Quarterly Report for June 30, 2021
Posted July 1, 2021
King University has signed and returned the Certification and Agreement form to the Department of Education and has provided students with more than the appropriated amount of funds received under the Coronavirus Response Relief Supplemental Appropriation Act (CRRSAA)-(HEERF II). The funds were awarded and student refund checks mailed to King University students on March 30, 2021. Eligible students and amounts were awarded under the guidelines that were in place on that date. The total awarded was $702,627, and we distributed $703,782 to students on March 30, 2021. Cumulatively for HEERF I and HEERF II we have received $1,405,254 in funding and have awarded $1,407,292 in refunds to students. This exceeded the required amount. There were no refunds awarded this quarter.
King University also received an Institutional share under the HEERF II Act to help itself with the additional costs related to the impacts of the Coronavirus. This amount was $1,883,603.
The guidelines in place on March 30, 2021, dictated that for a student to receive these funds they must have exceptional need. See the guidelines on this website https://studentaid.gov/understand-aid/eligibility/requirements.
These Emergency Grant funds were disbursed based on students having the greatest need as required by the Department of Education. Calculations were based on the student’s Estimated Family Contribution (EFC) from the 2020-2021 FAFSA and a student’s enrollment status (full-time or part-time). These funds could be used for any component of a student’s cost of attendance or any emergency costs that arise due to COVID-19.
It was determined that King University had 838 eligible students who had exceptional need and received the awards. The amounts for students ranged from $193 to $965.
The University’s HEERF II disbursement plan aligns with the US Department of Education guidance for how the funds should be distributed that were in place at the time student awards were made. The student share of the Higher Education Emergency Relief Funding must be used for student expenses due to COVID-19.
King University did not award nor refund any additional student emergency grants in the quarter ending June 30, 2021.
Revised on 11/18/21