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:
- Quarterly Budget and Expenditure Reporting for HEERF Institutional Funds_Q3 2020
- Quarterly Budget and Expenditure Reporting for HEERF Institutional Funds_Q4 2020
- Quarterly Budget and Expenditure Reporting for HEERF Institutional Funds_Q1 2021
- Quarterly Budget and Expenditure Reporting for HEERF Institutional Funds_Q2 2021
HEERF Funding – Emergency Financial Aid to Students
As of June 30, 2021
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 $1,287,056.00.
(4) The estimated total number of students at the institution that are eligible to receive under the HEERF programs is 2,747.
(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 June 30, 2021 is 2,857.
(6) The methods used to determine which students receive Emergency Financial Aid Grants are as follows. 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 Financial Aid office evaluated the applications to ensure the student met the requirements for grants under HEERF at that time and then awarded the eligible students. Grants were a different fixed amount for full-time and part-time students. The grant amount varied based upon the term and was approved by OLLU’s Executive Leadership.
(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 Office to eligible 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 sent mass text messages to eligible students regarding grant opportunity.
e. Office of Student Affairs calling students who had communicated a financial need due to COVID to inform them of the grant opportunities.