CARES Act Emergency Financial Aid Grant to Students Report
Introduction
In accordance with Section 18004(e) of the CARES Act, Lincoln University is publishing data in lieu of submitting the initial (the “30-day Fund Report”) to the Secretary of the Department of Education (DOE). The (“30-day Fund Report”) will be submitted once final guidance is received from the Department of Education.
Acknowledgment of Funding and Certification
Lincoln acknowledges that the institution signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, or 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.
Total Award
Lincoln has received $1,747,266.00 from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.
Funds Distributed to Date
Lincoln has distributed $1,747,266.00 of Emergency Financial Aid Grants to students pursuant to Section 18004(a)(1) of the CARES Act as of May 28, 2020.
Student Eligibility
There are an estimated 1,819 students at Lincoln that are 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.
Total Student Awards Made
1,819 Lincoln students have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.
Methods Used to Determine Which Students Receive Aid and the Amount
Lincoln used the Free Application for Student Aid (FAFSA) and actual student award data to determine which students received Title IV aid during the spring 2020 semester. Students receiving Title IV aid were included in the list of students eligible to receive Emergency Financial Aid Grants. 1,819 of the estimated 1,819 eligible students have received $960.56 each under Section 18004(a)(1) of the CARES Act. Due to rounding errors associated with large numbers, some students received 2 or 3 cents more.
Notifications Provided to Students
Students receiving Emergency Financial Aid Grants were notified via their Lincoln email address of the amount and date of distribution. This email instructed them to select a refund preference and verify their address and/or their ACH deposit information so the funds would reach them in the shortest possible time.