CARES Act

Find answers to the most frequently asked questions about the CARES Act.

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Why do I have to submit a FAFSA to be considered for CARES Act Emergency Grant Funding?

The CARES Act Emergency Grant funds for students were provided to colleges and universities and must be distributed in accordance with the guidelines provided by the U.S. Department of Education. One of the guidelines is that students must be eligible to file a FAFSA and participate in Title IV federal financial aid programs, and when a student completes the FAFSA, student federal student aid eligibility is automatically checked by the U.S. Department of Education.

How long does it take for the FAFSA to be processed and sent to Montco?

It usually takes approximately 3-5 business days for Montco to receive a student’s completed FAFSA.

How much will I receive?

The College received a limited amount of funds. Grant amounts will be determined based on the number of applications received and the specific needs presented in the application. We cannot guarantee that all applications submitted will be eligible for funding.

How do I receive the money?

Emergency grants will be processed through your Montco student account and, if you are enrolled in direct deposit, the funds will be deposited into the bank account on file. If you do not have direct deposit set up with the College, you will receive a refund check in the mail.

How do I set up direct deposit?

You can set up your direct deposit through the online Payment Center. Log in to MyMC3 and select Finances > Access My Payment Center. Follow the prompts for your refund delivery preference selection.

What if I owe money to Montco for tuition or other expenses?

The full amount of the emergency grants will be given directly to you, and will not pay outstanding balances owed. Any outstanding balance owed to Montco will remain your responsibility.

Will the emergency grant reduce my financial aid?

No. The CARES Act emergency grant will not impact your financial aid eligibility.

Does the money have to be repaid?

No, money received through this fund does not need to be repaid.

Are the emergency grants taxable?

As of May 1, 2020, it is unclear if emergency grants are taxable.

How many times can I apply?

Currently, you may apply multiple times for new, unexpected expenses as a result of the disruption to campus operations or the transition to distance education.

What is the deadline to apply?

Applications will be accepted throughout the year until funds are exhausted.

Looking for additional ways to alleviate financial stress? View a list of essential resources available to you.