FDU to Receive $5 Million in Fed Stimulus Funds

By Justin Rimpi
Managing Editor

Last week, the United States Department of Education released how much money colleges and universities would be receiving in accordance with the $2 trillion stimulus package passed by Congress, and signed into law by President Donald J. Trump on March 27.

According to a database posted on the publication Inside Higher Ed, FDU will receive $5,771,203 in total allocation from the legislation with $2,885,602 being allocated to Minimum Allocation to be Awarded for Emergency Financial Aid Grants to Students.

This nearly $3 million is allotted to help FDU students that have been affected by COVID-19.

The funds are designated for the university and specific benefits to the metro campus and students are unclear. The Equinox has reached out to President Christopher Capuano’s office for additional detail.

According to the United States Department of Education website: “The CARES Act Higher Education Emergency Relief Fund-IHE/Student Aid provides funding to institutions to provide emergency financial aid grants to students whose lives have been disrupted, many of whom are facing financial challenges and struggling to make ends meet. Students cannot apply for assistance directly from the U.S. Department of Education but should contact their institutions for further information and guidance. Institutions have the responsibility of determining how grants will be distributed to students, how the amount of each student grant is calculated, and the development of any instructions or directions that are provided to students about the grant.”

The $5.7 million of relief should help decrease the financial hardships being experienced by FDU, and many of its students, due to the coronavirus pandemic crisis.

Other member schools of FDU’s Northeast Conference (NEC) will receive funds from the federal government to help bridge the gap for the school and students. The colleges include: 

Total Allocation Financial Aid to Students
Merrimack College $2,646,845 $1,323,423
Bryant University $2,160,764 $1,080,382
Central Connecticut State University $9,009,014 $4,504,507
St. Francis (PA) $1,409,610 $704,805
St. Francis (BKN) $2,673,260 $1,336,630
Robert Morris $3,326,878 $1,663,439
Wagner $1,488,258 $744,129
Sacred Heart $4,305,177 $2,152,589
Mount St. Mary’s $1,678,019 $839,010
Long Island University $7,007,826 $3.503,913

FDU was given the third-most money of all schools in the NEC. 

The Equinox will continue to report on how this money will be allocated to members of the FDU community in such a difficult time.