Quarterly Budget and Expenditure Reporting for HEERF I, II, and III

ARP HEERF III Funds

In January 2021, Iona University was Selected to receive supplemental funding under The Higher Education Emergency Relief Fund III (HEERF III) which is authorized by the American Rescue Plan (ARP). This funding, in the amount of $4,211,115 will be combined with the remaining $94,806.56 from CRRSSA Act HEERF II for a total of $4,305,931.56 to be distributed to eligible students who are enrolled in Fall 2021 and meet the eligibility criteria. HEERF III funding can be used to meet any component of the eligible students’ Cost of Attendance and can be paid directly to the student account charges if authorized. HEERF I and II applications are no longer being accepted.

AMERICAN RESCUE PLAN (ARP) Higher Education Emergency Relief Funds Disclosures (HEERF III)

UPDATED November 28, 2022, HEERF III, Phase 3

Over the past two years, Iona University has distributed $4,269,719 in Higher Education Emergency Relief Fund III (HEERF III) assistance to our students. A balance of $36,221.56 is all that remains. The remaining funds will be disbursed on a first-come, first-served basis to currently enrolled students who demonstrate financial need as evidenced by receipt of a Federal Pell Grant, an outstanding balance, and/or loan borrowing history. These funds will be available only until December 15, 2022.

If identified as HEERF III, Phase 3 eligible, students will have the opportunity to apply the funds to outstanding account balances by indicating the selection of this option.

Current Term/Semester Tuition and Fees

The ARP includes an option for HEERF III funds to be applied to your current term / semester tuition and fee balance. By choosing this option, the award will be applied to your balance and the remainder, if any, would be issued to you through your refund choice. Please note that if you select this option and have an active monthly payment plan in place, your subsequent monthly auto-payments will be recalculated and reduced.

To view your balance, access your PeopleSoft account from the MyIona log-in area. Once you have logged in, follow this path: Campus Finances > Bill + Payment > Make a Payment.

All communications regarding HEERF III grants will be made through the official Iona University email address.

Iona University Refund Option

If awarded an ARP grant, any funds not applied to your account (as per your instructions) will be sent to your selected refund choice. Please note that your refund option must be set up in Peoplesoft in order to avoid delays in distribution. Awards could take up to 7-10 business days from receipt of this confirmation, assuming a direct deposit choice was selected.

Direct deposit to your checking or savings account: This option provides the quickest method for delivery of your funds. Students should have bank routing and account numbers ready when enrolling in this refund option. To set up direct deposit of your student refund to your bank account, log-in to your Iona University PeopleSoft account and follow this path: Campus Finances > Bill + Payment > eRefunds.

Not having a direct deposit refund choice established could result in delayed receipt of grant funds.

December 9, 2022:

1. Iona University acknowledges that it signed and returned to the U.S. Department of Education (the Department) the Certification and Agreement. Iona University intends to use no less than the funds received under Section 18004(a)(1) of the American Rescue Plan (ARP) to provide Emergency Financial Aid Grants to students. In accordance with federal requirements, Iona University is reporting the following information about the distribution of the Higher Education Emergency Financial Aid Grants to Students.

2. Iona University has been allocated $4,211,115 from the Department pursuant to the Certification and Agreement [for] Emergency Financial Aid Grants to Students under HEERF III. These funds are combined with the remaining CRRSAA HERF II funds of $94,806.56 for a total of $4,305,921.56

3. Grant Amounts by Student: $4,305,921.56 was disbursed to date (12/9/2022).

4. The estimated total number of students at Iona University who were eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 is 2,023.

5. The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the ARP as of December 9, 2022 is one thousand nine hundred and sixty-three (1,963).

6. The method(s) used by Iona University to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act is as listed above (HEERF III, Phase 2) and below (HEERF III, Phase 1).

