SGC raises nearly $2,000 for Student Contingency Fund

The Cohort PhD program’s Student Contingency Fund Committee is proud to announce that July Residency’s silent auction and raffle raised close to $2,000 to help support students in need of emergency financial assistance. Organized by Karen Traynum-Davis and Eric Hannel, the silent auction and raffle contained goods and services donated by students, faculty members, administrators and staff members.

Background Information

The Cohort Ph.D. program’s Contingency Fund is an internal fund designed to help students in need of small emergency grants. It is supported by our program’s faculty, staff and administration, as well as by other students, alumni and outside donors. The Contingency Fund is not a scholarship or a loan, but an attempt to alleviate immediate financial duress that threatens to hinder a student’s ability to continue in the Cohort Ph.D. program. Some possible uses for the Fund include: purchasing seminar books, upgrading software, upgrading hardware, completing funding for Residency accommodations and transportation, etc. Fund money cannot be used for tuition costs.

Students should be aware that the amount granted will depend upon the money available in the Fund, as well as on the needs of other students. One quarter of the Fund’s amount will also be held in reserve in order to protect the Fund’s ability to receive and disperse awards.

Process

The Student Contingency Fund contains two categories of request, one for emergency Residency aid, and one for all other financial hardships.

1.     Emergency Residency Aid. The Student Contingency Fund will provide $100 cash to the Dean at the beginning of every Residency to be used for dispersal during Residency. These dispersals go directly through the Dean, and should be used for immediate emergencies such as occur when a wallet has been stolen, luggage lost, etc. Students in need of immediate Residency Aid should see the Dean directly for access to this limited resource. Receipts will be provided to the Contingency Fund Committee concerning Residency Aid dispersals; students are expected to repay this money within 12 months.

2.     Unforeseen Financial Hardship. This is the focal point of the Student Contingency Fund, and should be used for all non-Residency financial emergency requests. Students in need of Contingency Fund Money outside of Residency should apply by completing the attached form and submitting it to the Student Contingency Fund Committee by the first of every month. The Committee will then meet to discuss any applications received, and students will be notified by the 10th of the month if the Committee has been able to meet their request. Checks will then be mailed by the University to students. It should be noted that it may take up to 30 days to process check requests. Money awarded students in this category is not expected to be repaid.

In this first year of the Student Contingency Fund, students may apply for Funds once per year, and no request may exceed $200. Both criteria will be reviewed in July 2012.

The Student Contingency Fund Committee will begin receiving applications for Fund money on June 1, 2011. Requests should be submitted to Nancy Boxill and Andrea Scarpino at: Nancy.Boxill@myunion.edu and Andrea.Scarpino@myunion.edu. Emergency Residency Aid will be available for the July 2011 Residency.

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