On May 20, 2021, under the American Rescue Plan (ARP), Stevens received $4,097,157 from the Higher Education Emergency Relief Fund (HEERF III) 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 educational institution to apply the grants provided through HEERF III to satisfy university charges, such as, but not limited to, tuition and fees and room and board. The remainder of the total HEERF III allocation of $8,194,313.00 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 ARP to provide Emergency Financial Aid Grants to Students.
HEERF III grants must be awarded in accordance with federal guidance which requires the institution establish guidelines for disbursement, with a priority to assist students with demonstrated exceptional financial need.
Grant recipients may choose to authorize application 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.
Grants will be disbursed throughout the distribution period, with funding prioritized to individuals who demonstrate exceptional financial need and/or changes to financial circumstances. Eligible students must:
- Be enrolled in the 2020-2021 with an intent to enroll in the 2021-2022 academic year as an undergraduate or graduate student, or
- Be enrolled in the 2021-2022 academic year as an undergraduate or graduate student in a Stevens degree program, and
- Demonstrate exceptional financial need as indicated on the Free Application for Federal Student Aid (FAFSA) /or a change in financial circumstances, as indicated via a request for professional judgement special conditions request review.