HEERF III—American Rescue Plan (ARP): HEERF III-ARP provided The New School with $14.2 million—$7,191,689 of which supports students and $7,169,430 of which was designated for institutional support. A university advisory group composed of students from the Student Senate and personnel from the offices of Financial Aid, Student Accounts, Student Advocacy, Admissions, Finance, and the Provost convened to determine criteria and priorities for the distribution of the student funds. This cross-university advisory group was charged with identifying the criteria for distributing the funds to students. The university shared information about the process and distribution of the funds in November.
As we communicated at that time, $1.3 million was reserved to assist students in the spring 2022 semester. The advisory group prioritized grants for students who experienced financial hardship over the past year. Students eligible for Pell Grants for the spring 2022 semester received grants in the amount of $1,100.
Recipients of HEERF III funding for the first quarter of 2022 were all enrolled Pell-eligible students. There students received the funding in the total amount of $1,155,689. This amount is equal to the total HEERF III disbursement for the period ending March 31, 2022.
The $7,169,430 designated for institutional support from HEERF III was intended to assist the university in covering expenses related to lost revenues associated with the pandemic. In fall 2021, $5,361,236 of the total amount was used to erase tuition and fee balances for degree-seeking students from the spring, summer, and fall 2020 semesters. The remaining $1,808,194 million was used to defray the significant costs associated with the safe reopening of campus for the fall 2021 semester. These costs exceeded available federal funds and include but are not limited to expenses for COVID-19 testing, HVAC (ventilation) upgrades, personal protective equipment, and the delivery of virtual education.
For this first quarter of 2022, HEERF II disbursements used for emergency appeals totaled $103,440. At the time of the March 31, 2022, HEERF reporting period, there was a HEERF II balance of $338,148 remaining. This balance will be used for student emergency appeals until the funds are depleted in their entirety.
As of March 31, 2022, The New School was awarded a total of $12,188,375 for student emergency funds. This includes CARES ACT (HEERF I) student funds ($2,498,343), HEERF II student funds ($2,498,343), and HEERF III student funds ($7,191,689). As of March 31, 2022, $11,850,227 has been distributed to students for emergency financial aid grants. A total of $500,000 was allocated from HEERF II to the Emergency Appeal Fund, for the use of student emergency appeals related to housing, food insecurity, and COVID-related expenses. Approximately half of that fund remains.
In addition, The New School has received a total of $15,167,595 for institutional funds as of March 31, 2022. This includes CARES ACT (HEERF I) institutional funds ($2,498,343), HEERF II institutional funds ($5,499,822), and HEERF III institutional Funds ($7,169,430). As of March 31, 2022, $15,167,595 has been used to cover room and board refunds to students ($7,998,165), write off student account balances ($5,361,236), and reimburse the university for revenues lost due to the pandemic ($1,808,194).