Financial Aid Updates due to COVID-19
This page includes information related to CARES Act reporting, and Financial Aid regulatory updates due to COVID-19
- QUARTERLY BUDGET & EXPENDITURE REPORTING UNDER CARES ACT (12/31/20): The quarterly budget and expenditure reports under the CARES Act will be provided here on a quarterly basis. Please click the link(s) below to access a PDF of the report.
- CARES ACT REPORTING UPDATE (12/31/2020): The Department of Education requires that schools receiving CARES Act Funding publish on their website information about Higher Education Emergency Relief Fund (HEERF) allocations. These reports are included below.
- DISTRIBUTION OF CARES ACT FUNDING UPDATE (6/18/2020): We recognize that many students are experiencing unexpected financial hardships due to the COVID 19 crisis. The Coronavirus Relief and Economic Security (CARES) Act was passed by Congress and signed into law on March 27, 2020. MSOE has received funding from the CARES Act for direct emergency grant payments to students whose lives have been disrupted by the COVID-19 pandemic. The goal is to get these grants distributed to students as quickly as possible and will be utilizing the 2019-2020 Free Application for Federal Student Aid (FAFSA) to identify eligible students. Undergraduate Title IV eligible student awards, who were enrolled during the spring term, were prioritized based on students who have the greatest need as determined by the Expected Family Contribution from filing the FAFSA. All eligible undergraduate students funds will be directly deposited to their bank account or sent via mail if direct deposit is not set up with MSOE. The grant is intended for academically related expenses incurred due to COVID-19 from the disruption of campus operations. Some examples include expenses related to food, housing, course materials, technology, healthcare, and childcare. The receipt of these funds will serve as verification that the student has financial needs in one or more of these areas. If you have additional questions about the CARES Act or this Emergency Grant, please visit MSOE’s financial aid website or contact the Financial Aid Office at firstname.lastname@example.org or by calling 414-277-7223.
- INFORMATION ABOUT STUDENT LOANS: The U.S. Department of Education has also put out some helpful information on Financial Aid for Students, Parents, and Borrowers. Please visit their page here to learn more about forebearance, interest accrual, and other implications of federal student aid.
- COVID-19 SCAMS AND FINANCIAL AID: The National Association of Student Financial Aid Administrators has noted that there is a rise of consumer protection complaints and scams related to debt relief and COVID-19. Please be wary of any communication regarding debt relief, and please review any information regarding loans or student debt relief at official sources. You can view their news release here.
- NOTARIZED DOCUMENTS FOR FINANCIAL AID: Students who are unable to turn in person or get notarized the Identity and Educational Purpose Statement, or the Citizenship Affidavit, are encouraged to reach out to our office at the information below. We have alternative steps to assist you in getting this turned in promptly and without delay.
- SATISFACTORY ACADEMIC PROGRESS POLICY UPDATE: MSOE's Financial Aid Office has made accommodations in regards to the Satisfactory Academic Progress Policy in light of Pass/Fail coursework, for students to maintain their eligibility for Financial Aid. Please review the update and our Satisfactory Academic Progress Policy here.
If you have any questions, or wish to reach out to us, please visit our Financial Aid page here for further contact information and options presented during COVID-19.