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CARES Act reporting

Accordingly, the following information must appear in a format and location that is easily accessible to the public 30 days after the date when the institution received its allocation under 18004(a)(1) and updated every 45 days thereafter: 
  1. 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.
  2. 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.
  3. 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 30-day Report and every 45 days thereafter). 
    As of June 12, 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.
  4. 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.
  5. 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 June 12, 2020, GCSOM has processed grants for 128 students.
  6. 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.
  7. Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants.
    See comprehensive communications plan by clicking here.