The following information is provided by Reed College as required by the Department of Education in order to comply with the reporting requirements under the CARES Act.
As required by the United States Department of Education, this page is meant to provide public information about Reed's participation in the Coronavirus Aid Relief and Economic Security Act (CARES Act), and specifically the portion of the CARES Act that pertains to the Higher Education Emergency Relief Fund (HEERF). The Department of Education has directed us to supply the following information:
1. An acknowledgement that Reed College signed and returned to the Department of Education the Certification and Agreement and assurance that Reed has, or 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:
On April 16, 2020 Reed College signed and returned to the U.S. Department of Education the Certification and Agreement and the assurance that the institution has used, or intends to us, no less than 50 percent of the funds received under Section 18804(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students. In addition, Reed has provided, and will continue to provide, institutional funds to students (to students who are not eligible for CARES Act funds, for expenses not covered by the CARES Act, and when CARES Act funds are exhausted) through Reed's Emergency Grant Program.
2. The total amount of funds that Reed College has received from the Department of Education pursuant to the institution's Certification and Agreement for Emergency Financial Aid Grants to students under the CARES Act:
Reed's total HEERF allocation is $842,657. Of that amount $421,329 was disbursed directly to 746 students in the form of emergency aid grants. The remaining $421,328 was used to relieve pandemic related expenses incurred by the college.
3. The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of submission (i.e., as of the 30- or 45-day report, and quarterly thereafter):
- May 27, 2020 was $190,750
- June 16, 2020 was $289,110
- July 31, 2020 was $296,610
- September 14, 2020 was $301,916
- October 29, 2020 was $305,696
- December 11, 2020 was $306,824
- January 26, 2021 was $307,014
- March 10, 2021 was $310,413
4. The estimated total number of students at the institution eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to recevie Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act:
Based on the number of students who completed a FAFSA in 2019-2020 and who have not yet graduated from Reed, an estimated 744 students may be eligible to receive HEERF funding. Reed does not intend to distribute funds to every federally eligible student. Instead, we will target delivery to students with the highest levels of financial aid as described below.
5. The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act:
- May 27, 2020 was 355
- June 16, 2020 was 557
- July 31, 2020 was 572
- September 14, 2020 was 578
- October 29, 2020 was 580
- December 11, 2020 was 580
- January 26, 2021 was 580
- March 10, 2021 was 581
6. The method(s) used by the institution to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act:
Reed College has received funding through the Higher Education Emergency Relief Fund (HEERF) authorized by the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. This funding was used to provide direct emergency payments to students with expenses related to the disruption of campus operations due to the coronavirus pandemic. Eligible expenses include (food; housing, e.g. having to move off campus when dormitories closed; books and course materials; technology-related expenses, e.g. having to purchase a computer or internet service when courses moved online; health care; childcare; transportation, e.g. having to fly home because of campus closure or having to return from study abroad when a program was canceled).
Eligibility for this funding is limited to students who
- are eligible to receive Title IV federal aid, which is determined through completion of the FAFSA, and
- were enrolled on or after March 15, 2020. Priority will be given to students with the highest financial need.
Reed College utilized the following methodology for distribution of funds for Emergency Financial Grants received under Section 18004(a)(1) of the CARES Act:
While many students have experienced some form of financial distress due to COVID-19 and its impact on campus operations, the Department of Education guidance recommends institutions prioritize students with the greatest financial need and to distribute funding as widely as possible.
To that end, funds were distributed to students using a tiered approach with our neediest students receiving more substantial awards.
The majority of the funds (85%) will be directed in the form of direct payment to:
- Federal Pell Grant recipients who will receive $700
- Need-based Reed Grant recipients who will receive $450.
The remainder of the funds (15%) will be available to students who meet the federal eligibility requirements but do not receive Federal Pell Grant funds or need-based Reed grant funds and have documented expenses related to the disruption of campus operations through an application process.
In addition, students who receive an automatic direct payment but have documented expenses in excess of the payment that have not already been covered by other resources may also apply for additional assistance through the Reed Emergency Fund application process. Due to limited funding, HEERF grants may not fully cover all incurred expenses. Funding via the application process is available on a first-come, first-served basis.
Students who meet the federal eligibility requirements but do not currently receive Federal Pell Grant funds or need-based Reed grant funds and have documented expenses related to the disruption of campus operations may apply for HEERF assistance through the Reed Emergency Fund application process.
Under the CARES Act, emergency financial aid grants for unexpected expenses related to the disruption of campus operations due to the coronavirus pandemic are considered qualified disaster relief payments under Section 139 of the Internal Revenue code and are not included in gross income for income tax purposes.
Note: students who do not meet the federal eligibility requirements (international and undocumented students) are not eligible for HEERF assistance, but those with documented expenses may apply for Reed funding through the Reed Emergency Fund application process.
7. Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants:
Reed College provided the following instructions, directions, and guidance to students concerning the Emergency Financial Aid Grants:
- Announcement to general student body
- Creation of HEERF-specific website
- Individual emails sent to students eligible for automatic payment with instructions on how to certify and acknowledge expenses were incurred
- Notification to students from Business Office when funds were deposited into student bank account or mailed