Emergency Financial Aid Reporting

Emergency Financial Aid Grants to Students Fund Reporting

On March 27, 2020, the president of the United States signed the CARES Act (H.R. 748), which provides emergency relief funds to organizations and individuals affected by the coronavirus pandemic. The Higher Education Emergency Relief Fund (HEERF), found in Section 18004 of the CARES Act, provides funding to institutions of higher education “to prevent, prepare for, and respond to coronavirus.” This report provides details on the first award Soka University of America received under the HEERF, the funds for Emergency Financial Aid Grants to students under Award No. P425E200700.

Certification

Soka University of America (SUA) signed and returned to the Department of Education the Certification and Agreement for ED-GRANTS-041020-003 on April 13, 2020, and we received our grant award notification on May 13, 2020. SUA will use no less than 50% of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.

Award

Soka University of America will receive a total of $351,126 under Section 18004(a)(1) of the HEERF. At least $175,563 will be distributed directly to students impacted by campus disruptions due to the coronavirus. These funds being from the Department of Education and pursuant to our Certification and Agreement for Emergency Financial Aid Grants to Students.

Funds Distributed

As of 06/08/20, Soka University of America has distributed $175,563 in Emergency Financial Aid Grants to eligible students under Section 18004(a)(1) of the CARES Act.

Student Eligibility

Soka University of America (SUA) has an estimate of 208 students 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 under Section 18004(a)(1) of the CARES Act. As of 06/05/20, SUA has distributed Emergency Financial Aid Grants to 208 students under Section 18004(a)(1) of the CARES Act.

Method Used to Determine Students Eligibility

Tiers representing students Expected Family Contribution (EFC) are used to determine how much funds students are to receive. Below are the tiers with the amounts. Students did not have to apply with an application.

  1. Tier 1 EFC $0-5,100, Award $2,135 for the term
  2. Tier 2 EFC $5,101-15,000, Award $1,548 for the term
  3. Tier 3 EFC $15,000-51,000, Award $1,250 for the term
  4. Tier 4 EFC > $51,001, Award $1,005 for the term
  5. Tier 5 Students who did not already apply for aid but can verify eligibility for Title IV funding within the awarding disbursement period, Award $705 for the term

Instructions/Directions Given to Students

Instructions, directions and guidance provided to students regarding these Emergency Financial Aid Grants can be found on the Soka Financial Aid FAQ page.

Institutional Portion of the HEERF Grants Reporting

On March 27, 2020, the President of the United States signed the CARES Act (H.R. 748), which provides emergency relief funds to organizations and individuals affected by the coronavirus pandemic. The Higher Education Emergency Relief Fund (HEERF), found in Section 18004 of the CARES Act, provides funding to institutions of higher education “to prevent, prepare for, and respond to coronavirus.” This report provides details on Institutional Portion of the HEERF Grants under Award No. P425F200284.

Certification

Soka University of America (SUA) signed and returned to the Department of Education the Certification and Agreement the Institutional Portion of the HEERF under ED-GRANTS-041020-004 on April 21, 2020, and we received our grant award notification on May 14, 2020. SUA will used no less than 50% of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.

Award

Soka University of America will receive a total of $351,126 under Section 18004(a)(1) of the HEERF. At least $175,563 will be distributed directly to students impacted by campus disruptions due to the Coronavirus. These funds being from the Department of Education and pursuant to our Certification and Agreement for Emergency Financial Aid Grants to Students.

Funds Distributed

As of 06/08/20, Soka University of America has distributed $337,231 in Emergency Financial Aid Grants to eligible students ($175,563 from Award No. P425E200700 for Emergency Financial Aid Grants and $161,668 from Award No. P425F200284 from the Institutional Portion of HEERF) under Section 18004(a)(1) of the CARES Act.

Student Eligibility

Soka University of America (SUA) has an estimate of 208 students 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 06/05/20, SUA has distributed Emergency Financial Aid Grants to 208 students under Section 18004(a)(1) of the CARES Act.

Method Used to Determine Students Eligibility

Tiers representing students Expected Family Contribution (EFC) are used to determine how much funds students are to receive. Below are the tiers with the amounts. Students did not have to apply with an application.

  1. Tier 1 EFC $0-5,100, Award $2,135 for the term
  2. Tier 2 EFC $5,101-15,000, Award $1,548 for the term
  3. Tier 3 EFC $15,000-51,000, Award $1,250 for the term
  4. Tier 4 EFC > $51,001, Award $1,005 for the term
  5. Tier 5 Students who did not already apply for aid but can verify eligibility for Title IV funding within the awarding disbursement period, Award $705 for the term

Instructions/Directions Given to Students

Instructions, directions, and guidance provided to students regarding these Emergency Financial Aid Grants can be found on the Soka Financial Aid FAQ page.