professional programs, may be eligible for the HEERF Student Share Grant Funds. This represents approximately two-thirds of the University’s total enrollment of approximately 17,000 students.

For the summer and fall 2020 academic terms, the University estimates that approximately 3,600 and 11,000 students, respectively, may be eligible for HEERF Student Share Grant Funds.

As of the date of this report, the University issued HEERF Student Share Grant Fund payments to approximately 3,000 students.

As presented in the University’s policy, the University decided to prioritize students with the greatest need, but at the same time establish a maximum funding threshold for each student to ensure that these funds are distributed as widely as possible. The maximum award was initially estimated to be $1,500. Based on actual applications received during the Spring 2020 Priority Application Period, some awards may be larger than this initial estimate.
Following is a summary of the University’s procedure for determining how the HEERF Student Share Grant Funds will be distributed for the Spring 2020 period:

• $4.5 million will be distributed based on student applications describing the expenses incurred as a result of the disruption of campus operations.
• The University will validate each student’s eligibility and will review supporting documentation. Student applications will be accepted during a two-week Priority Application Period.
• If the total value of applications received during the period exceeds $4.5 million (based on the lesser of the amount requested and supported or the maximum award), the University will allocate the funds based on lowest to highest Expected Family Contribution (“EFC”), until the cumulative grants total $4.5 million.
• If the total value of applications received is less than or equal to the $4.5 million, the University will approve each application for the lesser of the amount requested and supported or the maximum award.
• $0.5 million and any funds remaining after the initial funding round will be awarded to eligible students on a case-by-case basis taking into account individual student circumstances. The University will continue to make awards consistent with the CARES Act and the University’s policy until the HEERF Student Share Grant Funds are fully distributed.

The policy addendum provides information about how funds remaining after disbursement of the Spring 2020 grants will be distributed. Approximately $1.5 million of HEERF Student Share Grant Funds remain available for distribution to eligible students enrolled in academic terms subsequent to Spring 2020. Upon completion of the Post-Spring 2020 Priority Application Period, the remaining funds will be distributed as follows:

• If the total value of Eligible Applications received during the Post-Spring 2020 Priority Application Period exceeds the Post-Spring 2020 Available Funds (based on the lesser of the amount requested and supported or the Maximum Award), the University will distribute the Post-Spring 2020 Available Funds by ranking the Applications based on lowest to highest EFC until the cumulative grants total the Post-Spring 2020 Available Funds.
• If the total value of Eligible Applications received during the Post-Spring 2020 Priority Application Period is less than or equal to the Post-Spring 2020 Available Funds, the University will rank the Post-Spring 2020 Applications based on lowest to highest EFC and approve each Post-Spring 2020 Eligible Application for the lesser of the amount requested and supported or the Maximum Award.
• The University will use any remaining Post-Spring 2020 Available Funds to make additional awards consistent with the CARES Act. For example, the University may provide additional Spring 2020 and/or Post-Spring 2020 HEERF Student Share Grant Funds, increase the Maximum Award for Post-Spring 2020 Eligible Applications from students having the greatest financial need, or take such other allowable actions until the Post-Spring 2020 Available Funds are fully awarded.

The University developed an online application process for students to apply for the HEERF Student Share Grant Funds, accessible at https://forms.luc.edu/heerf/login

Review HEERF Student Share Grant Funds FAQs and LUC.edu/heerf for related information.

As of December 31, 2020, substantially all of the $5 million of available HEERF Student Share Grant Funds were distributed to eligible students. HEERF Student Share payment activity can be found by reviewing your account in LOCUS.

The Higher Education Emergency Relief Fund (HEERF) Student Share Grant was established by the CARES Act and guided by the U.S. Department of Education. According to the government’s regulations, the HEERF Student Share grants are to aid students for “expenses incurred related to the disruption of campus operations due to the coronavirus.” This is different than a change in a student's financial need due to COVID-19, which could be a result of a loss of income, rather than new expenses. Please refer to the HEERF Student Share Grant Policy for more information concerning expenses eligible for the HEERF Student Share Grant funds. If you wish to submit another application, please consider providing a description of how the expense incurred is related to the disruption of campus operations.

We truly empathize with the hardships our students and families are experiencing as a result of this pandemic. While your HEERF application did not meet the grant requirements, we want you to know that Loyola has a variety of programs to support you during this time. These programs include the Center for Student Assistance and Advocacy, the Loyola Commitment, and other financial aid assistance. We encourage you to learn more about this valuable assistance at LUC.edu/coronavirus/valuableassistance.

The CARES Act and the U.S. Department of Education established that the HEERF Student Share grants are to aid students for “expenses related to the disruption of campus operations due to coronavirus.” In addition, the U.S. Department of Education encouraged institutions to prioritize students with the greatest need while establishing thresholds to ensure that the funds are distributed as widely as possible.

As students submitted their HEERF Student Share applications, we became informed of the types and amount of expenses generally incurred related to the disruption of campus operations. Amounts you requested in certain expense categories may have been reduced to reflect a more equitable distribution of available funds, as well as compliance with the government’s guidelines on eligible expenses.

We truly empathize with the hardships our students and families are experiencing as a result of this pandemic. While the HEERF Student Share Grant funds you received were less than the amount you requested, we want you to know that Loyola has a variety of programs to support you during this time. These programs include the Center for Student Assistance and Advocacy, the Loyola Commitment, and other financial aid assistance. We encourage you to learn more about this valuable assistance at LUC.edu/coronavirus/valuableassistance.

Students enrolled in the fall semester must have completed a Free Application for Federal Student Aid (FAFSA) for the 2020-2021 Aid Year. If you have not yet filed a FAFSA, you can do so at www.studentaid.gov. Once the Financial Aid Office certifies you have a valid FAFSA, you can submit your HEERF Grant application.

The Higher Education Emergency Relief Fund (HEERF) Student Share Grant summer and fall application is now available at forms.LUC.edu/heerf.  Applications submitted by Wednesday, October 14 will be included in the Priority Application Period.

To log onto the online application, you will need your student UVID and password. Once logged in, you will be asked to provide receipts supporting expenses you incurred.

Students in associate’s, bachelor’s, graduate, professional, and certificate programs may apply for the HEERF Student Share Grant Funds. Students enrolled in the fall semester must have completed a Free Application for Federal Student Aid (FAFSA) for the 2020-2021 Aid Year. If you have not yet filed a FAFSA, you can do so at www.studentaid.gov. Once the Financial Aid Office certifies you have a valid FAFSA, you can submit your HEERF Grant application.

The University’s HEERF Student Share Grant Funds policy addendum outlines eligibility requirements and other important information concerning eligible expenses related to the summer and fall academic terms.

Expenses related to the disruption of campus operations which may qualify for a HEERF grant include:

• Expenses incurred related to breaking a lease or securing last-minute housing
• Moving, storage, and airline change fees
• Technology purchases related to the transition to online learning
• Other expenses including food, childcare, and healthcare related to the disruption of campus operations

Lost wages are not considered by the federal government to be an eligible expense.

The University’s HEERF Student Share Grant Funds policy addendum outlines the process by which students will be able to apply for grants for the summer and fall academic terms and how they will be awarded and paid. Approximately $1.5 million of HEERF Student Share funds remain available as of September 30. Applications submitted through noon on October 14 will be included in the priority application period.

Updates concerning available funds will be posted to LUC.edu/heerf.