The American Rescue Plan (ARP) Act of 2021 Fund Disclosure (HEERF III)
New York University (NYU) is providing this information as required by the Higher Education Emergency Relief Fund (HEERF). NYU will update this information no later than 10 days after the end of each calendar quarter (March 31*, June 30, September 30, December 31).
*Please note that because the reporting requirements were not made available by the U.S. Department of Education (ED) until May 2021, the deadline for Q1 reporting was extended to July 10, 2021.
The U.S. Congress passed the American Rescue Plan Act of 2021 (ARP) on March 11, 2021. This federal stimulus funding is the third act of federal relief in response to COVID-19, following the CARES Act (HEERF 1) and CRRSA (HEERF II). American Rescue Plan Act funding for higher education is known as HEERF III.
New York University acknowledges and confirms that we are a recipient of CARES Act funding, and of CRRSAA funding. Therefore, we will as an institution confirm our acceptance of the terms and conditions of HEERF III funding by beginning to draw down the funds. NYU will use no less than 50 percent of the total funds received under Section 2003 of the American Rescue Plan to provide Emergency Financial Aid Grants to students.
NYU is committed to awarding ARP/ Higher Education Emergency Relief Funds (HEERF III) funding in accordance with guidance provided by ED.
- Total ARP (HEERF III) Federal funds allocated to NYU: $66,992,365
- ARP (HEERF III) Available for Awards to Students: $33,503,952
- ARP (HEERF III) Institutional Funding (Disclosure): $33,488,413
- ARP funds disbursed to NYU students [as COVID 19 Relief Grant] through June 30, 2021 (cumulative): $32,243,028
- Awards disbursed to students (in Q2): $16,130,528
- Number of unique NYU students funded through ARP: 10,825
- The estimated total number of NYU students eligible receive emergency grants under Section 2003 of the ARP: 59,820 students
Methodology and Grant Amounts
Aligning with ARP guidance from ED, students with exceptional financial need were prioritized. Prior to the May 11, 2021 ED announcement, NYU used FAFSA application data to determine historical financial need in concert with current extraordinary need information from COVID-19 appeal applications that were submitted. Based on this, standard awards ranged between $500 and $5,000. In extraordinary circumstances, students may have received a total award exceeding the standard range.
After the May 11, 2021 ED announcement that authorized HEERF III funds for all students enrolled during the pandemic, regardless of Title IV eligibility, NYU determined extraordinary need using COVID-19 appeal applications only.
Emergency grants were given to students to be put towards any component of their cost of attendance and/or emergency costs that arise due to coronavirus, such as:
- health care (including mental)
- child care
Awards were made directly to students - either via direct deposit or via check.
Emergency Relief Funds should not be taxable income for the student. Please refer to the following IRS guidance.
Please direct any questions to Jason Crowe, Enrollment Management Director of Compliance at firstname.lastname@example.org