Bianca Cseke | The DePaulia
DePaul is set to receive the 10th largest sum of money from the federal government among private, non-profit institutions, per the money set aside for higher education in the Coronavirus Aid, Relief and Economic Security (CARES) Act.
The university will receive over $14 million in aid, though only half is required to be awarded to students in the form of emergency financial aid grants.
The university does not yet know how it will allocate the remaining funds, according to DePaul spokesperson Carol Hughes, who said the review of the legislation is ongoing.
“Many discussions are yet to be completed before we have a firm sense of how we will be moving forward toward our goal of administering the funds in a way that will allow us to help as many students as possible,” Hughes said in a statement.
Even before the announcement of the federal aid, DePaul was set to end the budget year with a surplus, thanks to a $13 million charitable donation gifted to the school earlier this year, according to Chief Financial Officer Jefferey Bethke.
DePaul employs over 3,500 students at the university each year, according to the Office of Student Employment. Despite the closure of campuses during the pandemic, the school has committed to paying its student workers through June.
But among the uncertainties of the 2020-2021 school year is whether student employment will continue. With many student employees counting on a paycheck from DePaul to pay their tuition, financial aid from the federal government is especially prescient.
This is a developing story. Check back for updates.