Neumann University will distribute $457,200 of CARES Act funding to 1,353 students in June.

The money is being used to help students reduce educational costs, providing financial assistance, according to a letter from Neumann president Dr. Chris Domes sent to eligible students in May.

In March, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide emergency assistance for individuals, families, and businesses affected by the 2020 coronavirus pandemic.

A portion of this funding was earmarked for those college students who are eligible for federal financial aid.

According to federal guidelines, the money is meant to help offset part of the expenses for food, housing, course materials, technology, health care, or child care that students may have incurred because of coronavirus or the public health measures that have been taken to slow its spread.

“These grants are awarded to help you address some of the financial hardship that you are experiencing and to allow you to remain enrolled at Neumann University,” Dr. Domes added.

The university received the funding in May and, according to CARES Act stipulations, has a full year to distribute the money to eligible students.

“We acted quickly,” Dr. Domes explained, “because some of our students and their families need support immediately.”

During the last two months, Neumann has also instituted other measures to address the financial impact of the pandemic.

The university has reduced tuition for summer classes, frozen tuition for fall 2020 at 2019 levels, and established two emergency funds to help students in financial distress caused by COVID-19.

The CARES Act funding will be sent to students, either via direct deposit or a mailed check, by the end of June.