CARES Act Funding
Assumption University signed and submitted its Certification and Agreement for the CARES Act funding on April 23, 2020 and plans to use this funding in the amount of $742,516 to provide Emergency Financial Aid Grants to enrolled full-time undergraduate day students.
As of July 8, 2020, Assumption has awarded $742,516 in HEERF (Higher Education Emergency Relief Fund) to students. The total number of students who meet the criteria to award CARES Act funding is 1,055 students.
Assumption University used the following methodology to determine which students were eligible to receive the HEERF funds and has instructed students to visit this website for additional information.
- Currently enrolled full-time students in the undergraduate day program (does not include students who failed Financial Aid SAP or graduated at the end of the spring 2020 semester).
- Title IV eligible (must have filed a 2019-2020 FAFSA and received federal funding for the spring 2020 semester.
- Enrolled for credits during the spring 2020 semester
CARES Act and HEERF
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What is the CARES Act and will students get funding?
The Coronavirus Aid, Relief and Economic Securities (CARES) Act is federal legislation passed in March 2020 that allocated funds to support individuals and organizations impacted by the COVID-19 pandemic and economic downturn. Institutions of higher education received funding through the CARES Act called HEERF (Higher Education Emergency Relief Funds) that provides money to students in the form of emergency grants to help offset expenses incurred related to the disruption of campus operations due to the Coronavirus.
Assumption signed the “recipients funding certification and agreement for emergency financial aid grants to students” and has used the funds to provide the mandated amount of at least 50% of the Higher Education Emergency Relief Fund (HEERF) to eligible students.
How much money did Assumption University receive in emergency grants?
Assumption University received $742,516 in emergency grants for eligible students. These grants can be used to pay for expenses related to the disruption of campus operations due to the Coronavirus, such as food, housing, course materials, technology, health care, and child-care expense.
Which students are eligible for HEERF funding?
The following group of students were determined to be eligible for HEERF funding:
- Currently enrolled full-time students in the undergraduate day program (does not include students who failed Financial Aid SAP or graduated at the end of the spring 2020 semester)
- Title IV eligible (must have filed a 2019-2020 FAFSA and received federal funding for the spring 2020 semester)
- Enrolled for credits during the spring 2020 semester
How does HEERF funding impact a student’s financial aid package for the 2020-2021 academic year?
If you received an HEERF grant, it will have no impact on your 2020-2021 Assumption University financial aid offer. Returning students will be notified of their 2020-2021 financial aid offers sometime in July.
Will I have to pay taxes on my HEERF grant?
No, HEERF grant funds are qualified disaster relief payments under section 139 of the Internal Revenue Code. This grant is not includible in your gross income. Please refer to the IRS page for additional information on HEERF grant funds to students.
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The Department of Education requires recipients of CARES Act funding to provide the below information.
An acknowledgment that the institution signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, or 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.
Assumption University signed and submitted its Certification and Agreement for the CARES Act funding on April 23, 2020 and has used 100% of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to enrolled, full-time undergraduate day students.
The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.
Assumption University has received $742,516 in the CARES Act funding for Emergency Financial Aid Grants to Students.
The total amount of 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 the date of this reporting (July 8, 2020), Assumption has distributed $742,516 in Higher Education Emergency Relief Funds (HEERF) to students.
May 18, 2020 – Assumption University has not distributed any HEERF funds to students.
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 CARES Act.
The total number of students who meet the criteria to award HEERF funding is 1,055 students.
The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.
As of the date of this reporting (July 8, 2020), Assumption has distributed HEERF funding to 1055 students.
May 18, 2020 – Assumption has not distributed any HEERF funding to 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 CARES Act.
July 8, 2020 – Assumption University determined that students who met the following criteria and were eligible for HEERF funding:
- Currently enrolled full-time students in the undergraduate day program (does not include students who failed Financial Aid SAP, graduated, or withdrew at the end of the spring 2020 semester).
- Title IV eligible (must have filed a 2019-2020 FAFSA and received federal funding for the spring 2020 semester.
- Enrolled for credits during the spring 2020 semester
May 18, 2020 Assumption University has not finalized the amount of funding students will receive or the methodology in determining which students will receive the CARES Act Emergency Financial Aid Grants.
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 CARES Act and HEERF funding is provided on Assumption’s COVID-19 website.
January Quarterly report – period covering September 30, 2020 – December 31, 2020
Assumption University disbursed its full HEERF CARES Act funding of $742,516 to 1055 students. This is the final report of the quarterly reporting as Assumption has expended all of its HEERF fund expenditures for Section 18004(a)(1) Student Portion funds.
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Institutions receiving funds under Section 18004(a)(1) of the CARES Act are required to submit a report to the Secretary of Education describing the use of funds distributed from the Higher Education Emergency Relief Fund (HEERF).
This section provides public information about Assumption University’s participation in the CARES Act and use of the institution’s HEERF Institutional Portion. This information will be updated no later than 10 days after the end of each calendar quarter.
Assumption University received confirmation of its signed Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund under the CARES Act to the Department of Education on June 26, 2020. These funds were awarded to the university on July 2, 2020.
Assumption University was allocated a total of $1,485,031 under Section 18004(a)(1). Pursuant to the Certification and Agreement for Emergency Financial Aid Grants to Students, at least $742,516 will be distributed directly to eligible students impacted by campus disruptions due to COVID-19. The Certification and Agreement for the Institutional Portion states that the remaining $742,515 may be used to cover institutional costs associated with COVID-19.
