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Financial Aid

CARES Act Funding 

  

Federal Emergency Relief Fund for LC Students 

 

  

Laredo College has received the U.S. Department of Education Higher Education Emergency Relief Funds (HEERF) funded by the Coronavirus Aid Relief and Economic Security (CARES) Act, which was passed by Congress and signed into law in March.  

  

The CARES Act money will be distributed to students that meet certain requirements.  These funds will be used to assist Title IV eligible students as part of the Federal Coronavirus Aid Relief and Economic Security (CARES) Act to directly support Title IV eligible students who are facing financial challenges due to the ongoing COVID-19 pandemic. 

  

Laredo College Title IV eligible students will have access to the U.S. Department of Education Higher Education Emergency Relief Funds.  The CARES Act funds will be used to address Financial Hardship (To include: Housing, Utilities, Lack of Educational Support, Food, Technology, Medical Expenses, Books, Supplies, Transportation expenses, Gas and Health Insurance) due to the COVID-19 epidemic. 

 

 

To receive the CARES Act Funds, Title IV eligible students must meet the following criteria:

 

 

  • U.S. Citizen or an eligible non-citizen (including a U. S. National or Permanent Resident)
  • Have completed the 2019 – 2020 Free Application for Federal Student Aid (FAFSA), to apply visit www.fafsa.ed.gov
  • Complete Verification, if selected
  • Must meet Financial Aid Satisfactory Academic Progress (2.0 GPA and 67% completion rate)
  • Be enrolled for at least 3 eligible credit hours or more in an eligible degree or certificate program for the Spring 2020 Semester
  • Students that were enrolled in 100% online courses, prior to the COVID-19 pandemic are not eligible for the CARES Act Funding

 

Financial Hardship Allowable Expenses: 

 

  • Food/Groceries
  • Housing/Rent/Utilities/Mortgage (cell bill)
  • Lack of Educational Support/Course Materials
  • Technology (Internet Services, Online Books, Equipment, Software/Hardware, Hotspot Internet Devices, Laptop, etc)              
  • Health Care/Medical Expenses/Health insurance (co-pays)      
  • Childcare/Dependent Expenses
  • Transportation (Gas/Uber, Vehicle Repairs, Insurance, etc.)                    
  • Other

 

CARES Act Questions & Answers (Q & A)

 

  • Do I need to complete a FAFSA to receive CARES Act funds?

    • Yes, students must have a successfully completed FAFSA on file. Students who have not filed a FAFSA, and are in need of financial assistance, should immediately file a 2019-2020  FAFSA. 
     
  • How do I know if I am eligible to file a FAFSA?
    • The eligibility criteria to file a FAFSA, as outlined in Section 484 of the Higher Education Act (HEA), include but are not limited to the following: 
      • U.S. citizenship or eligible noncitizen
      • Valid Social Security number 
      • Registration with Selective Services, if male 
      • High school diploma, GED, or completion of high school in an approved homeschool setting 
  • Can dual enrolled students be eligible for the CARES Act Funding?
    • No, unfortunately those students are not eligible.  
  • Can undocumented students and international students receive funds under the CARES Act?
    • No, international and undocumented students are not eligible for CARES Act funding.  
  • I am enrolled in an online program; do I qualify for CARES Act funds?
    • You are not eligible for CARES Act funds if you were enrolled exclusively in an online program as of March 13, 2020. However, if you were enrolled in a combination of online and in-person classes, you are eligible. 
  • Are students enrolled in a non-degree or certificate program eligible for CARES Act funds?
    • No, only students enrolled in a degree-seeking program are eligible. 
  • Do I need to be meeting satisfactory academic standards (SAP) to receive funds?
    • Yes, to be eligible for CARES Act funding, you must meet Satisfactory AcademicProgress (SAP) standards, which are established by the Financial Aid & Veterans Affairs Services Center following Federal guidelines. 
  • I have an outstanding tuition/housing balance for the current semester; would these funds be applied to that balance?  
    • No, the funds will be sent directly to you. 
  • How long before I receive funds?
    • Requests will be processed on a first-come, first-served basis. 
  • How will I receive funds if my request is approved?
    • Direct deposit is the fastest way to receive your funds. If you do not have direct deposit with the Bursar’s Office, please request the BankMobile Option.  
  • Can these funds affect other aid that I have already received?
    • No, CARES Act Funds will not reduce your financial aid package. 
  • Are CARES Act Funds taxable and included on a 1098-T?
    • It’s unclear at this time, but it appears that these grants may be legally exempt from 1098-T reporting and exempt from taxation altogether. 
  • How much funding is available?
    • We will keep you updating on the award amounts for each student. 
  • If I have an institutional debt (Emergency Loans, TPEG Loans, Return 2 Title IV, Installment Plan, etc), will I have to use the CARES Act Emergency Funding to cover this debt(s)? 
    • No, the CARES Act requires institutions to provide the emergency financial aid grants to student. It will be up to the student to use the CARES Act Emergency Funding to pay the outstanding balance. 
     

Laredo College Higher Education Emergency Relief Fund Report  

 

 1.   An acknowledgement that the institution signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students. 

 

2.   The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students. 

  • Laredo College has received the U.S. Department of Education Higher Education Emergency Relief Funds (HEERF), funded by the Coronavirus Aid Relief and Economic Security (CARES) Act. Laredo College received a total amount $8,926,222 of which $4,463,111 will be distributed to eligible Title IV students affected by the COVID-19 pandemic.

 

3.   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). 

  • As of 06/2020, Laredo College has distributed $1,424,000 of CARES Act Funding. 

 

 

4.   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. 

  • Laredo College has identified approximately 3,207 Title IV eligible students to receive the Emergency Cares Act Funding. 

 

 

5.   The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act. 

  • Out of 3,204 Title IV eligible students 1,780 have received Emergency Financial Aid Grant. 

 

 

6.   The method(s) used by the institution to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act. 

  • As per the recommendation from the U.S. Department of Education, we have identified Title IV eligible students to receive CARES Act Funding. Amounts will vary. 

 

 

7.   Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants. 

  • Laredo College created a CARES Act information website dedicated to provide up-to-date CARES Act Funding information to Laredo College students and community. 

 

 

 

Laredo College will notify eligible students of the process and any additional requirements. 

 

Please check your LC Email and/or the Financial Aid Website: http://www.laredo.edu/cms/fa/ for details and updates. In addition, stay tuned for communications from Laredo College regarding the distribution of CARES Higher Education Emergency Relief Fund (HEERF) Grants. 

 

For further information or questions, please email finaid@laredo.edu or call 956-721-5361/956-794-4360.