Loyola disperses funds via CARES Act income

A+Loyola+sign+sits+bathed+in+sunlight+outside+Marquette+Hall.

A Loyola sign sits bathed in sunlight outside Marquette Hall. Loyola will disperse nearly $1.5 million in grants from the federal CARES Act to students in need, according to Senior Vice President Sarah Kelly. Photo credit: Cristian Orellana

Gabriella Killett

Loyola University New Orleans plans to disperse grants to its neediest students from recent funding received from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Senior Vice President Dr. Sarah Kelly said in an email Tuesday.

The CARES Act funding requires at least half of the amount to be used in assisting students. Having received a total of about $3 million dollars, Loyola will distribute this funding to students with “the highest demonstrated need,” the email said.

The email also noted that all students who filed a Free Application for Federal Student Aid (FAFSA) for the academic year 2019-2020 with an Estimated Family Contribution (EFC) of less than $5,500 will receive a CARES Act grant of $900.

The remaining 17% of half of Loyola’s CARES Act funding will be distributed to students who have “incurred expenses as a result of COVID-19.” An online form is available for students to request funds, and a committee will review requests until the remaining balance is gone.

The university encourages questions via email at [email protected] or by phone at (504)-865-3337.