CARES Act reporting
The information presented below details Geisinger Commonwealth School of Medicine’s (GCSOM) funding allocation received under 18004(a)(1) of the CARES Act. The update of Oct. 6, 2020 is the final report and this update covers all of the HEERF funds received under Section 18004(a)(1) Student Portion Funds. GCSOM was originally required to make available to the public in a location and format easy to access and understand within 30 days after the date when the institution first received its allocation under 18004(a)(1) and then update it every 45 days thereafter. GCSOM originally posted a report on June 8, 2020, and posted an update on July 6, 2020. There have been no changes necessary since that date. Effective Aug. 28, 2020, GCSOM will be required to update the below information within 10 days after the end of each calendar quarter (Sept. 30, Dec. 31, March 31, June 30) if there are any changes. As of July 6, 2020, we do not anticipate that any additional direct student payments will be disbursed and the information below is final information. However, if additional disclosures or information is required it will be completed on a timely basis.
- An acknowledgement that the institution signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, or intends to use, no less than 50 percent of the funds received under Section 18004 (a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students.
Anna Arvay, CPA, MBA, vice president for finance & administration and chief financial officer of Geisinger Commonwealth School of Medicine (GCSOM), acknowledges that the institution (GCSOM) has signed and returned the Recipient’s Funding Certification and Agreement regarding emergency financial aid grants to students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act to the U.S. Department of Education. Further, the institution (GCSOM) has assured the Department of Education that more than 50 percent of the funds are being or will be provided to students as Emergency Financial Aid Grants. In fact, GCSOM has or will disburse 75 percent of funds to students as Emergency Financial Aid Grants.
- The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.
GCSOM has received $160,135 under section 18004(a)(1) of the Cares Act. The total required to be provided to students in the form of emergency financial aid grants is $80,018. However, Geisinger Commonwealth School of Medicine disbursed not only the $80,018 required, but also disbursed an additional $40,596 from its institutional portion of the grant. In total, $120,614 has been disbursed to eligible GCSOM students in the form of Emergency Financial Aid Grants. This represents 75% of the total GCSOM received under Section 18004(a)(1) of the Cares Act.
- The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of submission (i.e., as of the initial report and every calendar quarter thereafter).
As of Aug. 28, 2020, GCSOM has distributed all of the funding approved and the total grants processed was to 128 students for a total of $120,614. The average grant provided to students was $942.30 and the highest grant was $1,000.
- The estimated total number of students at the institution eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act.
Per the criteria below, the number of students eligible to apply equals 483 students. GCSOM enrolls 546 students.
- The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.
As of Aug. 28 2020, GCSOM has processed grants for 128 students.
- The method(s) used by the institution to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act.
Geisinger Commonwealth School of Medicine considers any student enrolled and in good standing as of March 16, 2020 and who has a complete FAFSA on record as eligible to apply for an Emergency Financial Aid Grant. GCSOM excluded only those students pursuing a master’s degree completely online. Students were asked to submit an application indicating the dollar amount they were requesting in assistance. Eligible students who applied for $999.00 or less were funded the amount indicated on their application. Eligible students who applied for $1,000.00 or more were funded at the maximum eligibility amount of $1,000.00 until all the funding was depleted.
- Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants.
See comprehensive communications plan by clicking here.
Click here to view the GCSOM Cares Act institutional funding quarterly report.