CSUMB Provides over $3.5M in Financial Relief to Students
May 11, 2020
Cal State Monterey Bay distributed Federal CARES Act and Institutional Emergency Relief aid this week - sending cash payments to over six-thousand students.
The emergency relief funds, a one-time disbursement, provide all eligible students with direct financial assistance of $200 to $1,430. The largest payments went to those students with the greatest need, according to the Department of Education guidelines and Title IV eligibility standards. Nearly 1,700 students received the maximum amount of funding, and over 360 students have already received additional emergency grants through a separate application and determination process. Payments from federal CARES Act funds distributed thus far include 5,924 students who received a total of $3,578,100 in aid.
“The COVID-19 pandemic has impacted our nation at all levels. While much of the response has focused on health and safety, the country’s financial welfare is an integral element of the Coronavirus Aid, Relief and Economic Security Act passed by Congress,” said Dr. Ronnie Higgs, Vice President of Student Affairs and Enrollment Services. “In keeping with our commitment to serving all students, we identified other non-federal sources to assist those who did not qualify under the CARES Act, including Dream Act and undocumented students. It is important for the university to assist as many students in need as we can.”
As a part of the CARES Act, the Higher Education Emergency Relief Fund made available financial resources for the direct relief of students and to offset university operating losses and additional expenses related to the COVID-19 response. In total, Cal State Monterey Bay anticipates receiving $8.45 million, to be split evenly between direct relief to the students and supporting university operating costs.