CARES Act/Babson Emergency Fund
Babson College is pleased to provide funding from two sources to assist students with expenses related to the disruption of campus operations due to COVID-19 during the spring 2020 semester:
- The Babson Emergency Fund was created with donations from generous alumni and friends.
- Babson College received funds from the federal government’s Coronavirus Aid, Relief and Economic Security (CARES) Act in the amount of $880,995 in May 2020. Grants from that fund will range from $50 to $6,195 (maximum amount allowed by the U.S. Department of Education).
Undergraduate and graduate students who are currently enrolled and matriculated into a degree or certificate program at Babson can submit an application:
- U.S. citizens and Permanent Residents who have applied for Title IV funding by completing the 19-20 or 20-21 FAFSA will be considered for funds from the CARES Act. Although recipients do not need to be recipients of Title IV funds, they must meet the criteria for Title IV funding.
- International students and domestic students not eligible for federal funding will be considered for Babson funding.
Requests will be reviewed based on expenses related to the disruption of campus operations during the spring 2020 semester due to the coronavirus. Funds cannot be used to pay for Babson related costs such as tuition, room and board or any other outstanding balances.
Examples of costs that can be considered and the typical reimbursement amount Babson can consider:
|Food||Up to $400||Food costs for students unable to return home and living off campus|
|Housing||Up to $1400||Students unable to return home and needing to stay on campus, or renting off campus|
|Transportation||Up to $500||Costs to travel home|
|Technology/Course Materials||Up to $250||Internet access, costs related to online learning|
|Storage Costs||Up to $250||Moving or storage costs related to campus closing in March 2020|
|Canceled Programs/Travel Costs||Varies||Costs related to canceled education abroad programs in the spring—amounts will typically be based on the expense categories listed on this chart|
|Health Care||Based on cost||Receipts required|
|Child Care||Based on cost||Receipts required|
Babson has implemented recommended amounts for each type of request in order to best distribute limited funds. Payment will be directly to the student in the form of a check or EFT refund initiated on the Babson Hub. Given the volume of requests, please allow 2 weeks for processing once you submit your request.
Prior to receiving CARES funds, the College advanced many requests to students via the Babson Emergency Fund. If you previously requested funds for a particular expense, we cannot provide additional funding for that same cost.