ShareIn late March, Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act, which was signed in to law on March 27th. As part of the Act, funding was included to assist the higher education community with expenses directly related to the COVID-19 pandemic and the disruption of campus operations. Colby submitted the required Certificate and Agreement and was allocated $1,244,996, 50% of which must be awarded to eligible Title IV students with specific costs caused by the shift to remote learning. The funding was officially awarded to the College on April 27, 2020. The College sought federal guidance and determined that eligible students whose family contribution of $20,000 or less with allowable expenses would be invited to apply for up to $1200 each. Student Financial Services emailed 509 students June 4th with instructions to request emergency funds. 333 students responded to this first invitation. On June 22nd, Colby increased the family contribution limit to $50,000, emailing 417 students with instructions. As of June 30th, payment has been made to 449 eligible students for a total of $454,903. The College has received $454,903 as of June 30, 2020.