Section 18004(e) of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or the “Act”)), Pub. L. No. 116-136, 134 Stat. 281 (March 27, 2020), directs institutions receiving funds under Section 18004 of the Act to provide the information below in a format and location that is easily accessible to the public 30 days after the date when the institution received its allocation under 18004(a)(1) and updated every 45 days thereafter:
- Marquette University acknowledges that our institution signed and returned to the Department the Certification and Agreement on April 15, 2020. Marquette University has used, or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students. Marquette University's total allocation was $6,636,735 and Marquette will use $3,323,368 to go directly to students which is more than 50 percent.
- The total amount of funds that Marquette will receive or has received from the Department is $6,636,735 pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Student.
- The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of the 30 days after the date of submission is (as of May 15 2020) is $2,491,908. The planned amount of as of June 29, 2020 is $3,323,368.
- Marquette University has an estimated total number of 7,718 students at the institution eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
- The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act at Marquette University is 1,478 as of 5/8/2020. Marquette went out with 921 more grants after the 5/11/2020 application deadline for a total of 2,399 grants as of 5/15/2020.
- Marquette University allocated ~75% of the student portion of the funds to go evenly to Pell Recipients in the amount of $1,686. Other needy Title IV students who apply by the application deadline of May 11, 2020 will receive Emergency Financial Aid Grants. The amount they would receive under Section 18004(a)(1) of the CARES Act will be determined after that deadline.
- Marquette guided its eligible students to apply by May 11th, 2020 in order to be considered for the Emergency Financial Aid Grants if they haven't already received them.
In addition to the disclosures above, the IRS has released a list of frequently asked questions in regards to CARES act funds.