The Coronavirus Aid, Relief and Economic Security (CARES) Act was passed by Congress and signed into law to provide economic relief from COVID-19. One section of the CARES Act established the Higher Education Emergency Relief Fund (HEERF) and sent money to schools to use for emergency financial aid grants to students for expenses related to the disruption of campus operations due to the pandemic.
Oakwood received $786,875 to be awarded as Emergency Financial Aid Grants (HEERF II) to Students.
As of July 10, 2021
- 2133 students have been identified as eligible
- 315 students have been awarded
- $501,468 funding awarded
CARES Act Funding
- On May14, 2020, Oakwood University signed and returned the Certification and Agreement to the Department of Education. Oakwood University intends to use no less than 50% of the funds received under Section 18004 (a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
- The total amount of funds that the institution has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students (HEERF II) is $786,875.
- As of June 30, 2021, Oakwood University has distributed $501,468 in Emergency Financial Aid Grants, distributed to students under Section 18004(a)(1) of the CARES Act as of the date of submission (i.e., as of the 30-day Report and every 45 days thereafter).
- As of June 30, 2021, Oakwood University has 2133 students who are eligible to participate in programs under Section 484 in the Title IV of the Higher Education Act of 1965 and are therefore eligible to receive Emergency Financial Aid Grants under Section 18004(a)(1) of the CARES Act.
- The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act is 315.
- The following method(s) were used by Oakwood University to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act:
- Students information from their FAFSA and other documents provided are are reviewed to determine if a student’s request meets appropriate qualifications.
- Oakwood is awarding funds ranging from $500 to $6,345.
- The actual grant depends on the student’s Expected Family Contribution (EFC), expenses, and availability of funds.
- Mass communication is being sent to students via email, text messages and social media directing students to log onto Net Partner to review and accept/decline their award.