Higher Education Emergency Relief Fund – CARES Act Reporting for MVC (Updated through July 10):
Missouri Valley College has received a limited Grant from the Department of Education titled the Higher Education Relief Fund under the Coronavirus Aid, Relief, Economic Security (CARES) Act.
Missouri Valley College COVID-19 Student Relief Fund
The Grant includes Emergency Financial Aid Grants to Students. In connection with the Grants to Students, MVC signed and returned to the Department of Education the Certification and Agreement which, in part, acknowledges that MVC 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.
- $661,459 – Total amount received pursuant to MVC’s Certification and Agreement for Emergency Financial Aid to Students.
- $633,201 – Total amount Emergency Financial Grants distributed to students under Section 18004(a)(1) of the CARES Act as of July 10, 2020.
- 906 – Estimated total number of students at MVC eligible to receive Emergency Financial Aid Grants to Students under Section 18004(a)(1) of the CARES Act as of July 10, 2020.
- 906 – Total number of students who have received Emergency Financial Aid Grants to Students under Section 18004(a)(1) of the CARES Act as of July 10, 2020.
Specific instructions, directions, and guidance to students are provided in this report. An announcement to students via email and social media was also disseminated to all students on May 8, 2020.
Student Fund Description:
The Missouri Valley College COVID-19 Student Relief Fund is designed to assist currently enrolled students with expenses caused by the interruption of operations on campus due to the COVID-19 pandemic. This Student Relief Fund comes from limited federal stimulus funds (CARES Act) and is restricted by the Department of Education to eligible US students. In order to qualify for an award, the student must have been enrolled in face to face classes at MVC as of March 13, 2020.
Our goal in distributing this Fund is to adhere to the specific guidelines set forth by the US Department of Education: 1) assisting those students most in need while spreading the limited grant funds as widely as possible, and 2) getting the funds directly in the hands of our students as soon as possible.
Fund proceeds were allocated to students based on a number of factors, including, most importantly, the Expected Family Contribution (EFC) on the FAFSA of the student, and student classification (Resident Full Time, Commuter Full Time, Resident Part Time, or Commuter Part Time). The maximum student award was $1,100. Table 1 below shows individual award categories by EFC and student classification.
No application was required to receive the student award. Mail distribution of the student awards began Friday, May 8 to each student’s most recent student address on file at MVC.
Table 1: EFC Breakdown of funds for Full-Time Students
|Full-Time Residential Students
|0 to 500
|501 to 3000
|3001 to 6000
|6001 to 12000
|12001 to 20000
|20001 or higher
|No FY 19-20 FAFSA/EFC
For students attending MVC on a less-than full time basis (less than 12 hours for undergraduate students or less than 9 hours for graduate students), the relief amount was determined using the following formula:
Part-time example for an undergraduate commuter in 6 hours with a 0 EFC:
- 6 Hours / 12 Hours (minimum for full time status) = 0.5
- 0.5 * $770 (770 is the 0 EFC allocation for a commuter [Table 1])
- Relief Amount = $385.00
Missouri Valley Institution Share of Emergency Fund Grants
The Higher Education Emergency COVID-19 Relief Fund also included Institutional Grants. In connection with the Institutional Grants, MVC signed and returned to the Department of Education the acknowledgement that MVC intends to use the Institutional portion of the Higher Education Emergency COVID-19 Relief Fund to assist MVC with expenses caused by the interruption of operations on campus due to the COVID-19 pandemic.
- $726,027 – Total amount received pursuant to MVC’s Certification and Agreement for Emergency Financial Aid for Institutional Grants.
- $ 408,194– Total amount Emergency Financial Grants distributed to students for refunds for prorated room and board charges associated the change from face-to-face to online delivery of instruction due to the coronavirus as of July 10, 2020.
- 465 – Total number of students at MVC who received refunds of prorated room and board charges as of July 10. 2020.
- $317,833 – Amount remaining as of July 10, 2020 for other costs associated with other significant changes to the delivery of instruction due to the coronavirus.