CARES Act Emergency Fund

CARES Act Reporting Requirements

On April 10, 2020, the University of Memphis (UofM) signed and returned to the US Department of Education (U.S. DOE) the Certification and Agreement and the assurance that the institution intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students. The U.S. DOE provided UofM with an electronically signed Grant Award Notification (GAN) on April 28, 2020.

Pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students, the UofM will receive $15,603,750, one-half of which ($7,801,875) will be provided directly to students in the form of emergency grants.

As of May 28, 2020 the total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act is $7,115,300. The amount disbursed will be updated 45 days from May 28, 2020.

UofM estimated a total of 12,274 as eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.

As of May 28, 2020, 12,274 students have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.

The method used by UofM to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act is as follows:

• Student must be currently enrolled for the spring 2020 semester as a degree seeking undergraduate, graduate or Law
• Student must have completed a 2019-2020 FAFSA and meet all eligibility requirements for Title IV Financial Aid under Section 484 of the Higher Education Act.
• Student must have been financially impacted due to disruption of academic operations caused by COVID-19.
• Any student who was enrolled in an exclusively online program prior to the transition to remote instruction is not eligible to receive funds at this time.

All students at the UofM, were advised via email sent on May 4, 2020, about the distribution of these CARES Act funds.