ARP Act Funding

What is the ARP Act and will students get funding?
The American Rescue Plan Act is federal legislation signed into law on March 11, 2021 by President Biden.  The ARP appropriated approximately $39.6 billion for the Higher Education Emergency Relief Fund (HEERF) and represents the third stream of funding appropriated for HEERF to prevent, prepare for, and respond to coronavirus.  
Eligible Assumption University students were awarded ARP (HEERF III) funds in early December 2021.   

How much did the University receive in emergency grants under the CRRSA Act?
Assumption University received $1,979,751 in emergency grants for eligible students.  These grants can be used to pay for emergency costs that arise due to Coronavirus, such as tuition, food, housing, health care (including mental health), and childcare.   
 
Which students are eligible for HEERF III funding:
As of November 22, 2021, Assumption University used the following methodology to determine 935 students were eligible to receive HEERF III funds.   

1. Enrolled for a minimum of 12 credits as an undergraduate day student for the fall 2021 semester
2. Eligible for Title IV financial aid for the fall 2021 semester
3. Have a qualifying FAFSA EFC (expected family contribution) less than or equal to $25,000 for the 2021-2022 academic year
4. Currently an active student at Assumption University (has not graduated or withdrawn from the University)

When will students receive their HEERF III funding?
Assumption University processed HEERF III funds to eligible students in early December 2021.  

How does HEERF III funding impact a student’s financial aid for the 2021-2022 academic year?
If you receive a HEERF III grant, it will have no impact on your 2021-2022 Assumption University financial aid offer.   

Will I have to pay taxes on my HEERF III grant?
No, similar to HEERF I and HEERF II grant funds, HEERF III grant funds are qualified disaster relief payments under section 139 of the Internal Revenue Code.  HEERF III grants awarded to students under the ARP Act are not taxable income or untaxed income for Title IV federal student aid purposes.
 
 

The American Rescue Plan (ARP) Act is federal legislation signed into law on March 11, 2021 by President Biden.  The ARP appropriated approximately $39.6 billion for the Higher Education Emergency Relief Fund (HEERF) and represents the third stream of funding appropriated for HEERF to prevent, prepare for, and respond to coronavirus.  

ARP Act funds are intended to support individuals and organizations impacted by the COVID-19 pandemic and economic downturn.

Institutions of higher education received funding through the ARP Act called HEERF III (Higher Education Emergency Relief Funds) that provides money to students in the form of emergency grants to help offset costs that arise due to Coronavirus, such as tuition, food, housing, health care (including mental health), and childcare.  

The total amount of Emergency Financial Aid Grants distributed to students under Section 2003(a)(1) of the ARP Act as of the date of submission (i.e., as of the 30-day Report and every 45 days thereafter).

As of the date of this reporting (December 15, 2021), Assumption distributed $1,979,751 in Higher Education Emergency Relief Funds (HEERF III) to students in each December 2021.  
 
The estimated total number of students at the institution eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the ARP Act.

As of the date of this reporting (December 15, 2021), Assumption has fully distributed its HEERF III funding to 935 students.
 
The method(s) used by the institution to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the ARP Act.

As of November 22, 2021, Assumption University used the following methodology to determine 935 students were eligible to receive HEERF III funds.   

1. Enrolled for a minimum of 12 credits as an undergraduate day student for the fall 2021 semester
2. Eligible for Title IV financial aid for the fall 2021 semester
3. Have a qualifying FAFSA EFC (expected family contribution) less than or equal to $25,000 for the 2021-2022 academic year
4. Currently an active student at Assumption University (has not graduated or withdrawn from the University)

Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants.

Students awarded the HEERF funding were provided information on the emergency grants and instructed to visit our COVID-19 website for additional information. Information on the ARP Act and HEERF III funding is provided on Assumption’s COVID-19 website. 

Please click below to download the Quarterly Budget and Expenditure Reporting under CARES Act Sections 18004(a)(1) Institutional Portion, 18004(a)(2), and 18004(a)(3), if applicable.

2022 HEERF Quarterly Reporting – Revision

Quarterly Budget and Expenditure Reporting