On March 15, 2021, under the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA), Stevens received $1,560,853 from the Higher Education Emergency Relief Fund (HEERF II) to provide emergency financial aid grants to assist eligible students with financial challenges that resulted from the COVID-19 pandemic. A condition of the grant requires the university to prioritize students with exceptional financial need. Unlike the previous CARES Act (HEERF I), a student may authorize the grants provided through HEERF II to be used for university charges, such as, but not limited to, tuition and fees and room and board. The remainder of the total HEERF II allocation of $4,477,648 has been allocated to aid the institution with pandemic-related expenses.
Certification and Agreement
Stevens signed and returned to the Department of Education the Certification and Agreement and the assurance that the institution has used the applicable amount of funds designated under the CRRSAA to provide Emergency Financial Aid Grants to Students.
HEERF II grants must be awarded in accordance with federal guidance at the time of disbursement, which required that recipients be US citizens or Title IV-eligible non-citizens with financial need following guidelines established by the university.
Grant recipients may choose to authorize use of the grant to satisfy their outstanding account balance with the university. Stevens will not require that students authorize use of the grant to pay an outstanding balance in order to be eligible for or to receive a grant but will provide instructions for grant recipients with account balances to do so. If students do not authorize Stevens to apply the grant to their account, students will receive a check to their local address.
An application is not required. Students who meet the following criteria will automatically be considered for a grant:
- Enrolled in the 2020-2021 academic year as an undergraduate or full-time graduate student in a Stevens degree program.
- Have more than $10,000 in original financial need, as calculated by the Stevens Cost of Attendance less the Expected Family Contribution (EFC), as calculated with information provided by the FAFSA.
- Priority will be given to students that have used available self-help aid and have maximized their federal student loan eligibility.
Grants are awarded in the following priority order until all available funds are expended:
- Pell Grant recipients: $1,000
- Expected Family Contribution (EFC) between $5,712 and $20,000: $750
- Expected Family Contribution (EFC) between $20,001 and $30,000: $500
- Expected Family Contribution (EFC ) greater than $30,000 (until funds are expended): $250
As of June 30, 2021, a total of 2,656 Stevens students were eligible for HEERF II funding and the University awarded 2,313 of those students an emergency financial aid grant based on the above criteria. Below are the links to the quarterly reports summarizing the awards.
On May 24, 2021, Stevens received $8,194,313.00 under the American Rescue Plan (HEERF III), including $4,097,157.00 allocable to student aid and is currently developing a plan to disburse that funding. The distribution of HEERF III student financial aid to Stevens students will begin once the plan is finalized.