UT Austin giving more than $25 million to high-need students

The University of Texas at Austin is in the process of releasing the first wave of 2022 student emergency grants. More than $25 million in student emergency grants will be awarded across 27,600 students.

Austin (KXAN) — The University of Texas at Austin is in the process of releasing the first wave of 2022 student emergency grants. More than $25 million in student emergency grants will be awarded across 27,600 students.

The funds are meant to help pay for tuition, food, health care, including mental health care, and other emergency financial needs.

Eligible students received an email on Wednesday informing them of the incoming funds. Students who have direct deposit set up with UT will have the funds sent to their banks in approximately 3-5 business days, though individual banks may take longer to process the deposit. Students without direct deposit will have a check mailed to the permanent address they have on record with UT.

The school looked at financial aid forms and distributed funds to high-need students based on factors such as family income and eligibility for Pell grants. Students didn't need to apply.

This is federal money given to the university to help students impacted by the pandemic and the resulting economic downturn.

Though it's is called a "one-time" fund, this is the third time UT has released this type of funding.

Funds awarded in this wave range from $300 to $2,500. A graphic provided by UT explains the exact breakdown of the funds and how much specific students should expect to receive.

The students with the highest financial needs are the only ones receiving funds now.

There will be another round of funding available by application later this month for students who were not eligible for the current wave.