Olivet College has announced that 874 students will receive emergency federal funding provided by the Coronavirus Aid, Relief, and Economic Security (CARES) Act to assist them with unexpected costs incurred during the COVID-19 pandemic.
Students eligible to receive the OC CARES Grant were notified by email on May 15. For students who have signed up for direct deposit with the Office of Student Services, funds will be deposited on May 20. Checks will be mailed on May 21 to those students who do not have direct deposit.
The CARES Act was passed by Congress and signed into law to provide economic relief from COVID-19. It authorized the U.S. Department of Education to provide funding for universities and colleges to award in the form of emergency financial aid grants to eligible students.
Olivet College received $1,315,706 from the CARES Act, of which $657,853 is designated for emergency grants to students. The College will use the remaining funds to pay for other unexpected expenses due to COVID-19.
To be eligible for the OC CARES Grant, students must have been enrolled in the Spring 2020 semester and submitted their federal financial aid application (FAFSA) for the 2019-2020 academic year. Students also were invited to submit an OC CARES Grant online application indicating additional needs in basic living expenses and technology.
Awards ranged from $100 to $3,000. Olivet College confirmed students’ financial need based on their federal financial aid application on file with the College.