Higher Education Emergency Relief Fund Act (HEERF III) financial aid grant for eligible School of Business Summer School Students

NOTE: This email was sent to students who met the eligibility requirements for HEERF III grants.

Dear [student name],

We are writing today to let you know of a grant you will be receiving soon in your student account. This grant is being offered to eligible graduate-level School of Business students who attended summer school and who met financial aid eligibility criteria.

The U.S. Department of Education established the American Rescue Plan Act of 2021 (ARP) to provide emergency financial aid grants to students who experienced unexpected expenses related to the COVID-19 pandemic. These grants are part of the ARP Higher Education Emergency Relief Fund (HEERF III).

Wake Forest is able to extend to you a HEERF III financial aid grant of [amount].

How you will receive your grant

• The grant will be processed on Wednesday, August 11; checks will be mailed and direct deposits will be sent beginning on Thursday, August 12.
• Please set up Direct Deposit if you have not already done so. The easiest and fastest way to get your grant is via direct deposit. If you had not previously signed up for direct deposit, please do so now. This website has detailed instructions. Please note that it will take a day or two for the direct deposit to reach your bank, so do not be alarmed if you do not receive it immediately; please allow 3 business days for processing.
• Check: If you are not enrolled in direct deposit, you will receive a paper check sent to your primary address on file with the University.
  • To find your address on file, check WIN:
    • Go to WIN > Personal > Your Personal Information > Personal Information to view your address. If your address has changed, please update it in WIN by August 9th.
  • When you receive your paper check, please cash it upon receipt. If you have not received your paper check by August 20th, contact Student Financial Services for assistance.
  • We strongly recommend you enroll in direct deposit, so a check does not get sent to your permanent address if you are about to move back to Winston-Salem for the 2021-22 school year.

Why you are receiving your grant
You are receiving this HEERF III grant because you met the eligibility requirements for Wake Forest School of Business students who attended summer school 2021, which include:

• being enrolled (or in “continuous enrollment status”) as of June 26, 2021.
• having valid FAFSA results for 2021-2022 as of June 26, 2021.

The University has prioritized extending HEERF III funds to eligible students with exceptional financial need as recommended by the U.S. Department of Education.

Using your grant
HEERF III funds may be used for any component of a student’s cost of attendance or for emergency costs that arise due to coronavirus, such as tuition, food, housing, health care (including mental health care) or child care.

Tax implications
IRS Frequently Asked Questions clarify that emergency financial aid grants paid to students under HEERF III for unexpected expenses related to the COVID-19 pandemic are not included in students’ income because the amounts are qualified disaster relief payments under section 139 of the Internal Revenue Code. Students should consult their individual tax advisors for additional information regarding this exclusion.

Questions
Please use this form to submit questions.

We know that COVID has caused many disruptions in the lives of Wake Forest students. We hope that this HEERF III funding helps alleviate some of the financial pressures that you may have experienced.

— Student Financial Services