Federal CARES Act Funding
On April 16, 2020, Embry-Riddle Aeronautical University signed and returned to the Department of Education the Certification and Agreement that states the institution will use no less than 50 percent of funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students. Embry-Riddle Aeronautical University received Grant Award Notification for Authorized Funding in the amount of $3,422,858 with a period of performance beginning April 24, 2020. The estimated total number of students 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 is 4,981.
Total CARES Act funds disbursed to students as of:
- May 14, 2020 - $65,083 to 113 students
- June 1, 2020 - $178,577 to 223 students
- July 6, 2020 - $2,021,116 to 1,117 students
- August 7, 2020 - $2,763,612 to 1,567 students
- September 30, 2020 - $3,174,462 to 2,397 students
- December 2, 2020 - $3,422,858 to 3,179 students – This is the final report that covers all remaining HEERF Fund expenditures for Section 18004(a)(1) Student Portion funds.
On April 21, 2020, Embry-Riddle Aeronautical University signed and returned to the Department of Education the Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund under Section 18004(a)(1) and 18004(c) of the CARES Act. Embry-Riddle Aeronautical University received a Grant Award Notification with Authorized Funding in the amount of $3,422,858 with a period of performance beginning May 04, 2020. The funds from the Institutional Relief portion of the CARES Act (CARES Act II) are used to reimburse the institution for costs related to the disruption of campus activity due to COVID-19.
Total CARES Act II funds disbursed for the month of:
- June 2020 - $1,831,891
- July 2020 - $832,536
- August 2020 - $133,812
- September 2020 - $113,589
CARES Act Application Closed
Embry-Riddle received CARES Act funding to assist students who incurred expenses directly associated with the disruption in campus operations due to coronavirus. Based on federal guidance, the funds cannot be used to replace a student’s lost wages or address other financial hardships – even if these were caused by the pandemic.
We have assisted more than 3,400 students who applied for these funds.