How universities will get aid money to students
Funds come from the CARES Act
Universities in Tennessee have begun distributing federal aid money to students in need.
Their goal is to get emergency help to the neediest students as quickly as possible.
This money comes from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the federal response bill that includes benefits for individuals, businesses and governments. The CARES Act is issuing over $14 billion to higher education institutions because of the coronavirus, according to the U.S. Department of Education.
Amounts given to each school are calculated based on enrollment, according to the Department of Education. At each university, half of the amount given is required to go to students as emergency aid. "We are prioritizing this funding stream in order to get money in the hands of students in need as quickly as possible," said U.S. Secretary of Education Betsy Devos in a statement last month.
Colleges and universities have been given "significant discretion" to decide how to best distribute these funds, Devos said.
The universities in Tennessee that will receive the highest amount from the CARES Act are:
❚ The University of
(Knoxville), $19.3 million
❚ Middle Tennessee State University, $17.3 million ($8.6 million goes to students)
❚ The University of Memphis, $15.6 million ($7.8 million)
❚ East Tennessee State University, $11.1 million ($5.5 million)
❚ Austin Peay State University, $9.7 million ($4.8 million)
Here's how Tennessee's universities will handle the distribution:
Tennessee
In the Volunteer State, the University of Tennessee, Knoxville, is receiving the largest amount at $19.2 million. Of that, $9.6 million is required to go directly to students as emergency aid funding.
The majority of that money will be distributed as grants to students. Approximately 9,000 students at UT Knoxville are eligible for the aid, which UT has already begun distributing. That money will be distributed to students who have the highest financial need based on their FAFSA information, the university said in a statement.
Students who were eligible were notified last week, and can receive funds electronically or have a check mailed to them.
UT is waiting for further guidance from the Department of Education to decide how to use the remaining $9.6 million, according to the statement.
Middle Tennessee State University and East Tennessee State University
Like UT, Middle Tennessee State University is distributing funds directly to students, with no application process necessary. The distribution process is being finalized, but students who are eligible for funds will be notified and funds will be placed in their university accounts.
East Tennessee State University is still finalizing how it will distribute funds to students. "An internal team is meeting to create and provide recommendations to senior leadership on a plan to award and distribute these emergency funds in accordance with the CARES Act," the university said in a statement. The University of Memphis also is still finalizing plans, but plans to distribute funds beginning this week.
Austin Peay University is finalizing plans for distributing funds, but "will prioritize distribution of these funds to students who meet the Department of Education qualifications," said Austin Peay spokesman Bill Persinger.