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Mercy College receives Coronavirus Aid, Relief, and Economic Security Act Funding (CARES)

Denise Hudgin

September 17, 2020 Update

Mercy College estimated that 865 students may be eligible to receive funds from the CARES Act. As of September 17, 2020 433 students have received monies totaling $561,000. Students who were Pell Grant eligible have received $1500 and other eligible students have received $1000. All grants have been awarded through the student’s Bank Mobile accounts.

July 23, 2020 Update

Mercy College estimated that 865 students may be eligible to receive funds and as of July 23, 2020, 504 students had applied with 431 of them eligible to receive funds. It was determined that students who were Pell Grant eligible would receive $1500 and other eligible students would receive $1000. All 431 eligible students have been awarded their grant money through their Bank Mobile accounts. To date, Mercy College has awarded $558,000 in emergency grant funds. Mercy College will continue to award these funds until fully depleted.

May 11, 2020

Mercy College developed an Emergency Fund Task Force to develop a process to distribute the CARES Act allocation to eligible students. The eligibility requirements stipulate students must meet Title IV (Financial Aid) eligibility requirements in order to receive emergency funds. Students must have experienced a financial hardship due to the disruption of campus operations because of the Coronavirus (COVID-19) as of the March 13, 2020 date when President Trump declared a National Emergency. Students who were enrolled exclusively in online programs on or before March 13, 2020 are not eligible. The guidance received from the Federal Government at this time is that the CARES money students receive will not be taxable.

The Task Force developed the CARES Act Student Emergency Grant Request Form for students to apply for funding with the due dates and eligibility requirements denoted. You can access the application form here. Mercy College estimated that 865 students may be eligible to receive funds and as of the first deadline, May 5, 2020, 297 students had applied with 260 of them eligible to receive funds. It was determined that students who were Pell Grant eligible would receive $1500 and other eligible students would receive $1000. The first round of money was awarded to students the week of May 11, 2020 through their Bank Mobile accounts. On Thursday, May 7, 2020 a second email was sent to students announcing a deadline extension of May 15, 2020 to apply for an emergency grant. All new applications will be reviewed with allocations to eligible students made in a timely manner. Mercy College will continue to award these funds until fully depleted.

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