Want to Know More?
FAQS
Question: Are these emergency financial aid grants to students considered taxable income?
Answer: No. Emergency financial aid grants made by a federal agency, State, Indian tribe, higher education institution or scholarship-granting to a student because of an event related to the COVID-19 national emergency are not included in the student's gross income. For more information, please see the Internal Revenue Service (IRS) bulletin Emergency aid granted to students due to COVID is not taxable (March 30, 2021).
Question: Is a student emergency financial aid grant part of a student's financial aid award package?
Answer: No, these emergency financial aid grants are not part of the financial aid package. They are awarded in addition to other financial aid.
Question: Should institutions include a student's receipt of a HEERF emergency financial aid grant when calculating that student's Expected Family Contribution (EFC)?
Answer: Emergency financial aid grant received by a student under the CARES Act, CRRSAA, or ARP should not be counted as income when calculating a family's EFC.
For more questions contact: care@eacc.edu or 870-633-4480 ext. 215
Source: arpfaq.pdf (ed.gov)
*Students assume all liability for providing documentation of need should such documentation be required by the U.S. Department of Education or the State of Arkansas.
01226000_ARPA_Q32021_101021.pdf
01226000_CRRSAA_Q32021_101021.pdf
01226000_ARPA_Q42021_011022.pdf
01226000_CRRSAA_Q42021_011022.pdf
"EACC has served approximately 500 students with Emergency Financial Aid Grant funds from CRRSAA and ARP."