On March 27, 2020, the federal government enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act includes a Higher Education Emergency Relief Fund (HEERF). A portion of HEERF funds must go directly to eligible students in the form of emergency financial aid grants for expenses related to the disruption of campus operations due to the COVID-19 crisis. In accordance with federal requirements, recipients must be eligible to file a FAFSA and eligible to receive federal Title IV student financial aid. CARES Act funds cannot be awarded to non-Title IV eligible students, international students, DACA students, or students enrolled in an online program prior to March 13, 2020.`
The following information is provided as required by the U.S. Department of Education to comply with reporting requirements under the CARES Act. This is the University’s updated report in compliance with the requirement to provide updates every 45 days.
1. Corban University has signed and returned the Department of Education’s Certification and Agreement to access the federal CARES act funding for higher education institutions. Corban will use 50% of the funds received to provide emergency financial aid to students.
2. The total amount Corban University has received to distribute to students as emergency financial aid grants is $443,702
3. As of November 12, 2020, the University has not drawn any of the available funds from our federal account. The total number of students who have received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act stands at 121 and will continue until the funds are spent or September 30, 2022, whichever comes first.
4. The estimated total number of students eligible to participate in Title IV programs at Corban University is 1,348.
5. As of November 12, 2020, 121 students have received an Emergency Financial Aid Grant for a total of $309,000. Corban will update this site as disbursements are made to students.
6. In order to distribute the funds to students with the most financial need, eligible students qualify to receive a federal emergency grant by submitting a valid online application and demonstrating federal Title IV eligibility by submitting a valid Free Application for Federal Student Aid (FAFSA). Students are asked to describe their circumstances and how their enrollment at Corban has been affected during the pandemic and make a request for assistance. A small committee reviews the applications and makes an allocation in a case-by-case situation with a maximum award of $6,195 as recommended by the Department of Education.
7. Students received an email notification on May 22, 2020, that the application was available. Any additional updates to this process will be communicated to students via email in addition to being posted here.