COVID-19 Emergency Grants for Students
Dear Students,
I write today, during an undeniably most difficult time, to share a bit of positive news, particularly for NJIT students and their families that are struggling as a result of the COVID-19 pandemic. On Thursday, April 9, the United States Department of Education (USDOE) announced the release of direct emergency grant funds for students who have experienced disruptions to their education as a result of COVID-19. These funds are for use in addressing basic student needs, as well as educational ones. Preliminary analysis indicates that $4,055,485 million will be available to NJIT students through the CARES 3 Act, for which we are extraordinarily grateful. Today, the hardworking staff of NJIT's Office of Student Financial Aid Service (OSFAS) is reviewing information from the USDOE and is preparing criteria, guidelines, forms and a Q&A according to the law for the awarding of funds upon receipt from the USDOE. A memo will be released next week from OSFAS with additional detail about how this can be achieved as expeditiously as possible.
As a second phase of the CARES 3 Act, colleges and universities also will receive funding to help offset a portion of the significant financial losses incurred due to the COVID-19 pandemic. For NJIT, the financial impact of COVID-19 is more than $16 million in Fiscal Year 2020 alone due to state appropriations being held in reserve; student refunds/credits for housing, dining, and parking fees; and revenue losses from events and other programs. The negative impact on Fiscal Year 2021, which begins on July 1, is not yet known but is expected to be extremely challenging. We are awaiting further details regarding the institutional funding available through the CARES 3 Act, but it appears that NJIT will receive approximately the same amount as allocated to our students. This aid clearly will not fill the financial gap that is being created by COVID-19, but the funding is greatly needed and appreciated.
I hope this news brings some measure of relief to those of you facing financial challenges that could disrupt your educational experience or that have done so already. NJIT’s primary focus during this time has been on the wellbeing of its students and enabling them to achieve an NJIT degree as well as the wellbeing of the faculty, staff and broader NJIT community. We will continue to maintain that focus and will do all we can to support you, the students, as we work through the challenges we face together. Thank you, and please be safe and well.
Sincerely,
NJIT President Joel S. Bloom
