The Coronavirus Assistance, Relief and Economic Security (CARES) Act was approved by Congress and includes support for higher education, including emergency grants for students facing expenses due to COVID-19. The Department of Education has asked that we post the following information for Magdalen College students and families.
1) Magdalen College signed a certification and agreement with the Department of Education confirming that 50% of the funds received under Section 18004(a)(1) of the Higher Education Emergency Relief Fund would be used to provide emergency financial aid grants to students who were enrolled during the spring semester.
2) Magdalen College received a total of $51,796 designated for Emergency Financial Grants to students.
3) As of June 17, 2020, $51,796 of this total amount has been disbursed in the form of individual grants to eligible students.
4) Students who met basic eligibility criteria for federal financial aid were considered for these funds. The Office of Financial Aid used the Free Application for Federal Student Aid (FAFSA) to determine basic eligibility for the grant and also to assess each student’s financial need. Students who had not completed the FAFSA were notified that they should complete the FAFSA to be considered eligible. They were provided with information on the CARES Act and how it might benefit them to complete the application for federal aid.
5) The total number of students at the institution eligible to receive these Emergency Financial Aid Grants is 76. The number of students who have received these grants as of June 17, 2020, is 76.
6) The FAFSA EFC (Expected Family Contribution) was used to calculate each student’s financial need and how much each would receive under Section 18004(a)(1) of the CARES Act.
7) Students were advised that the Emergency Financial Aid Grants were awarded for expenses associated with campus disruptions due to COVID-19. These could include costs involved in transitioning to remote learning course materials, housing, transportation, technology, and health care.
Quarterly Budget and Expenditures Report (Ending September 30, 2020)