As of July 6, 2020, Assumption University has drawn down funding from the HEERF Institutional Portion totaling $742,515.
Beginning April 2020, Assumption University granted room and board refunds from the spring 2020 semester due to COVID-19. Assumption University has refunded a total of $4.6 million in room and board charges to students who needed to leave campus due to the COVID-19 pandemic. The HEERF Institutional Portion ($742,516) provides a recovery of these funds.
Please click on the below link to download the Quarterly Budget & Expenditure Report
What is the CARES Act and will students get funding?
The Coronavirus Aid, Relief and Economic Securities (CARES) Act is federal legislation passed in March 2020 that allocated funds to support individuals and organizations impacted by the COVID-19 pandemic and economic downturn. Institutions of higher education received funding through the CARES Act called HEERF (Higher Education Emergency Relief Funds) that provides money to students in the form of emergency grants to help offset expenses incurred related to the disruption of campus operations due to the Coronavirus.
Assumption signed the “recipients funding certification and agreement for emergency financial aid grants to students” and has used the funds to provide the mandated amount of at least 50% of the Higher Education Emergency Relief Fund (HEERF) to eligible students.
How much money did Assumption University receive in emergency grants?
Assumption University received $742,516 in emergency grants for eligible students. These grants can be used to pay for expenses related to the disruption of campus operations due to the Coronavirus, such as food, housing, course materials, technology, health care, and child-care expense.
Which students are eligible for HEERF funding?
The following group of students were determined to be eligible for HEERF funding:
- Currently enrolled full-time students in the undergraduate day program (does not include students who failed Financial Aid SAP or graduated at the end of the spring 2020 semester)
- Title IV eligible (must have filed a 2019-2020 FAFSA and received federal funding for the spring 2020 semester)
- Enrolled for credits during the spring 2020 semester
How does HEERF funding impact a student’s financial aid package for the 2020-2021 academic year?
If you received an HEERF grant, it will have no impact on your 2020-2021 Assumption University financial aid offer. Returning students will be notified of their 2020-2021 financial aid offers sometime in July.
Will I have to pay taxes on my HEERF grant?
No, HEERF grant funds are qualified disaster relief payments under section 139 of the Internal Revenue Code. This grant is not includible in your gross income. Please refer to the IRS page for additional information on HEERF grant funds to students.
The Department of Education requires recipients of CARES Act funding to provide the below information.
An acknowledgment that the institution signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, or 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.
Assumption University signed and submitted its Certification and Agreement for the CARES Act funding on April 23, 2020 and has used 100% of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to enrolled, full-time undergraduate day students.
The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.
Assumption University has received $742,516 in the CARES Act funding for Emergency Financial Aid Grants to Students.
The total amount of 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 the date of this reporting (July 8, 2020), Assumption has distributed $742,516 in Higher Education Emergency Relief Funds (HEERF) to students.
May 18, 2020 – Assumption University has not distributed any HEERF funds to students.
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 CARES Act.
The total number of students who meet the criteria to award HEERF funding is 1,055 students.
The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.
As of the date of this reporting (July 8, 2020), Assumption has distributed HEERF funding to 1055 students.
May 18, 2020 – Assumption has not distributed any HEERF funding to 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 CARES Act.
July 8, 2020 – Assumption University determined that students who met the following criteria and were eligible for HEERF funding:
- Currently enrolled full-time students in the undergraduate day program (does not include students who failed Financial Aid SAP, graduated, or withdrew at the end of the spring 2020 semester).
- Title IV eligible (must have filed a 2019-2020 FAFSA and received federal funding for the spring 2020 semester.
- Enrolled for credits during the spring 2020 semester
May 18, 2020 Assumption University has not finalized the amount of funding students will receive or the methodology in determining which students will receive the CARES Act Emergency Financial Aid Grants.
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 CARES Act and HEERF funding is provided on Assumption’s COVID-19 website.
January Quarterly report – period covering September 30, 2020 – December 31, 2020
Assumption University disbursed its full HEERF CARES Act funding of $742,516 to 1055 students. This is the final report of the quarterly reporting as Assumption has expended all of its HEERF fund expenditures for Section 18004(a)(1) Student Portion funds.
Institutions receiving funds under Section 18004(a)(1) of the CARES Act are required to submit a report to the Secretary of Education describing the use of funds distributed from the Higher Education Emergency Relief Fund (HEERF).
This section provides public information about Assumption University’s participation in the CARES Act and use of the institution’s HEERF Institutional Portion. This information will be updated no later than 10 days after the end of each calendar quarter.
Assumption University received confirmation of its signed Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund under the CARES Act to the Department of Education on June 26, 2020. These funds were awarded to the university on July 2, 2020.
Assumption University was allocated a total of $1,485,031 under Section 18004(a)(1). Pursuant to the Certification and Agreement for Emergency Financial Aid Grants to Students, at least $742,516 will be distributed directly to eligible students impacted by campus disruptions due to COVID-19. The Certification and Agreement for the Institutional Portion states that the remaining $742,515 may be used to cover institutional costs associated with COVID-19.
As of July 6, 2020, Assumption University has drawn down funding from the HEERF Institutional Portion totaling $742,515.
Beginning April 2020, Assumption University granted room and board refunds from the spring 2020 semester due to COVID-19. Assumption University has refunded a total of $4.6 million in room and board charges to students who needed to leave campus due to the COVID-19 pandemic. The HEERF Institutional Portion ($742,516) provides a recovery of these funds.
Please click on the below link to download the Quarterly Budget & Expenditure Report