NASHVILLE, Tenn. (WTVF) — With many students facing financial challenges due to the COVID-19 pandemic, Vanderbilt University has said they will use $2.8 million they receive in federal aid to support those students in need.
The nearly $3 million is to be provided to Vanderbilt as part of the federal Coronavirus Aid, Relief and Economic Security (CARES) Act. The disbursement will come from the U.S. Department of Education.
"As the coronavirus pandemic continues, the hardships - financial and otherwise - presented by this global crisis continue to be felt deeply and widely by our students, their families and many others in the Vanderbilt community," said Interim Chancellor and Provost Susan Wente. "The well-being and success of our students remain our top priority, and we are committed to doing all that we can to support them during this incredibly challenging time."
Vanderbilt will provide funds to the students who have the greatest needs, defined as any with an expected family contribution of $10,000 or less. Undergraduate students must have received financial aid for the spring 2020 semester. Graduate or professional school students must have received federal student loans this spring.
It's expected about 20 percent of Vanderbilt's students will receive funds. Each student who is eligible will get $1,100.
Funds will be distributed to eligible students through the typical process on Student Accounts over the coming days.