Federal Grant Funds to Higher Education for Coronavirus Relief
Letters from Antoinette P. McCorvey, Davidson College Vice President Finance & Administration, CFO, to the Assistant Secretary for Postsecondary Education, United States Department of Education
April 27, 2021 – Davidson College is once again grateful for the funds allocated to our students and the institution through the Higher Education Emergency Relief Fund II (HEERF II) grant program under the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA).
The amount allocated to Davidson was $1,743,286. We received notification through G5 on March 20, 2021 and the funds were made available on March 23, 2021. $610,206 of that grant is designated for students and $1,133,080 is designated for institutional funds.
The $610,206 in funding designated for students, in addition to $229,794 of the institutional funds, will be dispersed to students in the Fall of 2021 as follows:
- $840,000 -- These funds will be used to reduce the summer earnings expectation portion of the Expected Family Contribution (EFC) for enrolled and returning students who are PELL eligible or whose EFC is less than 25% of Davidson’s cost of attendance. An estimated 420 students will each receive $2,000 for the 2021-22 academic year.
During the 2020-21 academic year, the college has incurred approximately $7.4M in COVID testing expenses to date. Surveillance testing is a key tool in our efforts to control the spread of COVID. Therefore, the remaining institutional funds not allocated to students above, $903,286, will be utilized in the current fiscal year to fund a portion of COVID surveillance testing costs.
Thank you for your support of Davidson College’s students.