CARES Act Funding Report

UPDATE ON CARES ACT FUNDING

Florida Memorial University (“the University”) signed and returned to the Department of Education the Recipient’s Funding Certification and Agreement dated April 14, 2020. The University intends to use no less than 50% of the $1,077,322 funds received under Section 18004 (a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.

The University estimates that 724 students are eligible to participate under Section 484 in Title IV of the Higher Education Act of 1965, thus making them eligible for the Emergency Financial Aid Grants under Section 18004(a)(1) of the CARES Act. As of May 14, 2020, the University has not distributed emergency aid to student. However, funding will be disseminated on May 18, 2020.

The University will utilize an allocation of the Emergency Financial Aid Grants under Section 18004(a)(1) of the CARES Act based on Pell Grant and Direct Loan eligibility and credit hours enrolled for the Spring 2020 semester.

University students should continue to check their FMU email for updates regarding the CARES Act funding.

Click here to view the Federal CARES Act FAQs

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