Due to the financial impact of COVID-19, many students received money from Southern and even the government.
According to the Chattanooga Times Free Press, Southern is one of the institutions in eastern Tennessee that received government funds as a response to COVID-19 and the financial effects to the university. The university received $2.44 million of which $1.21 million is designated to help students who qualify for emergency financial grants.
Administration created a formula that took into consideration housing, food, travel, Expected Family Contribution (EFC) and general supply, said Doug Frood, executive director of budgeting and financial analysis. The formula produced a number that the university then scaled according to each student’s EFC in regards to FAFSA. The number represents the financial need of each student, which helped the university determine how much money each individual would get.
According to Paula Walters, director of student finance, this money was “automatically granted to 1,300 students who automatically qualified” according to the formula and their FAFSA applications.
Of the remaining money granted by the government, $1.2 million was designated by the university to further help students who need it most and to make required adjustments to campus in order for students to return in the fall.