CARES Act Sections 18004(a)(1) Institutional Portion and 18004(a)(2) Expenditure Report

Allocation

Wytheville Community College (WCC) received an allocation from the Coronavirus Aid, Relief, and Economic Security (CARES) Act under Section 18004(a)(1) in the amount of $1,217,475. WCC 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.

The College was allotted $608,738 from the U.S. Department of Education pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students.

The College was also allotted institutional funds in the amount of $608,737 as part of the Higher Education Emergency Relief Fund Institutional Grant of the CARES Act. This allotment will be utilized in accordance with the CARES Act guidelines. Initial guidance states that these funds are to be directed toward costs associated with the significant changes to the delivery of instruction due to the coronavirus. WCC awaits further guidance from the Department of Education and the Virginia Community College System regarding the allowable methodology for expending this second half of CARES Act funding.

Distribution of Funds

As of May 12, 2020, $605,000 has been received by WCC and distributed to students under Section 18004(a)(1) of the CARES Act.

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 is ­­­931.

The total number of students for whom Emergency Financial Aid Grants have been processed under Section 18004(a)(1) of the CARES Act as of May 12, 2020, is 605.

Eligibility

WCC disbursed approximately 99% of the funds, or $605,000 without further application to students whose Title IV eligibility had already been established in accordance with Section 484 of the Higher Education Act. In accordance with the CARES Act, WCC directed funds to students who demonstrated the most financial need as per the FAFSA (Free Application for Federal Student Aid) on file. The following additional criteria were used to determine funds disbursement:

  • Students were enrolled in 6 or more credits during the Spring 2020 semester
  • Students were NOT enrolled in all online course work as of 3/13/2020
  • Students had an EFC (Expected Family Contribution) of $13,000 or less per the FAFSA

Method

The method used to determine how much students would receive under Section 18004 (a)(1) of the CARES Act is as follows:

  • All funding was disbursed to 605 students in the amount of $1000
  • Funds were disbursed directly to students. If a student owed a balance to WCC, these funds were not applied to that balance. Disbursements were sent to students per their previously selected refund method (direct deposit or paper check)

For more information regarding requirements, see Higher Education Emergency Relief Fund Reporting- Emergency Financial Aid Grants to Students

 

WCC FacebookWCC TwitterWCC InstagramWCC LinkedInWCC Youtube