Mark,
Your math is similar to ours for HEERF II, most of which we have distributed at this point. We went with all aid in our unmet need calc (not just gift aid) and factored out large PLUS or private loans.
For HEERF III, my thought is that it makes little sense to send another large batch of money to a population that we just did that for, while paying less attention to people who have need but aren’t Pell recipients or didn’t meet our exceptional need definition. Some of those folks contacted us after our HEERF II email wondering why they didn’t get any. So, our preliminary plan is to lower the bar on that exceptional need definition quite a bit, but we’re still running data to determine how much that will be.
Greg Gearhart
Director of Financial Aid
Messiah University
gearhart@messiah.edu