HEERF Payment Details

 

Colby College

HEERF Award Summary

As of March 31, 2021

 

HEERF I Award Spent Remaining
Student $622,498 $458,673 $163,825
Institutional $622,498 $454,903 $167,595
Total $1,244,996 $913,576 $331,420

 

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 (included students who had not responded to prior invitations) with instructions. Colby sent notice of eligibility to 748 students in total and 455 of those students requested and received $458,673 in funding through August 10, 2020.

 

HEERF II Award Carryforward HEERF I Total Available
Student $622,498 $163,825 $786,323
Institutional $1,181,218 $167,595 $1,348,813
Total $1,803,716 $331,420 $2,135,136

 

Colby made $1,000 grant awards to 788 students with Colby Grant eligibility during March 2021 at a total cost of $788,000.  Colby used $1,677 in institutional funds to augment the remaining student funds.  As of March 31, 2021, all $1,244,996 of student awards from HEERF I and HEERF II have been paid out and an additional $1,677 in institutional funds were awarded as student grants, for a total of $1,246,673.

 

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Quarterly Budget and Expenditure Reporting – 03.31.21