OREM, Utah (ABC4 News) — Utah Valley University announced Wednesday that it will begin handing out $11,474,604 to students qualifying for CARES Act funding, according to a release.

The university received $22,949,207 in relief funding and will give half of the funds to students. The other half will be used to cover institutional costs related to the coronavirus pandemic.

University officials said in the release they hope to distribute funds to students quickly so they can use the money to cover immediate costs, such as food, housing, healthcare, technology, course materials, and childcare.

RELATED: BYU will not accept $32.2M in CARES funding

“One of our main goals as a university is to provide exceptional care to our students,” said Astrid S. Tuminez, president of UVU. “One way to demonstrate that care is to make sure our students receive their funding as quickly as possible. We know this time has been difficult, and we want them to succeed.”

The university may distribute funds to students in the following ways:

  • Students will receive a one-time cash payment based on the Estimated Family Contribution on FAFSA applications
  • A portion of federal funds will be awarded to students who require the money to remain in school (requires a completed FAFSA)
  • Funds will be given to students who are within 15 credit hours of graduating

According to the release, the university will base funding decisions on students’ 2019 to 2020 or 2020 to 2021 FAFSA application. Students will receive a notification through their UVU Gmail accounts if they are eligible to receive federal funding. If students are signed up for direct deposit, the funds will be transferred to their bank accounts. If not, the checks will be mailed.

RELATED: CARES funding now available to SLCC students

Students will need to complete a Qualtrics survey to determine if they experienced financial difficulties due to the COVID-19 pandemic.

For more information, visit uvu.info.

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