Due to the coronavirus pandemic, many college students have had to pick up extra hours at work, revise their budgets and really take a look at their ways of life.
According to a poll conducted by National Public Radio, 50% of Americans have been financially impacted by COVID-19. The federal government began providing grants to schools all across the country under the moniker of CARES Act. The CARES Act is the Coronavirus Aid, Relief and Economic Security Act.
According to Missouri State University’s CARES Act Resources, the CARES Act is an economic aid used to help students who were exceptionally affected financially but the coronavirus pandemic.
The CARES Act has already gone through Phase 1, issuing some students $250. This week it issued Phase 2.
Eligibility applies to undergraduate students who require any kind of financial aid. Additionally, they must be enrolled in primarily seated classes. According to the CARES Act website, students must be, “a degree-seeking student enrolled in one or more credit hours for the Spring 2020 term.”
According to the Missouri State website, those who do not qualify for the CARES Act funds are:
Those who no longer meet the Satisfactory Academic Progress standards. This means students should attempt a minimum of 24 credit hours in a school year and maintain at least an overall 2.00 GPA. Additionally, graduate students should maintain an overall GPA over the course of nine credit hours.
Guidance issued by the Department of Education states Deferred Action for Childhood Arrivals (DACA) students will not receive money. CARES Act is only available for Title IV eligible non-citizens, permanent U.S. residents and U.S. citizens.
Requests for money for Phase 2 began on May 4. According to the Missouri State website, those who are eligible for Phase 2 can go to their my.MissouriState.edu account and submit an application found under their individual ‘My Financial Aid’ tab.
Students will receive an email informing them that the money will be put into the student’s direct deposit in two to three days, or the students will receive a check.
“I just got the email that my money will be deposited in the next two-three days,” said Manda Eigenmann, second year graduate student pursuing a master of arts in writing. “No issues for me so far; I’m just still mad that graduate students were excluded from the first phase.”
According to another Missouri State student, the process seems to be equally as fluid.
“It was a pretty simple process,” said Hailee Randall, senior secondary English education major. “I applied for the thousand and received an email last week, then saw the $1,000 in my MSU account this week."
Kay Moore, an accounts receivable technician at Missouri State, said every student who received the $1,000 should receive a letter. If they do not receive a letter by June 5, they should contact Accounts Receivable at AccountsReceivable@missouristate.edu.
Students can find more information on the Missouri State website at https://www.missouristate.edu/financialaid/cares-act.htm