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HEERF III
Higher Education Emergency Relief Fund III (HEERF III)
On 11 March 2021 President Biden signed the American Rescue Plan Act of 2021 (ARP) (Pub. L. 117-2). The ARP appropriated funds for the Higher Education Emergency Relief Fund (HEERF) and authorized the third source of funds in response to Coronavirus.
Like HEERF I and HEERF II, this law provides funds to the institution to offset expenses related to Coronavirus mitigation and to provide emergency financial grants to students. In total, VMI will receive $2,869,291 via HEERF III, of which 50% must be used for student grants. Combining HEERF I, II, and III, VMI has received a total of $5,567,687 to assist with the impacts of Coronavirus. During the quarter ending 31 December 2021, VMI will distribute $860,400 in emergency financial grants to cadets. This brings the total amount distributed directly to cadets to $2,025,746.
The purpose of the financial aid grants for students is to provide assistance toward any component of a student’s cost of attendance or emergency costs incurred since 13 March 2020, the date of the declaration of the national emergency.
Examples of emergency costs may include: “tuition, food, housing, health care (including mental health care) or childcare.”
As outlined in the HEERF guidance, students with exceptional need will be given priority, and awards will be made using existing FAFSA (Free Application for Federal Student Aid) data. VMI has committed $250,000 of the institute’s portion to add to the student aid amount for a total of $1,684,646.
1571 cadets were potentially eligible to receive funds during the Spring 2022 Term, and based on 2021-2022 FAFSA data, 820 cadets received an emergency financial grant totaling $824,320. The breakdown of the distribution is as follows:
Cadets with an EFC (Expected Family Contribution) of $5,846 and below received $2,275.
Cadets with an EFC between $5,847 and $10,000 received $1,260.
Cadet with an EFC between $10,001 and $20,000 received $600.
Cadets with an EFC between $20,001 and $50,000 received $200.
1626 cadets were potentially eligible to receive funds during the Fall 2021 Term, and based on 2021-2022 FAFSA data, 853 cadets received an emergency financial grant totaling $860,400. The breakdown of the distribution is as follows:
Cadets with an EFC (Expected Family Contribution) of $5,846 and below received $2,250.
Cadets with an EFC between $5,847 and $10,000 received $1,250.
Cadet with an EFC between $10,001 and $20,000 received $600.
Cadets with an EFC between $20,001 and $50,000 received $200.
During Fall 2021, VMI also shared that it would provide additional emergency financial grants in 2022.
September 30, 2022 Quarterly Budget and Expenditure Report HEERF Student and Institutional Funds
June 30, 2022 Quarterly Budget and Expenditure Report HEERF Student and Institutional Funds
Quarterly report for December 2021 - Quarter end
September 30, 2021 Quarterly Budget and Expenditure Reporting for HEERF I, II, and III (a) (1) Institutional portion - Revised report dated 17 November 2021
VMI acknowledges that the Certification and Agreement form was previously signed and returned and has used no less than the required amount of funds stipulated in the ARP Act to provide HEERF grants to students.