CARES Act Disclosure information
October 30, 2020
John Brown University signed and returned to the Department of Education the Certification and Agreement for the CARES Act funding for higher education institutions. JBU will receive a total of $1,316,399 of which $658,170 is earmarked as Emergency Financial Aid Grants to students and the remaining $658,169 will be used to help JBU offset revenue lost from room and board refunds, which were made to students for the portion of the spring 2020 semester when students were required to leave campus due to risks associated with COVID-19. JBU is committed to use no less than 50 percent of the total funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to students. The first portion of the funds was available on the government portal on April 22 and the second portion was available on April 25; however, JBU did not immediately take possession of those funds as we first established the methodology of distribution to students.
As of July 1, 2020, JBU has distributed $658,169 to 861 students. After the distribution of funds through our application process, we distributed the remaining funds on a formula based on student financial need.