CARES Act Reporting
The Coronavirus Aid, Relief and Economic Security (CARES) Act allocates funds to support individuals and businesses/organizations, including colleges and universities, affected by the pandemic and economic downturn. OLLU has received funds under the CARES Act and is working to provide emergency assistance to as many students as possible to help them meet their emergency financial needs during this challenging time.
View the following reports:
HEERF Funding – Emergency Financial Aid to Students
As of Sept. 30, 2022
NOTE: The following information is reported per Notice by the Department of Education dated 5/13/2021.
(1) Our Lady of the Lake University acknowledges that the institution signed and returned to the Department the Certificate and Agreement and assures that the institution will use the applicable amount of funds designated under the HEERF (a)(1) and (a)(4) programs to provide Emergency Financial Aid Grants to Students.
(2) The total amount of funds that the institutional will receive from the Department pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students under the HEERF (a)(1) and (a)(4) programs is $5,135,525.00.
(3) The total amount of Emergency Financial Aid Grants distributed to students under the HEERF (a)(1) and (a)(4) programs is $5,135,525.00.
(4) The estimated total number of students at the institution that are eligible to receive grants under the HEERF programs is 2,354.
(5) The total number of students who have received an Emergency Financial Aid Grant to students under HEERF (a)(1) and (a)(4) programs is as of Sept. 30, 2022 is 2,574.
(6) The methods used to determine which students receive Emergency Financial Aid Grants are as follows.
AWARDS - OLLU created an online grant application in which each student indicated: 1) whether they had been impacted financially by the Coronavirus, 2) whether they submitted a FAFSA and 3) what specific financial needs they have in each area (food-related expenses, housing-related expenses, course-related expenses, technology-related expenses, health/childcare-related expenses). The Emergency Assistance Committee evaluated the applications and made award recommendations. The Financial Aid and Student Business offices reviewed the approved applications to ensure the student met the requirements for grants under HEERF at that time and then awarded the eligible students. Grants awarded were fixed amounts and/or awards were made directly towards student balances. In the student balance awards, the university obtained student permission to make these awards.
(7) The institution provided instructions, directions or guidance to students concerning the Emergency Financial Aid Grants using a multiple pronged communication approach with included:
a. CARES Act Funds web page on the institution’s website
b. Emails from Financial Aid and/or Student Affairs offices to students regarding grant opportunities with instructions on how to apply.
c. Multiple campus wide email notices to all individuals with university email address regarding the grant opportunity.
d. Office of Student Affairs calling students who had communicated a financial need due to COVID to inform them of the grant opportunities.
e. Financial Aid and Student Business offices posted notices with QR codes for students to apply from.