DeVry University Commits 100 Percent of CARES Act Funds to Students

Disbursement of emergency funds will provide direct financial assistance to campus students impacted by COVID-19 pandemic

NAPERVILLE, Ill.--(BUSINESS WIRE)--DeVry University is announcing its commitment to distribute 100 percent of its federally allocated Higher Education Emergency Relief Fund funds from the CARES Act directly to students who are impacted by the COVID-19 pandemic. The CARES Act funds are intended to help eligible students with additional expenses they have incurred due to the transition to remote learning and the disruption of campus operations as a result of COVID-19.

DeVry will equally disperse the financial assistance to students who both request funds and meet U.S. Department of Education eligibility requirements.

“At DeVry University, we have a culture of Care that shapes our university’s focus on providing support for our students. In keeping with this mission, we are publicly announcing our commitment to direct all funds we receive under the CARES Act to supporting our campus students, who have been significantly impacted by the COVID-19 crisis,” said Bill Caruso, Interim President and Chief Executive Officer of DeVry University.

According to the Department of Education, 50 percent of funds from the CARES Act must help students “cover expenses related to the disruption of campus operations due to coronavirus.” This could include housing, food, technology and childcare. The institutional component of the funds can also be disbursed to students as emergency financial aid grants, and eligible expenses can include a student’s comprehensive cost of attendance. DeVry will be disbursing 100 percent of the student and institutional funds it receives to eligible students in the form of grants.

“For us, there was never any doubt that we would direct our full allocation of funds from the CARES Act to assisting students from our campus locations,” added Caruso. “In this deeply unsettling time, we remain, as always, focused on supporting the academic success, personal development and career potential of our students.”

About DeVry University

DeVry University’s mission is to foster student learning through high-quality, career-oriented education integrating technology, business, science and the arts. Founded in 1931, the university offers undergraduate and graduate programs onsite and online within its six areas of study: Accounting, Business, Healthcare, Technology, Liberal Arts, and Media Arts & Technology. The university is accredited by The Higher Learning Commission (HLC, www.hlcommission.org/). To learn more about DeVry University, visit devry.edu.