ADMINISTRATION & FINANCE

Report for funds disbursed to students


Report for funds disbursed to students per the Emergency Financial Aid Grants to Students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act- May 26, 2020

The requirements for these funds must complete the below criteria.

An acknowledgement that the institution signed and returned to the Department of Education 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. Central State University (CSU) acknowledged the Certification and Agreement on April 13, 2020.

The total amount of funds that the institution will receive or has received from the Department of Education pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students. CSU has received $1,678,000 of the $1,822,906 award amount.

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). The University disbursed $1,678,000 to 1733 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 University disbursed Emergency Financial Aid to 1733 students. All eligible students were disbursed aid per allocation requirements, as outlined under Section 18004(a)(1).

The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act. 
The total pool of eligible students to receive emergency aid from the CARES funding in this first round was 1,733.

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. The University identified the eligible students after excluding students who were international, 100% online, employees, or in federal aid default. The students that remained were allocated funds based on the University full-time and part-time status. Refunds were based on the following cost of attendance allocations: food ($250), housing ($250), course materials ($250), and technology ($250). Full-time students with 12 credits or above received $1,000, and part-time students with 3 credits to 11 credits received $500. The initial disbursement of funds represented 91% of the available funds allocated by the CARES Act to the University. The remaining funds were set-aside in an emergency pool for the summer and fall emergency needs of the students. These funds will be disbursed through an application process administered by the Office of Financial Aid.

Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants. 
The University used two methods to communicate with students regarding emergency financial aid funds. The University placed the information on the University Website and sent an All-FYI email to all students. In addition, a University Press Release was released to the public on the receipt of the funds and timing of the disbursement to students.