CARES Act Funding

Information Regarding CARES Act Higher Education Emergency Relief Fund (HEERF) Grant

The Higher Education Emergency Relief Fund (HEERF) provided $6 billion to colleges nationwide for emergency student financial aid to be distributed to enrolled students who are “Title IV eligible” and have expenses related to the COVID-19 virus.

Hanover College has been allocated funds from the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act established and funded the Higher Education Emergency Relief Fund (HEERF) to provide emergency financial aid grants.

ACKNOWLEDGEMENT OF FUNDING AND CERTIFICATION

Hanover College has signed and returned the Certification and Agreement for CARES funding to the U.S. Department of Education. Hanover College 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 (HEERF grants).

Hanover College received $1,065,764 in funding from the U. S. Department of Education pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students in HEERF I funding. 50% of this funding went to student awards.

Hanover College received $1,037,007 for institutional funding from the U. S. Department of Education through HEERF II funding.

Funds for Emergency Financial Aid Grants to Students

Hanover College used $532,883 for student awards under the Higher Education Emergency Relief Fund student portion from HEERF I.

Hanover College received $532,883 under the Higher Education Emergency Relief Fund student portion from HEERF II

Emergency Financial Aid Grants Disbursed to Students Under Section 1800(a)(1) of the CARES ACT

As of May 28, 2020, Hanover College had disbursed $177,250.
As of July 31, 2020 Hanover College had disbursed $177,250.
As of August 31, 2020 Hanover College had disbursed $233,000.
As of September 30, 2020 Hanover College had disbursed $241,080.
As of November 30, 2020, Hanover College had disbursed $264,000.
As of December 31, 2020, Hanover College has disbursed $281,214.
As of January 31, 2021, Hanover College has disbursed $286,847.
As of February 28, 2021, Hanover College has disbursed $548,137.
As of March 31, 2021, Hanover College has disbursed $997,239.

QUARTERLY BUDGET AND EXPENDITURE REPORT (INSTITUTIONAL PORTION)

QUARTERLY STUDENT EXPENDITURES REPORT

Eligible Students

870 students were initially deemed 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. Winter/Spring semester revealed an additional 39 students eligible to receive funding.

Eligible Students Receiving CARES Act Funds

As of May 28, 2020, 155 Hanover College students have received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act.
As of August 24, 2020, 325 unduplicated students have received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act.
As of September 30, 2020, 330 unduplicated students have received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act.
As of November 30, 2020, 342 unduplicated students have received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act.
As of December 31, 2020, 353 unduplicated students have received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act.

Distribution Method

Hanover College reviewed and considered the suggestion of U.S. Secretary of Education Betsy DeVos when determining students with the most demonstrated need during the initial awarding of the grant.

For the initial round of funding, Hanover College used an electronic request form which was made available to all students determined eligible to receive funding. All eligible students received an email notifying them of the availability to apply for emergency funding using the provided electronic form. Funding was then given directly to the eligible students that applied and was based on their EFC.

A second round of funding was given to all eligible Pell grant students upon their arrival back at campus this fall to assist with COVID related expenses such as required materials for class and needed technology.

The third round of funding was made available to all eligible students to cover health expenses related to coronavirus. An electronic form was made available for the fall semester from August 24 through November 24, 2020.

The fourth round of distribution came from the HEERF II funding. Students were given funds based on the chart below. Student were given to option to electronically opt into having the funds applied directly to their student account, or receiving the funds by check. Of the 847 eligible students, 196 opted to have the funds applied directly their student account. The remaining 651 students received a check. The funds were distributed on March 12, 2021.

Category	# of students	Amount of Grant	Total	Explanation
0 EFC – Pell Grant Eligibility	120	$1000	$120,000	$500 living expenses; $150 technology
>0 (1- 5,694) EFC – Pell Grant Eligibility	165	$750	$123,750	$400 living expenses; $150 technology
5,695-19,999 EFC	224	$500	$112,000	$300 living expenses; $150 technology
20,000+ EFC	338	$250	$84,500	$150 living expenses; $150 technology
	847		$440,250

Communication to Students

Emails have been sent to all students that were eligible for funding on May 6, 2020, May 29, 2020 and August 24, 2020.

ACKNOWLEDGEMENT OF FUNDING AND CERTIFICATION

QUARTERLY BUDGET AND EXPENDITURE REPORT (INSTITUTIONAL PORTION)

QUARTERLY STUDENT EXPENDITURES REPORT

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