CARES Act Higher Education Emergency Relief Fund Statement

September 30, 2020 – Quarterly Budget and Expenditure Reporting under CARES Act Sections 18004(a)(1) Institutional Portion, 18004(a)(2) Minority Serving Institution

At Averett University, we know many of our students are facing significant challenges due to the ongoing pandemic. To assist students who have been impacted financially, Averett is distributing emergency government grant funding via the CARES Act. The CARES Act Higher Education Emergency Relief Fund-IHE/Student Aid supplies funding for institutions to provide emergency financial aid grants to on-campus students who have been impacted by disrupted campus operations due to coronavirus, many of whom are facing financial challenges and struggling to make ends meet.

The CARES Act requires all colleges and universities participating in the program to provide access to the following information.

• Averett University has signed and returned the Department of Education the CARES Act Certification and Agreement. This document is an assurance that Averett has used, or intends to 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.
• The total amount of funds that Averett will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is $527,830.00.
• The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of submission (i.e., as of the 30-day Report and every 45 days thereafter) is $527,830.00.
• The estimated total number of students at the institution 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 is 716.
• The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act is 716.

Averett’s method of evaluating eligibility was based on the student being Title IV-eligible and based off of the students Expected Family Contribution (EFC) to determine which students receive Emergency Financial Aid Grants, and how much they would receive under Section 18004(a)(1) of the CARES Act.

Averett sent the following to qualifying students concerning Emergency Financial Aid Grants:

• CARES Act Letter to Student Recipients
• Lime Survey Notification

CARES Act – Institutional Funding

Averett University qualified for and received the second half of funding under the CARES Act Higher Education Emergency Relief Fund (HEERF) programs for institutions of higher education (IHEs) section 18004(a)(1) totaling $527,829.  These funds were used by the University to maintain 100% employment during the COVID-19 pandemic.

Averett University qualified for and received funding under the Office of Postsecondary Education: Higher Education Emergency Relief Fund-Strengthening Institutions Program totaling $51,475.  These funds were used by the University to maintain 100% employment during the COVID-19 pandemic.