As part of HEERF III-American Rescue Plan (ARP), The New School received $14,361,119—$7,191,689 of which supports students and $7,169,430 was designated for institutional support. A university advisory group comprised of students from the Student Senate and personnel from financial aid, student accounts, student advocacy, admissions, finance, and the provost offices convened to determine criteria and priorities for the distribution of the student funds. This cross-university advisory group was charged with identifying the criteria for distributing the funds to students. The university shared information about the process and distribution of the funds in November.
As we communicated at that time, $1.3 million was reserved to assist students in the spring 2022 semester. The advisory group prioritized grants for students who experienced financial hardship over the past year. Pell Grant-eligible students for the spring 2022 semester each received a HEERF III grant in the amount of $1,100.
Recipients of HEERF III funding for the first quarter of 2022 were enrolled, Pell-eligible students. There were 1,049 students who received the funding in the total amount of $1,155,689.
The $7,169,430 designated for institutional support from HEERF III was intended to assist the university in covering expenses related to lost revenues associated with the pandemic. In Fall 2021, $5,361,236 of that total amount was used to erase tuition and fee balances for degree-seeking students from Spring, Summer, and Fall 2020 semesters. The remaining $1,808,194 was used to defray the significant costs associated with the safe reopening of campus for the Fall 2021 semester. These costs exceeded available federal funds and include, but are not limited to, COVID-19 testing, HVAC (ventilation) upgrades, personal protective equipment, and the delivery of virtual education.
For this second quarter of 2022, HEERF II disbursements used for emergency appeals totaled $169,305. At the time of the June 30, 2022, HEERF reporting period, there was $168,843 HEERF II balance remaining. This balance will be used for student emergency appeals until the funds are depleted in their entirety.
As of June 30, 2022, The New School was awarded a total of $12,188,375 for student emergency funds. This includes CARES Act (HEERF I) student funds ($2,498,343), HEERF II student funds ($2,498,343) and HEERF III student funds ($7,191,689). As of June 30, 2022, $12,019,532 has been distributed to students for emergency financial aid grants to students. $500,000 was allocated from HEERF II to the Emergency Appeal Fund, for the use of student emergency appeals related to housing, food insecurities and covid related expenses. A third of those funds remain.
In addition, The New School has received a total of $15,167,595 for institutional funds as of June 30, 2022. This includes CARES Act (HEERF I) institutional funds ($2,498,343), HEERF II institutional funds ($5,499,822), and HEERF III institutional Funds ($7,169,430). As of June 30, 2022, $15,167,595 has been used to cover room and board refunds to students ($7,998,165), write off student account balances ($5,361,236) and reimburse the university for lost revenues due to the pandemic, costs associated with COVID-19 protective equipment, and outreach costs to financial aid applicants ($1,808,194).
Review the Quarterly Budget and Expenditure Report for the quarter that ended on June 30, 2022.