Quarterly Report for September 30, 2021
Posted October 8, 2021
King University has signed and returned the Certification and Agreement form to the Department of Education and has provided students with a portion of the funds received under the American Rescue Plan (ARP) of the Higher Education Emergency Relief Fund III (HEERF III). The funds were awarded and student refund checks were mailed to King University students on July 29, 2021. Eligible students and amounts were awarded under the guidelines that were in place on that date. The total awarded to King for students was $2,377,564 of which $1,033,280 has been distributed on July 29, 2021. Cumulatively for HEERF I, HEERF II, and HEERF III we have received $3,782,818 in funding and have awarded $2,440,572 in refunds to students. This exceeded the required amount.
King University also received an Institutional share under the HEERF III Act to help itself with the additional costs related to the impacts of the Coronavirus. This amount was $1,923,285.
The guidelines in place on July 29, 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 692 eligible students who had exceptional need and received the awards. The amounts for students ranged from $400 to $1,600.
The University’s HEERF III 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.
Revised on 11/18/21