Baylor College of Medicine signed and returned a Funding Certification and Agreement to the Department of Education (DE) agreeing to use no less than 50 percent of the funds received under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide emergency financial assistance to students in degree-granting programs who have incurred expenses directly related to the disruption of campus operations due to COVID-19.
In March 2020, Baylor was awarded $253,002 of CARES Act Higher Education Emergency Relief Funds (HEERF) to use toward emergency assistance for students. As of this update on March 2nd 2021, Baylor has issued CARES Act HEERF grant awards to 419 students totaling $253,002.00 and has drawn these funds.
- As of the Spring 2020 academic term, 475 Baylor students met the criteria to be eligible for CARES Act HEERF grant funding – an eligible student is one who was enrolled in a Baylor degree-granting program on March 13, 2020, was Title IV eligible, and had a current, valid FAFSA on file at the College.
- Students were informed of the opportunity to submit an application to request financial assistance during the period July 9 through July 22, 2020. Baylor received and reviewed 69 applications and, based on the documentation of eligible expenses in each application, allocated $77,672.00 to 63 of the applicants for expenses incurred as a result of the disruption of campus operations due to COVID-19.
- CARES Act HEERF awards vary by applicant. As students submitted HEERF applications, Baylor personnel became informed of the types and amount of expenses generally incurred related to the disruption of campus operations due to COVID-19. Amounts requested by students in certain expense categories may have been reduced to reflect a more equitable distribution of available funds, as well as, to ensure compliance with the Department of Education’s guidance on eligible expenses.
- $175,330 of CARES Act HEERF funds were also awarded to 394 students, each of whom was actively enrolled in a Baylor degree-granting program, had a FAFSA on file at Baylor and was receiving financial aid under Title IV. Each student was awarded $445. For students submitting applications who were already receiving financial aid under Title IV, this amount was given in addition to any amounts awarded based on application and documentation of expenditures.
On Dec, 27, 2020, BCM was allocated a total of $610,941 under the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA). Of this amount, $253,002 must be used for Emergency Financial Aid Grants to students. As of March 2, 2021, BCM is currently determining the methodology and eligibility requirements for these funds and will distribute as soon as is practicable.