As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law on March 27, 2020, federal stimulus funds were approved to provide relief for higher education institutions and their students. Anna Maria College signed and returned to the Department the Certification and Agreement and the assurance that the institution intended to use no less than 50 percent of the funds received to provide Emergency Financial Aid Grants to students.

The CARES relief program requirements were intended to provide priority funding to Title IV eligible students, but the program also allowed any student—including those not eligible for federal aid who could demonstrate financial costs associated with the transition to online learning—to apply for assistance.  Guidance from the US Department of Education encouraged institutions to prioritize allocating more funding to students with the “greatest financial need” while disbursing the remaining funding as “widely as possible.”  The College acted in accordance with that guidance, and based on the size of its need-based population, the awards varied based on Expected Family Contribution (EFC).

The college outlined an award distribution program with three tiers of award funding.  Emphasis was given to students and families with a low demonstrated Expected Family Contribution (EFC).  Consideration was also given to the magnitude of the circumstances outlined by the applicant.  If a student did not have a FAFSA on file at the time they applied for CARES Act funding, and they were otherwise eligible for Title IV funding, they were awarded in the lower tier group.

Like other institutions across the country that received CARES funding, the College allocated half of its federal grant funding to assist students with COVID-19 disruption-related expenses including: food; housing (not including billed room and board); course materials; health care; childcare; technology (e.g., buying a computer to work online or internet costs); and transportation.

A table with an awarding summary is provided below for each of the calendar years in which CARES Act funding was provided.

Across calendar years 2020 and 2021, Anna Maria College received a total of $2,397,988 for student aid disbursements.  Of the 1,013 eligible students in CY2020, 319 received awards totaling $320,100.  In CY2021, 542 of the estimated 2,107 eligible students received awards totaling $1,456,125, with an additional $621,763 being rolled over to CY2022 for awards to 519 eligible students early in the calendar year.

Calendar Year 2020:  Awards were distributed to students based on their Expected Family Contribution (EFC) and/or special circumstances.  Students with an EFC between $0 and the Pell Eligibility EFC were awarded $1,100; those with special circumstances and an EFC up to $20,000 were awarded $900; and those with special circumstances and an EFC exceeding $20,000 were awarded $700.  Similarly, three students with special circumstances, but without EFCs, were awarded funds as well ($700 or $1,100).

Note:  The 319 award recipients represent an unduplicated headcount.

Calendar Year 2021: In the quarter ending on March 31, 2021, awards were distributed to students based on their Expected Family Contribution (EFC) and/or special circumstances.  Students with an EFC between $0 and the Pell Eligibility EFC were awarded either $1,100, $2,500, $3,125, $3,600, or $3,750 (average of $2,637) ; those with special circumstances and an EFC up to $20,000 were awarded either $900, $1,100, $1,500, $1,875, or $2,400 (average of $1,522); and those with special circumstances and an EFC exceeding $20,000 were awarded $700 or $1,000 (average of $829).  All recipients in the quarter ending December 31, 2021 were awarded $2,000 regardless of their EFC category.

Note:  The 672 award recipients represent a duplicated headcount.

Calendar Year 2022:  All recipients in the quarter ending March 31, 2022 were awarded $1,200 regardless of their EFC category.

Note:  The 519 award recipients represent an unduplicated headcount.

Calendar Years 2020 – 2022           

Note:  The 1,510 award recipients represent a duplicated headcount.