ED RELEASES FAQ ON HEERF FOR STUDENTS

Colleges aren’t the only ones with questions about the Higher Education Emergency Relief Fund, students have questions too. Last month, ED released a (very) brief Frequently Asked Questions (FAQ) with questions from students about Emergency Relief Student Grants.

  1. Do I have to repay the emergency financial aid grant I received from my university through the CARES Act?

No.  The funds provided by the CARES Act are grants, so they do not need to be repaid.

  1. I am a student who received an emergency financial aid grant from my university through the CARES Act. Is this grant includible in my gross income?

No. According to the Internal Revenue Service, “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.”   For more information please visit: https://www.irs.gov/newsroom/faqs-higher-educationemergency-relief-fund-and-emergency-financial-aid-grants-under-the-cares-act.

  1. What can emergency financial aid grants provided by the CARES Act be used for?

Emergency financial aid grants to students can be used for expenses related to the disruption of campus operations due to coronavirus (including eligible expenses under a student’s cost of attendance, such as food, housing, course materials, technology, health care, and child care). Please click here for more information about what is included in a student’s cost of attendance.