The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress and signed by President Trump on March 27, 2020, established the Higher Education Emergency Relief Fund I (HEERF I). This fund provides for emergency financial aid grants to be made directly to students to assist with disruptions to education as a result of the COVID-19 pandemic.
What are the eligibility requirements for determining whether I qualify for funding under the CARES Act?
The Coronavirus Aid, Relief, and Economic Security (CARES) Act funding is no longer available. Please see the information in the above listed CARES Act Report and Disclosure for how this funding was allocated and the methods of award.
What if I do not meet the eligibility requirements? Is there other emergency aid besides funding from the CARES Act?
There is a limited amount of other sources of emergency aid available. We will review all applications and assist as much as possible. To apply for emergency aid, you will first need to complete the Free Application for Federal Student Aid (FAFSA). Eligibility for emergency aid will only be reviewed after consideration of all other aid for which you may qualify (i.e. grants, scholarships, loans, etc.).
If the financial aid you are offered does not cover your emergency expenses, you may submit an Emergency Aid Application or contact our office to discuss options.
If I qualify for emergency aid funds, either provided by the CARES Act or from institutional sources, how will I receive it?
If you qualify for an Emergency Aid Grant from funding provided by the CARES Act, the total amount will be refunded directly to you.
If you do not qualify for an Emergency Aid Grant from funding provided by the CARES Act, but qualify for emergency aid from another source, it should be refunded in a similar manner; however, it will be applied to any past due balance first.
How soon will I receive emergency funds if I qualify?We are working diligently to get these funds distributed as soon as possible. We anticipate a disbursement within 5 to 7 days of an application being approved or grant being offered.
Direct deposit is currently the only method for refunds available. Please find information regarding steps to view a refund, timing of refunds, and how to receive your refund on Student Business Services' Refunds webpage.
Are Emergency Aid Grants taxable?According to IRS FAQs, "Emergency financial aid grants under the CARES Act for unexpected expenses, unmet financial need, or expenses related to the disruption of campus operations on account of the COVID-19 pandemic, such as unexpected expenses for food, housing, course materials, technology, health care, or childcare, are qualified disaster relief payments under section 139 of the Internal Revenue Code. This grant is not includible in your gross income."
Emergency Aid Grants received from institutional sources may be considered taxable income. Please consult with your tax preparer.
I see on the emergency aid application I can select past due balance as a need category. Am I able to receive funding from the CARES Act to help with a past due balance owed to Texas A&M?
No. The CARES Act requires that funds be provided directly to students and that no portion be used to pay an outstanding balance.
If you are needing assistance with a past due balance, there are other sources of emergency aid, and we will review your eligibility based on need and funding available.
If I receive emergency aid, will it negatively impact my existing financial aid package?An Emergency Aid Grant provided by the CARES Act will not impact a student’s financial aid package since the CARES Act funding is not categorized as financial aid.
An Emergency Aid Grant provided by institutional sources will only be considered after review of all currently offered and accepted financial aid. Emergency Aid Grants from institutional sources will not be awarded in place of other aid offered. For example, if you have been offered your maximum in financial aid eligibility based on your Cost of Attendance, we will not cancel one fund, such as a Federal Direct Student Loan, in order to offer an Emergency Aid Grant. We are offering emergency aid funds from institutional sources to only those students who show the greatest levels of financial need. Financial need is determined by the results of your FAFSA and after taking into consideration other aid for which you are eligible (i.e. grants, loans, scholarships, etc.).
Do I have to repay emergency funding from the CARES Act?Funding provided by the CARES Act is considered a grant, so unlike a loan there is no expectation that it be repaid. However, one of the criteria for receiving an Emergency Aid Grant provided by the CARES Act is that you are enrolled in the semester for which the grant is offered. If after receiving an Emergency Aid Grant your enrollment plans change, we may need to re-review your eligibility for these funds.