Coronavirus Aid, Relief and Economic Security Act (CARES Act)

The federally funded CARES Act provides financial assistance to higher education institutions, as well as students. A total of $7,038,180 million was awarded to New Mexico State University for emergency financial aid grants to students for things like course materials, technology, food, housing, health care and childcare costs as a result of the disruption caused by COVID-19. A total of $3,450,650 million has been awarded to date. 

Following the guidance of the Department of Education all the Title IV eligible students who were not taking all online classes were identified.  The Federal Government based the majority of the allocation formula on lower income students and NMSU did the same and ensure the focus was on lower income students.  79% of the funds were allocated to students with EFC of 0-5200 and 20% was allocated to students with EFC greater than 5200.  The lower EFC students are scheduled to receive $500 while the higher EFC students will receive 450.  

 

Estimated Number of Eligible Students at NMSU

14,576

Number of Students who have recieved Emergency Aid Grants

7,079

 

 

Last Updated: 07/10/2020

A total of $7,038,179 Million was awarded to New Mexico State University for costs associated with significant changes to the delivery of instruction due to COVID-19. Five major categories were identified based on guidance form the Department of Education; Student Support, Remote Learning Expansion, IT Capacity Expansion, Training for changes in Delivery of Instruction and Sanitization.


Budget Cares Act - Institutional $7,038,179
Student Support $3,206,688.53
Remote Learning Expansion $112,973.00
IT Capacity Expansion $43,692.11
Training for changes in Instruction Delivery $2,862.56
Sanitization $146,460.61
Total Expenses through 6/30/20 $3,512,676.81


As needs are identified by departments the appropriate Business Manager will review requests and initiate the expenditures. Sponsored Projects Accounting will conduct a final compliance review to determine allowable expenses.

Cares MSI Funding
Budget Cares MSI $1,043,855.00
Total Expenditures MSI $35,498.62