HEERF III STUDENT ELIGIBILITY CRITERIA

Filed the Free Application for Federal Student Aid (FAFSA) for the 2021-2022 Academic Year
Be a US Citizen or permanent resident
Completed verification of the FAFSA data (if required) and received an award letter
Maintained Satisfactory Academic Progress
Currently matriculated at the College for the Fall 2021 Semester or Trimester
As of October 5, 2021, have an Expected Family Contribution up to $60,500
Be a full-time student

Full-Time Undergraduate Fall 2021
EFC Range	HEERF III Grant
$0 - $5,846	$ 3,400
$5,847 - $15,000	$ 2,200
$15,001 - $25,000	$ 1,200
$25,001 - $35,000	$ 1,000
$35,001 - $60,050	$ 550

Full-Time Graduate Fall 2021
EFC Range	HEERF III Grant
$0	$ 1,500

7. The instructions, directions, and guidance provided by Iona University to students concerning the (HEERF II) Emergency Financial Aid Grants is as follows:

Eligible students will be notified via Iona-provided email to complete the ARP (HEERF III) Fund Certification including the option to apply HEERF III funds to their Iona Student Account. The notification process began on November 10, 2021.

Current Term/Semester Tuition and Fees

The ARP includes an option for HEERF III funds to be applied to your current term / semester tuition and fee balance. By choosing this option, the award will be applied to your balance and the remainder, if any, would be issued to you through your refund choice. Please note that if you select this option and have an active monthly payment plan in place, your subsequent monthly auto-payments will be recalculated and reduced.

To view your balance, access your PeopleSoft account from the MyIona log-in area. Once you have logged in, follow this path: Campus Finances > Bill + Payment > Make a Payment.

All communications regarding HEERF III grants will be made through the official Iona University email address.

Iona University Refund Option

If awarded an ARP grant, any funds not applied to your account (as per your instructions) will be sent to your selected refund choice. Please note that your refund option must be set up in Peoplesoft in order to avoid delays in distribution. Awards could take up to 7-10 business days from receipt of this confirmation, assuming a direct deposit choice was selected.

Direct deposit to your checking or savings account: This option provides the quickest method for delivery of your funds. Students should have bank routing and account numbers ready when enrolling in this refund option. To set up direct deposit of your student refund to your bank account, log-in to your Iona University PeopleSoft account and follow this path: Campus Finances > Bill + Payment > eRefunds

Not having a direct deposit refund choice established could result in delayed receipt of grant funds.

CRRSAA HEERF II Funds

In December 2020, Iona University was selected to receive supplemental funding under The Higher Education Emergency Relief Fund II (HEERF II) which is authorized by the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA). This funding, in the amount of $1,535,457 will be combined with the remaining $336,706.06 from CARES Act HEERF I for a total of $1,872,163.06 to be distributed to eligible students who are enrolled in Spring 2021 and meet the eligibility criteria. Unlike HEERF I, HEERF II funding can be used to meet any component of the eligible students’ Cost of Attendance and can be paid directly to the student account charges if authorized. HEERF I applications are no longer being accepted.

HEERF II STUDENT ELIGIBILITY CRITERIA

Filed the Free Application for Federal Student Aid (FAFSA) for the 2020-20201 Academic Year
Be a US Citizen or permanent resident
Completed verification of the FAFSA data (if required) and received an award letter
Maintained Satisfactory Academic Progress
Currently matriculated at the College for the Spring 2021 Semester or Trimester
As of March 16, 2021, be a Federal Pell Grant recipient for Spring 2021 if an undergraduate student; or
As of March 16, 2021, have an Expected Family Contribution less than $3,000 for 2020-2021 if a graduate student

CRRSAA Higher Education Emergency Relief Funds Disclosures (HEERF II)

August 20, 2021:

