College students can apply for emergency grants through schools
HOUSTON - Most college students didn't qualify for stimulus checks even though they were hurt financially when they suddenly had to move off-campus or lost a job during the shutdown. Many students don't know the federal Coronavirus Aid, Relief, and Economic Security Act, or C.A.R.E.S. Act, earmarked billions of dollars to help them, and that some colleges haven't dispursed all the money yet.
The C.A.R.E.S. Act designated about $6 billion for colleges and universities to give students emergency grants for rent, food, and other bills or to increase their financial aid. But due to changing guidelines, many schools across the country haven't distributed all of the funds yet.
We've heard from college students who say they were evicted from apartments because they couldn't pay the rent. Many don't know there may be money to help them.
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"As of July first, we surveyed a few of the top 100 schools in the U.S. which account for $1 billion of the first $6 billion dollars to be dispursed to students, and more than 40% of those funds have yet to be distributed," said Charlie Javice, founder of Frank (https://withfrank.org/), a website that helps students apply for financial aid.
Frank partnered with textbook website CHEGG, to help students apply, for free, for these emergency grants.
"We then submit a letter to the school requesting funds if they have yet to be dispursed and we instruct the student to follow instructions on the school financial aid website," explained Javice.
Javice says they've helped 150,000 students. She says aid ranges from $500 to $5,000, with most awards between $800 and $2,000. Online students are not eligible.
If a student or parent has lost a job, money is also designated to increase their financial aid package.
"You're not making as much money and that should adjust your expected family contribution, which means the amount of aid the government awards you and your school can give you should increase," said Javice.
We asked local colleges if they are dispursing these funds.
The University of Houston says they have dispersed $15 million of the $18 million the school received, and are processing thousands of applications for the rest. In May, UH also relaunched the Cougar Emergency Fund, covering students not eligible to file a FAFSA or for expenses not authorized under the CARES Act.
Rice University reports that it has distributed $1,858,600 of CARES Act funds to 2,775 undergraduate and graduate students and provided further details here.