The CARES Act requires all colleges and universities participating in the program to provide access to the following information:
Recently legislation was enacted that created the CARES Act. Under this act, LBC | Capital received funding that must go directly to students to cover expenses related to the disruption of normal institutional operations due to the COVID-19 pandemic. The deadline is passed for filing the CARES Act Student Emergency Aid Application. Click to review the Quarterly Budget and Expenditure Reporting under CARES Act Sections 18004(a)(1) Institutional Portion:
These emergency relief funds will be distributed based on federal government guidelines requiring institutions to distribute funds to specific student populations who are defined as having exceptional financial need.
Lancaster Bible College has defined students with having exceptional need to include priority to Pell Grant recipients. On that basis we developed three populations of students with exceptional need. These include undergraduate Pell Grant recipients, undergraduates who are not Pell Grant recipients but have high unmet financial need (up to 12000 EFC), and graduate students who have high financial need (up to 12000 EFC) as determined by the FAFSA (Free Application for Federal Student Aid). Students must be enrolled at least half-time.
The total amount of funds that LBC has received is $2,912,927.
The total amount distributed to date is $2,912,927 to 1,602 students.
The funds have all been distributed.