American Rescue Plan Act 2021 (ARP)

Each institution receiving HEERF III funds is directed to comply with Federal regulations and submit reports outlining the distribution of these funds. At this time, Peirce College has begun distributing funds to students, prioritizing the distribution of funds to students who demonstrate exceptional financial need in accordance with the Department of Education’s guidance. This site will be updated appropriately as guidance is received and funds are distributed.

• The College has received a total of $2,150,619 from all HEERF grants. The College signed and returned the Certification and Agreement for Emergency Financial Aid Grants to Students to the Department of Education.
  • HEERF I (CARES Act) $305,695 on May 28, 2020
  • HEERF II (CRRSAA) $305,695 on January 18, 2021
  • HEERF III (American Rescue Plan) $1,539,229 on May 20, 2021
• The total amount of Emergency Financial Aid Grants distributed to students from ARP between January 1, 2022 and March 31, 2022 was $720,000.
• 1012 enrolled students were eligible to receive Emergency Financial Aid Grants under ARP during the quarter.
• 720 students received an Emergency Financial Aid Grant under ARP during the quarter.
• Grants of $1000 were automatically awarded to students with exceptional need whose whose FASFA indicated an Effective Family Contribution (EFC) of 0-100.
• Next, grants of $1000 were awarded to students who completed an online application and met the stated requirements.
• After seeking approval from the U.S. Department of Education, Peirce College increased the amount of each student’s grant to $2000. Students who had already received a HEERF III (ARP) grant at the $1000 level received an additional $1000 on March 31, 2022
• Eligible students were notified of fund availability via email and received the funds through the BankMobile refund distribution system.
• More details regarding the College’s receipt and distribution of ARP Act Funding can be found here.

Published: April 4, 2022