Knox Distributes Emergency Financial Aid Grants To Students
Knox College will distribute $664,035 provided by the Coronavirus Aid, Relief and Economic Security (CARES) Act to Knox students who have demonstrated need and are facing significant financial challenges due to the ongoing COVID-19 pandemic.
Consistent with the guidelines from the U.S. Department of Education, Knox will distribute these Emergency Financial Aid Grants to federal financial aid applicants with the highest levels of demonstrated financial need. Almost 600 students enrolled at Knox during spring term meet the eligibility criteria for federal financial aid and will receive payments ranging from $500 to $1,200. Students with higher financial need, including Pell Grant recipients, will receive the larger payments. Knox plans to distribute these funds to eligible students during the week of May 25.
“This funding is meant to provide a helping hand to students who are experiencing financial hardships,” said Knox College President Teresa Amott.
The U.S. Department of Education does not allow CARES Act funds to be used for international students or undocumented students, which account for 20% of the Knox student population. Knox has established a COVID-19 Relief Fund where all students, including those not eligible for CARES Act funds, can receive emergency, need-based financial support. To date, more than $90,000 has been donated to the fund by alumni, parents, employees, and friends of the College and 347 applications for emergency assistance have been approved and funded since the fund was established in March.
In addition to financial support provided through CARES Act funding, the College refunded more than $3 million for the cost of room and board to nearly 1,000 students not living on campus when spring term moved to a virtual environment in March.
The $664,035 distribution designated for student emergency relief is half of the total $1,327,070 million in CARES Act funding being allocated to Knox College. Senior Staff are currently determining the best use of the remainder of these funds to support student education.
Published on May 14, 2020