CARES Act Institutional Expenditures
LVC will post required quarterly expenditures here. Please visit here to view the first report.
Is LVC eligible for emergency relief funds to students through the CARES Act?
Yes. LVC signed and submitted the certification and agreement form to the United States Department of Education and will use 50 percent of the funds allocated for emergency financial aid grants to students.
How much did LVC receive through the CARES Act?
LVC received $1,442,705. This amount is based primarily on the number of full-time enrolled students who are eligible for the Federal Pell Grant. Fifty percent of these funds are mandated to be used as financial aid grants to students. As a result, a minimum amount of $721,353 will be awarded as direct grants to students.
Who is eligible to receive the grant?
Students who are or could be eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965, as amended (HEA), If a student has filed a Free Application for Federal Student Aid (FAFSA), then the student has demonstrated eligibility to participate in programs under Section 484 the HEA. Students who have not filed a FAFSA but who are eligible to file a FAFSA may also receive emergency financial aid grants. The criteria to participate in programs under Section 484 of the HEA include, but are not limited to the following: U.S. citizenship or eligible noncitizen; a valid Social Security number; registration with Selective Service (if the student is male); and a high school diploma, GED, or completion of high school in an approved homeschool setting
Students with a financial aid satisfactory academic progress status of satisfactory, warning or probation.
Students enrolled at LVC on or after March 13, 2020.
Students enrolled in at least one in-person class on or before March 13, 2020.
What if I did not file the FAFSA?
It is not too late.
- If you were enrolled during spring 2020, you must file the 2019-20 FAFSA. NOTE: If you have not yet applied for a grant, you may file the 2020-21 FAFSA to be eligible (the 2019-20 FAFSA is no longer available).
- If you were not enrolled during 2020, but are enrolled now, you must file the 2020-21 FASFA.
You should file as soon as possible at studentaid.gov/fafsa or on your mobile device using the MyStudentAid app. Once processed, go to https://portal.lvc.edu/mylvc/apps/relieffunds/index.aspx and log in to certify you experienced increased expenses and confirm your address. The deadline to apply is November 16, 2020.
How did LVC determine which students will receive emergency financial aid grants and how much will each student receive?
Based on guidance from the U.S. Department of Education, the number of eligible and potentially eligible students, and the allocation LVC received, a committee of staff from the financial aid and business offices developed a methodology that would allow the majority of students who experienced increased expenses to receive a grant. Grant amounts are based on the following factors: 1) degree status (undergraduate vs. graduate), 2) enrollment status (full-time or part-time), 3) financial need as determined by the expected family contribution (EFC) for undergraduate students.
Grants for fulltime undergraduate students will range from $125 to $1,000 (based on EFC).
|0-5,576 (Pell Eligible)||$1,000|
|60,793 and up||$125|
Grants for part-time undergraduate students will range from $100 to $500 (based on EFC).
|0-5,576 (Pell Eligible)||$500|
|60,793 and up||$100|
Grants for full-time graduate students will be $500.
Grants for part-time graduate students will be $250.
How do I apply for a grant?
Both students who are eligible to apply and those potentially eligible were sent an email with instructions. Go to this link https://portal.lvc.edu/mylvc/apps/relieffunds/index.aspx and log in to certify that you experienced increased expenses and confirm your address. Specifically, you must certify that you have increased expenses including at least one of the following: housing, food, technology, coursework, or health care due to the disruption of campus operations as a result of the coronavirus.
If I am eligible, when and how will I receive the grant?
After certifying you experienced increased expenses and confirming your address, you will receive the grant in two to three weeks. If your bank account information is on file with LVC, the funds will be direct deposited. Otherwise, you will receive a check in the mail. Most students will receive a check.
What is the deadline to receive a grant?
Funds will be awarded until they are exhausted on a first-come, first-served basis through November 16, 2020.
Do I have to pay back the grant?
No. Emergency financial aid grants through the CARES Act do not require repayment.
How many students and how much has been distributed to students?
As of February 28, 2021, $721,353 has been distributed to 1088 students. This information will be updated weekly as students certify they have expenses and LVC begins to disburse the relief funds.
What is 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, therefore, eligible to receive an emergency financial aid grant?
Approximately 2,036 undergraduate and graduate students are eligible.