COVID-19 Update April 30: Aid Opportunities for Students in Need
Dear members of our Saint Louis University community,
Many of us have no doubt read about the CARES Act – the federal stimulus package in light of the COVID-19 pandemic – and the aid that it provides to higher education institutions such as ours.
As is the case for many of our peer institutions, we received the federal aid. For Saint Louis University, that will ultimately amount to $5.14 million. Half of that amount – $2.57 million – goes directly to our students who need it the most based on unexpected changes and expenses. The other half will go toward the university’s roughly $10 million cost recovery from refunds issued for room and board. (Please note that these amounts do not include the $1.67 million that our medical practice received from the stimulus package.)
The CARES Act instructs universities like ours to direct the aid for students to support current undergraduate and graduate students who have incurred expenses due to COVID-19. You will find examples of such expenses below. Financial questions and concerns voiced by SLU families have helped guide how to best distribute this aid, in adherence with the federal guidelines.
The federal act encourages us to give special attention to students with unmet needs, and those who are Title IV eligible. The CARES Act, however, does not address COVID-related expenses incurred by our international students, our DACA students, or those students who were already enrolled in exclusively-online programs, such as SLU’s School of Professional Studies.
To help us identify your needs, we are asking all students who have been financially harmed by COVID-19 to fill out our COVID-19 Relief Request Application so we can learn if you are eligible for either the CARES Act aid, our student emergency fund, or other forms of institutional aid.
There are two phases of CARES Act grants for our eligible students, which I will outline below:
Immediate, need-based grants ($1.5 million total) : These $300-$500 grants will automatically be distributed to those students whose Estimated Family Contribution (EFC) on the 2019-2020 FAFSA filing is below $12,000. The grant amount will be awarded on a sliding scale based on the family’s EFC.
We expect about 3,500 SLU students will be awarded grants, and that this money will be distributed by May 8 to the student’s MySLU account similar to the housing/dining refunds. Because these grants are automatic, there is no further action required by those students or their families.
: These $300-$500 grants will be distributed to those students whose Estimated Family Contribution (EFC) on the 2019-2020 FAFSA filing is below $12,000. The grant amount will be awarded on a sliding scale based on the family’s EFC. We expect about 3,500 SLU students will be awarded grants, and that this money will be distributed by May 8 to the student’s MySLU account similar to the housing/dining refunds. Because these grants are automatic, there is no further action required by those students or their families. Unexpected expenses grants ($1.07 million total) : We know many students face unexpected costs during the quick switch from face-to-face instruction to remote learning. The CARES Act encourages us to help students who have incurred a range of different expenses, including (but not limited to):
: We know many students face unexpected costs during the quick switch from face-to-face instruction to remote learning. The CARES Act encourages us to help students who have incurred a range of different expenses, including (but not limited to): Food
Housing and moving expenses (e.g. rent, storage)
Technology (e.g. internet, routers, computers, cameras, software)
Transportation (e.g. unexpected travel costs)
Child care
Medical expenses
Increased utility costs
The aid award amounts will vary based on need and funding availability after we review the student’s COVID-19 Relief Request Application. The maximum award amount will be $500. As stated above, the application is available as long as funds are available. We expect to process funding decisions within 5 days after receiving an application. Please note that in some cases, additional documentation may be required, which could extend our response time.
Additional relief funding
If you are not sure whether you qualify for funding under the CARES Act, we strongly encourage you to fill out the COVID-19 Relief Request Application. If you do not meet the qualifications for the federal aid, there may be other emergency funding or institutional aid available to help you. We will filter every application through every option available to best meet as much need as possible.
Please be sure you have a bank account set up for electronic refunds through your MySLU payment suite so that, if you are awarded aid, it will reach you quicker than if we have to mail you a check. It is also important to note that this aid could impact a student’s taxable income, and that it may be reported to the IRS.
We hope this is useful information for you, our students and families in need. The pain this pandemic has caused our community cannot be understated. Know that we are here for you. We are OneSLU.
Sincerely,
David Heimburger
Vice President and Chief Financial Officer