Iona University acknowledges that it signed and returned to the U.S. Department of Education (the Department) the Certification and Agreement. Iona University intends to use no less than the funds received under Section 18004(a)(1) of the CRRSAA to provide Emergency Financial Aid Grants to students. In accordance with federal requirements, Iona University is reporting the following information about the distribution of the Higher Education Emergency Financial Aid Grants to Students.
Iona University has been allocated $1,535,457 from the Department pursuant to the Certification and Agreement [for] Emergency Financial Aid Grants to Students under HEERF II. These funds are combined with the remaining CARES Act HEERF I funds of $336,707.06 for a total of $1,872,164.06
Grant Amounts by Student: $1,777,356.50 was disbursed to date (8/20/21).
The estimated total number of students at Iona University who were eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 is 1,015. Only Title IV eligible students are eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act and CRRSAA Act.
The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CRRSAA Act as of August 20, 2021, is nine hundred sixty-four (964).
The method(s) used by Iona University to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act is as follows:
The $1,872,163.06 will be distributed as follows:
- Approximately 80% of available HEERF II funding will be paid to undergraduate students who were Pell Grant recipients for Spring 2021 as of March 1, 2021. Grant amounts are equal to the Spring 2021 Pell award up to a maximum of $2,500.
- The remaining 20% is allocated to graduate students with demonstrated need based on an Expected Family Contribution (EFC) of $2,999 or less as of March 1, 2021. Grant amounts range from $1,000 to $1,250.
The instructions, directions, and guidance provided by Iona University to students concerning the (HEERF II) Emergency Financial Aid Grants is as follows:
The CRRSAA has included an option for HEERF II funds to be applied to your current term/semester tuition and fee balance. By choosing this option, the award will be applied to your balance and the remainder, if any, would be issued to you through your refund choice. Please note that if you select this option and have an active monthly payment plan in place, your subsequent monthly auto-payments will be recalculated and reduced.

To view your balance, access your PeopleSoft account from the MyIona log-in area. Once you have logged in, follow this path: Campus Finances > Bill + Payment > Make a Payment.

All communications regarding HEERF II grants will be made through the official Iona University email address.

Eligible students will be notified via Iona-provided email to complete the CRRSAA (HEERF II) Fund Certification including the option to apply HEERF II funds to their Iona Student Account. The notification process begins on March 19, 2021.

Current Term/Semester Tuition and Fees

The CRRSAA has included an option for HEERF II funds to be applied to your current term/semester tuition and fee balance. By choosing this option, the award will be applied to your balance and the remainder, if any, would be issued to you through your refund choice. Please note that if you select this option and have an active monthly payment plan in place, your subsequent monthly auto-payments will be recalculated and reduced.

To view your balance, access your PeopleSoft account from the MyIona log-in area. Once you have logged in, follow this path: Campus Finances > Bill + Payment.

All communications regarding HEERF II grants will be made through the official Iona University email address.

Iona University Refund Option

If awarded a CRRSAA grant, any funds not applied to your account (as per your instructions) will be sent to your selected refund choice. Please note that your refund option must be set up in Peoplesoft in order to avoid delays in distribution. Awards could take up to 7-10 business days from receipt of this confirmation, assuming a direct deposit choice was selected.

Direct deposit to your checking or savings account: This option provides the quickest method for delivery of your funds. Students should have bank routing and account numbers ready when enrolling in this refund option. To set up direct deposit of your student refund to your bank account, log-in to your Iona University PeopleSoft account and follow this path: Self Service > Campus Finances > Bill + Payment > eRefunds

Not having a direct deposit refund choice established could result in delayed receipt of grant funds.

IMPORTANT NOTICE as of March 18, 2021: Iona University has been selected to receive supplemental funding under The Higher Education Emergency Relief Fund II (HEERF II) which is authorized by the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA). The College has developed its plan for distribution of any remaining CARES HEERF I funds and for distribution of CRRSAA HEERF II funding. HEERF I funding is now discontinued. Please refer to the CRRSAA section above.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes a Higher Education Relief Fund (HEERF). Iona University has been allocated funding to be used for emergency grants to students for expenses related to the disruption of campus operations as a result of the coronavirus. These emergency grants are non-renewable and must be cash awards given directly to students for expenses such as food, housing, course materials, technology, health care and childcare.

MINIMUM STUDENT ELIGIBILITY CRITERIA

Filed the Free Application for Federal Student Aid (FAFSA) for the 2019-2020 Academic Year
Be a US Citizen or permanent resident
Completed verification of the FAFSA data (if required) and received an award letter
Maintained Satisfactory Academic Progress
Enrolled at the College as of March 13, 2020 for the 2019-2020 year
Not enrolled exclusively in online courses before March 13, 2020

PHASE I GRANTS

Initial HEERF grants will be awarded in amounts between $328 and $1,750 to eligible students who received Federal Pell Grant awards in Spring 2020. Federal Pell Grant recipients do not have to apply but do have to attest that they have been financially impacted by COVID-19. Phase I eligible students have all been provided instructions via Iona-provided email and are not required to complete the application in Phase II. We do encourage students to update mailing addresses on PeopleSoft Self Service. The estimated amount of awards in Phase I is approximately 90% of the available funding.

