CARES Act Funding
Posted Friday, January 7, 2022
QUARTERLY BUDGET AND EXPENDITURE REPORTING FOR HEERF I, II, AND III (A)(1) INSTITUTIONAL PORTION– DECEMBER 31, 2021
The Olin College December 31, 2021 Quarterly report is here.
Posted: Thursday, October 7, 2021
HEERF III Student Aid Portion Public Reporting
For the quarter ending September 30, 2021
On May 6, 2021, Olin College was notified that it would be receiving funds from the Higher Education Emergency Relief Fund III (HEERF III) as authorized by the American Rescue Plan (ARP). Olin received $236,513 from the Student Aid Portion and $236,511 from the Institutional Portion. No acknowledgement was required to be signed and returned, as it was stipulated that drawdown of the funds would constitute acceptance of the terms and conditions.
Between September 28 and September 30, 2021, Olin College disbursed $236,556 in emergency student aid payments to students with exceptional financial need. $236,513 of the payments were funded with the HEERF III Student Aid Portion proceeds. The remaining $43 was funded by the college. Olin used a block grant method of distribution and prioritized students with exceptional need by determining students with an EFC of less than $15,000 as determined by the FAFSA. In this tranche of funds (ARP) we also provided a block grant to our international students who were disproportionately impacted with significantly higher than usual travel costs (due to COVID) to return to campus and continue their degree.
The aid was disbursed in two tranches, as follows:
- 76 domestic students with an Expected Family Contribution (EFC) of less than $15,000 each received a grant of $2,481
- 24 international students each received a grant of $2,000
All students who were deemed eligible according to the criteria outlined above received a grant as indicated above.
The student recipients were notified via email on September 27, 2021 by Patricia Gallagher, Vice President for Financial Affairs and Chief Financial Officer. Links to the emails can be found here:
Posted: Thursday, October 7, 2021
Quarterly Budget and Expenditure Reporting for HEERF I, II, and III (a)(1) Institutional Portion– September 30, 2021
The Olin College September 30, 2021 Quarterly report is here.
Posted: Thursday, October 7, 2021 - AMENDED
Quarterly Budget and Expenditure Reporting for HEERF I, II, and III (a)(1) Institutional Portion– June 30, 2021
The Olin College June 30, 2021 Quarterly report has been amended. The updated report is here.
Posted: Wednesday, June 30, 2021
Quarterly Budget and Expenditure Reporting for HEERF I, II, and III (a)(1) Institutional Portion– December 31, 2020
Access the HEERF Quarterly Budget and Expenditures Report - Dec. 31, 2020 here.
Posted Wednesday, June 30, 2021
CRRSAA (HEERF II) Funding
This statement provides information to comply with reporting requirements for Olin College’s participation in the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA) as part of the Higher Education Emergency Relief Act (HEERF).
On January 29, 2021 Olin College received an allocation from the CRRSAA/HEERF II program of $263,423 of which no less than $89,212 was required to be distributed to eligible students in the form of emergency grants related to disruption of instruction due to the COVID-19 pandemic.
Beginning the week of February 22, 2021 Olin began distributing one-time grants of $1,373 to 65 eligible students, prioritizing those with exceptional financial need. The communication to students (see below) provided details regarding the distribution. This fully expends the student portion of CRRSAA/HEERF II funds provided to Olin College.
Notification to grant recipients:
An email was sent on February 22, 2021 to the 65 aid grant recipients by Patricia Gallagher, Vice President for Financial Affairs and Chief Financial Officer.
Posted: Wednesday, June 30, 2021
Quarterly Budget and Expenditure Reporting for HEERF I, II, and III (a)(1) Institutional Portion– March 31, 2021
Access the HEERF Quarterly Budget and Expenditures Report - March 31, 2021 here.
Posted: Friday, October 30, 2020
CARES Act Quarterly Budget and Expenditures Report - OCT. 30, 2020
Access the CARES Act Quarterly Budget and Expenditures Report - OCT. 30, 2020 here.
Posted: Friday, June 12, 2020
CARES Act Funding
This statement provides information to comply with reporting requirements for Olin College participation in the CARES Act Higher Education Emergency Relief Fund (HEERF).
On April 9, 2020 in a letter from Secretary of Education Betsy DeVos, Olin College learned that the institution would receive an allocation from the HEERF program of $178,424 of which no less than $89,212 must be distributed to eligible students in the form of emergency grants related to disruption of instruction due to the COVID-19 pandemic.
On April 23, 2020 Olin College submitted the required certification and agreement document for the HEERF funds for student emergency grants.
On May 14, 2020, Olin College received notice that the HEERF emergency student funds grant of $89,212 was approved and ready for drawdown.
As a fully residential campus, all students enrolled for Spring 2020 were required to leave campus housing by March 18, 2020. The few students who remained on campus due to personal circumstances experienced disruption to the extent that campus space and meal options were substantially curtailed.
Olin College estimates that 189 Title IV eligible students were enrolled in Spring 2020 and therefore experienced disruption due to COVID-19; this number is based on the number of students who filed a FAFSA for Spring 2020.
Beginning the week of June 15, 2020 Olin began distributing one-time grants of $473 to the 189 eligible students.The communication to students (see below or provide link) provided details regarding the distribution. This fully expends the student portion of HEERF funds provided to Olin College through the CARES Act.
Notification to grant recipients:
An email was sent to the 189 Title IV eligible students on June 12, 2020 by Patricia Gallagher, Vice President for Financial Affairs and Chief Financial Officer.
* This notice represents our initial 30 day reporting requirement. All student grant funds are expended with this reporting there will be no follow up (45 day) reporting issued.