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. While the University has received confirmation of the availability of these funds, the University has not drawn down the available funds.

As of the date of this submission, the University has not distributed any HEERF Student Share Grant Funds but expects to begin distributing the funds during the week of June 29, 2020. As of May 11, 2020, the University finalized a policy regarding the HEERF Student Share Grant Funds and developed an online application process for students to request these grants. During the University’s Priority Application Period which ended on June 10, 2020, approximately 1,900 eligible students submitted HEERF Student Share Grant applications. The University is currently in the process of reviewing these applications based on the requirements of the CARES Act and available Department of Education guidance, and anticipates that after review, approximately $2.8 million will be distributed for this initial round of applications. The University continues to accept additional HEERF Student Share applications via the University’s HEERF Student Share online application website and expects to make additional distributions.

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.

On May 11, 2020, the University finalized its policy regarding the HEERF Student Share Grant Funds and developed an online application process for students to request these grants. During the University’s Priority Application Period which ended on June 10, 2020, approximately 1,900 eligible students submitted HEERF Student Share Grant applications. The University is currently in the process of reviewing these applications based on the requirements of the CARES Act and available Department of Education guidance, and anticipates that after review, approximately $2.8 million will be distributed for this initial round of applications. The University expects to begin distributing these funds during the week of June 29, 2020. The University continues to accept additional HEERF Student Share applications via the University’s HEERF Student Share online application website and expects to make additional distributions.

The University has 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 is was initially estimated to be $1,500. Based on actual applications received during the 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:

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

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

The Higher Education Emergency Relief Fund (HEERF) Student Share Grant online application is now available at forms.LUC.edu/heerf.

To log onto the online application, you will need your student UVID and password. Once logged in, you will be asked to provide receipts or documentation supporting your expenses. If you do not have supporting documentation, you will need to provide a statement regarding the expense.

As of the date of this report, students must have completed a Free Application for Federal Student Aid (FAFSA) for the 2019-2020 Aid Year in order to be eligible for the HEERF Student Share Grant Funds.

The University’s Priority Application Period ended on June 10, 2020, and the University expects to begin distributing funds during the week of June 29, 2020. Students who have not already completed an application may still do so at forms.LUC.edu/heerf.

On March 27, 2020 the federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The CARES Act includes several sources of funds for institutions of higher education, including a Higher Education Emergency Relief Fund (“HEERF”) that provides more than $14 billion in emergency funding to higher education. Of those funds, more than $6 billion must go directly to students in the form of emergency financial aid grants for expenses related to the disruption of campus operations due to the COVID-19 crisis (“HEERF Student Share Grant Funds”).

On April 9, 2020, the U.S. Department of Education (“ED”) published a list of individual institutional allocations, a certification form that must be signed and returned in order to access the funds, and a letter from the ED Secretary outlining ED's implementation of the CARES Act program.

Loyola University of Chicago (the “University”) is included in the list of higher education institutions eligible to apply for the HEERF Student Share Grant Funds. The University submitted the certification form on April 17, 2020.

On April 21, 2020, ED released additional clarification on student eligibility and allowable uses of HEERF Student Share Grant Funds including:

• Students must meet Title IV eligibility requirements in order to receive HEERF Student Share Grant Funds. These awards are not limited to undergraduate students.
  
  
• HEERF Student Share Grant Funds are to aid students for expenses related to the disruption of campus operations due to the coronavirus.
  
  
• Institutions must pay HEERF Student Share Grant Funds directly to students and may not apply the grants toward outstanding institutional charges.

Yes, graduate and professional students are eligible as long as they meet the Title IV requirements and certain other criteria for HEERF Student Share Grant Funds as outlined by ED. More information about eligibility criteria is included in the University’s HEERF Student Share Grant Funds policy

The University’s HEERF Student Share Grant Funds policy outlines eligibility requirements as well as the process by which students will be able to apply for the grants.

The University has 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 University’s HEERF Student Share Grant Funds policy outlines the process by which students will be able to apply for the grants and how they will be awarded and paid.

We recognize the importance of these emergency grants to our students and are working diligently to keep you updated regarding the application process and disbursement of funds. Additional information will be posted to LUC.edu/heerf as soon as it is available.