The amount will cover 275 grant-in-aid award checks, 137 field of study award checks and 140 incentive award checks, he said.
The Department of Finance has so far issued 182 checks in the total amount of $182,800 for the spring 2011 semester, he added.
He said SHEFA received the checks from Treasury on April 14.
The checks have been disbursed to recipients starting on April 18.
Hofschneider said SHEFA approved 478 applications as of April 18 and denied 135 as of April 19 for the spring semester 2011.
Those that were approved are eligible to receive grant-in-aid, field of study for juniors and seniors only, and incentive for those who have a GPA of 3.5 or higher per term, he said.
For fall 2010, he said Finance has already processed all funding requests.
“SHEFA truly appreciates the help it receives from Finance for processing our entire request for fall 2010,” he told Variety.
He said the department is doing a “fantastic job” at making sure the funds are available so that financial assistance checks could be processed and disbursed.
