Federal CARES Act Funding

Drexel University was awarded $6,589,634 from the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act to assist students with expenses related to disruptions of their educations due to the COVID-19 outbreak, such as unanticipated travel, additional technology requirements, or other needs related to an emergency situation.

Federal Emergency Aid Grant Reporting

Each institution receiving CARES Act funds is directed to comply with Section 18004(e) of the CARES Act and submit an initial report (the “30-day Fund Report”) to the Secretary thirty (30) days from the date of the institution's Certification and Agreement to the Department. The '30-Day Fund Report' information follows:

  1. Drexel University signed and returned to the Department the Certification and Agreement on May 4, 2020. The University intends to use no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
  2. The University received $6,589,634 on May 12, 2020, from the Department pursuant to the institution's Certification and Agreement for Emergency Financial Aid Grants to Students.
  3. The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of December 31, 2020 is $6,589,616.12.
  4. 11,205 students enrolled in the Spring 2020 semester or quarter were eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
  5. As of December 31, 2020, 5,309 students have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.
  6. The University will award CARES Act funds to eligible students who submit an application to confirm and attest to having been impacted by Covid-19. Eligible students who receive a Pell Grant or demonstrate need above $20,000 will receive $1,000, while all other eligible students with demonstrated need between $15,000 and $20,000 will receive $500.
  7. Eligible students will be notified of fund availability via email and a DrexelOne Announcement.
  8. More details regarding the University's receipt and distribution of CARES Act Funding can be viewed in the below reports:

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