PHASE II GRANTS

Iona University will reserve approximately 10% of funds ($159,000) to provide assistance to Title IV eligible students who were not eligible to receive grant funding or did not receive at least $1,000 in HEERF funds in Phase I. These impacted students may request assistance from the reserved pool and can receive up to a maximum of $1,000 including the amount provided in Phase I. Funds will be awarded on a first come, first serve basis until the funds are fully expended. Eligible students may request assistance on a case-by-case basis by submitting an application certifying to the fact that they have been financially impacted by COVID-19 disruption. Students who received a Federal Pell Grant in the amount of $1,000 or greater for Spring 2020 should not complete the Phase II application but should follow the instructions in the email notification in Phase I above.

DISBURSEMENT TIMEFRAME AND RECEIPT OF FUNDS

We began awarding Phase I grants in early June on a rolling basis. Eligible students will receive a paper check via United States Postal Service mail. The College cannot apply these funds directly to charges on your student account as they must be issued as grants directly to students.

All students who apply must meet the minimum eligibility criteria. Notification to ineligible applicants will be made within 7-10 business days after the application has been received and reviewed.

We will endeavor to distribute checks as quickly as possible, however, due to the high volume, we ask for your patience. Please anticipate a two to four-week processing time.

Please note that HEERF checks that are lost or not cashed within ninety (90) days of issuance will be voided and funds will be returned to the HEERF account unless notified by the recipient within 90 days. Funds in this status will be considered forfeited and made available to other students.

If you were eligible to receive a Phase I grant, please check your student email as notifications were sent to those eligible.

CARES ACT HIGHER EDUCATION EMERGENCY RELIEF FUNDS DISCLOSURES

February 17, 2021:

Iona University acknowledges that it signed and returned to the U.S. Department of Education (the Department) the Certification and Agreement. Iona University 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. In accordance with federal requirements, Iona University is reporting the following information about the distribution of the Higher Education Emergency Financial Aid Grants to Students.
Iona University has been allocated $1,535,457 from the Department pursuant to the Certification and Agreement [for] Emergency Financial Aid Grants to Students.
Grant Amounts by Student: A total of $1,198,750.94 was disbursed to date (2/10/21).
The estimated total number of students at Iona University who were eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 is 2,835. Only Title IV eligible students are eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act as of February 10, 2021 is eight hundred twenty-three (83).
The method(s) used by Iona University to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act is as follows:
- In following the spirit of the CARES ACT, Iona University will utilize approximately 90% ($1.375 million) of the funds received by distributing Higher Education Emergency Relief Fund (HEERF) grants to those demonstrating the greatest financial need as determined by the FAFSA. HEERF grants are capped at the $1,750 or students’ Spring Federal Pell Grant, whichever is less.
- Iona University reserved approximately 10% of funds to provide assistance to Title IV eligible students who were not eligible to receive grant funding or did not receive at least $1,000 in HEERF funds in Phase I. These impacted students may request assistance from the reserved pool and can receive up to a maximum of $1,000 including the amount provided in Phase I. Funds will be awarded on a first come, first serve basis until the funds are fully expended. Eligible students may request assistance on a case-by-case basis by submitting an application certifying to the fact that they have been financially impacted by COVID-19 disruption. The HEERF Application for students became available on June 16, 2020.
The instructions, directions, and guidance provided by Iona University to students concerning the Emergency Financial Aid Grants is as follows:
- In order to receive grant funding, students who meet the criteria under Phase I, have been sent an email on a rolling basis. Students are required to certify he, she, or they were impacted due to the COVID-19 related disruption such as food, housing, course materials, technology, health care, and child-care expenses. Through this Iona-provided notification, all steps are outlined with the required next steps.
- In order to receive grant funding, students who meet the criteria under Phase II can apply beginning June 16, 2020. Students are required to describe how they were financially impacted and certify he, she, or they were impacted due to the COVID-19 related disruption such as food, housing, course materials, technology, health care, and child-care expenses. Through this Iona-provided application, all steps are outlined with the required next steps.