American Rescue Plan Student Aid

Note: This page is dedicated to the HEERF III funding established by the Coronavirus Response and Relief Supplemental Appropriations Act passed for the Spring 2021 semester. Past information on the CARES Act passed in Spring 2020 can be found HERE . Past information on the HEERF II funding can be found HERE

Pre-Authorized Funds and HEERF III Appeal Forms can be found HERE.

Pre-Authorized Funds:

The Higher Education Emergency Relief Fund (HEERF III) established by the Coronavirus Response and Relief Supplemental Appropriations Act is available to eligible students and will be distributed automatically to undergraduate and graduate students during the Pre-Authorized Funding period. AIC must have received an official 2021-2022 FAFSA to be considered eligible to receive pre-authorized HEERF III funds. Please see the awarding model below for how funds were distributed.

Questions about eligibility requirements? Please contact cares.act@aic.edu with all questions and concerns.

During the Pre-Authorized Funds distribution phase, HEERF III funding will be distributed to students who qualify. Students can either apply these funds DIRECTLY to their Student Account to reduce their balance or can request the funds as a direct payment via refund check.

Benefits of Applying HEERF III funds to your student Account:

Tax Benefits: Students who chose to have the funds applied directly to their student account may be able to use the payment to qualify for Education Benefits when the 2022 federal taxes are filed. The funds will be considered as a payment for the 2022 1098-T tax forms and families may qualify to apply for the Lifetime Learning Credit or the American Opportunity Credit.

Student Accounts Holds: If you choose to apply the HEERF III funds to your account:

  • Full-time (standard rate or professional rate) undergraduate students: Hold threshold will be increased from $2,500 to $5,000
  • Graduate/Doctorate students: Hold threshold will be increased from $1000 to $2000
  • Part-time undergraduate/nonstandard programs students: Hold threshold will be increased from $1,000 to $2,000

Students who request a direct payment will see the payment be posted to the student’s account and will be sent as a refund check. Checks will take 7-21 business days to process, and students will be emailed when the check has been issued.

AIC prioritized students with the greatest financial need by utilizing the student’s Expected Family Contribution (EFC) as well as undergraduate students who have exhausted all their Financial Aid options but still have an account balance of over $500. AIC is providing a larger amount of funding to students with the most need.

Awarding Model:

Undergraduates:

EFC Initial Award Amount
0 – 999 $700
1,000 – 2,499 $600
2,500 – 3,499 $500
3,500 – 5,845 $400
5,846 – 19,999 $300
20,000+ $0

Graduate/Doctoral

EFC Initial Award Amount
0 – 5,849 $500
5,850+ $0

Current Student Balance (Undergraduate students only):

Current Student Balance Initial Award Amount
0 – 499 $0
500 – 999 $250
1,000 – 1,749 $750
1,750 to 2,499 $1,000
2,500 to 3,499 $1,500
3,500 to 4,999 $1,750
5,000 to 7,499 $2,000
7,500 to 9,999 $2,250
10,000+ $2,500

To be considered eligible students must not have declined federal loans and must have maintained the minimum requirements of Satisfactory Academic Progress.

Students who receive HEERF III Pre-Authorized Funds, must accept the grant by completing THIS FORM.

Funds will not be disbursed until form is completed. Form must be completed by April 29, 2022.

Funds being dispersed to a Students Account will happen within 7-21 business days. Students requesting a check must cash the check within 90-days of issuance. Please note, it will take 7-21 business days to process the check. After 90-days, the check will be voided, and you will forfeit the funds allocated to you. For questions regarding your HEERF III funding, or for more information on the CARES Act please contact cares.act@aic.edu.

Appeals:

Eligibility: All students (undergraduate, graduate and doctoral) in attendance after the national emergency was declared in March 2020 may file an appeal. Students can file an appeal in order to help reduce their Student Account balance or request funds for personal costs as a result of the COVID-19 Pandemic.

Funding Criteria: Appeal decisions will be based on need criteria which include HEERF III eligibility, FAFSA based need and eligibility, current cost of attendance balances, and personal situations.

  • Colleges are required to prioritize funding for students with exceptional need.
    • Therefore, we may delay decisions on appeals on accounts with low need.
    • Please understand that AIC needs to prioritize the limited funding according to the HEERF II regulations and we may not be able to approve all appeals.

Benefits of Applying HEERF III funds to your student Account:

  • Tax Benefits: Students who chose to have the funds applied directly to their student account may be able to use the payment to qualify for Education Benefits when the 2022 federal taxes are filed. The funds will be considered as payment for the 2021 1098-T tax forms and families may qualify to apply for the Lifetime Learning Credit or the American Opportunity Credit.
  • Student Accounts Holds: If you choose to apply the HEERF II funds to your account:
    • Full-time (standard rate or professional rate) undergraduate students: Hold threshold will be increased from $2,500 to $5,000
    • Part-time undergraduate/nonstandard programs students: Hold threshold will be increased from $1,000 to $2,000
    • Graduate/Doctoral students: Hold threshold will be increased from $1,000 to $2.000
  • To submit an appeal, please click HERE.

Appeal Timeline:

Appeals will be reviewed on a rolling basis. Appeals are open until funds are exhausted. The CARES Team will try to respond within 3-weeks of submitting an appeal, please note appeal submissions will not result in an immediate outcome as the CARES Act Committee needs to review each appeal individually.

Form Submission: Form may only be submitted once.

Reports:

Quarterly reporting of the student and institutional portion of HEERF funding can be found HERE.

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