The American Rescue Plan (ARP) Higher Education Emergency Relief Fund Reporting Quarterly Report: Q2 2021 Posting Date: July 9, 2021 The American Rescue Plan (ARP) was passed by Congress and signed into law to provide economic relief from COVID-19. One section of the ARP Act allocated additional funding to the Higher Education Emergency Relief fund and sent money to schools to use for emergency financial aid grants to students for expenses related the coronavirus. These grants are known at the University as the “Hofstra HEERF III grants.” In accordance with federal requirements, the University is reporting the following information about its distribution of the Hofstra HEERF III grants. 1. Hofstra University received the additional allocation provided for HEERF III grants based on its completion of the agreement for the CARES Act / HEERF I funding. Hofstra University ensures that all the funds will be distributed as intended by the legislation. 2. Hofstra University was awarded $8,054,534 from the United States Department of Education in the student share of the HEERF III funding. 3. As of June 30, 2021, Hofstra University has distributed the $214,000 to our students in Hofstra HEERF III grants. 4. Since the institution has only begun to award this funding, a small population was initially identified. The number of students identified as eligible to receive the Hofstra HEERF III grants is 82 students. 5. As of June 30, 2021, the University has awarded Hofstra HEERF III grants to 59 students.
6. Hofstra’s goal is to provide economic relief quickly to students who have exceptional financial need. The University distributed the HEERF III / ARP Act funding to students with exceptional financial need, providing relief grants between $2,000 to $4,000, based on factors including eligibility for Pell grants, other indicators of financial need as indicated by FAFSA data and by account balances demonstrating an inability to meet financial obligations, as well as the applicable cost of attendance. 7. Eligible students received email and text notifications regarding the Hofstra HEERF III grants. They were advised that, in accordance with the ARP Act, the grant funds were to be used for the student’s expenses related to the coronavirus or a component of their cost of attendance (including, for example, food, housing, course materials, technology, health care, and child care). Students were given the option, as allowable by the law, to either have the funds apply toward their student account with the University or to have the funds refunded directly to them. They were required to sign and confirm that they understood and acknowledged the purpose of this grant and agreed to use the grant for expenses incurred in connection with the coronavirus.