Posted: Thursday, October 8, 2020
CARES Act Quarterly Budget and Expenditures Report - OCT. 2020
Access the CARES Act Quarterly Budget and Expenditures Report - OCT. 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.