CARES ACT REPORTING ON EMERGENCY FINANCIAL AID GRANTS TO STUDENTS
On March 27, 2020, the Federal government enacted the Coronavirus Aid, Relief and Economic Security Act (CARES Act), Pub L. No. 116-136, providing funds to institutions from the Higher Education Emergency Relief Fund (HEERF) to make Emergency Financial Aid Grants to Students for expenses related to the disruption of campus operations due to coronavirus, including eligible expenses under s student’s cost of attendance, such as food, course materials, technology, health care, and child care. The law requires institutions to report certain information related to the use of these funds. The following information is reported for the period, April 28, 2020 to May 26, 2020. As of July 8, 2020, all 107 students have cashed their checks.
This statement shall serve to acknowledge that our institution signed and returned to the US Department of Education the Certification and Agreement – Emergency Financial Aid Grants to Students. We further attest that our institution has used, and/or intends to use, no less than 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to Students.
The total amount of funds that the institution has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Student is $155,437.00.
The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of May 26, 2020, is $155,437.00.
The estimated total number of students at our institution eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965 and thus eligible to receive Emergency Financial Aid Grants to students under Section 18004(a)(1) of the CARES Act is 107
The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act to date is 107.
The following is the method used by our institution to determine which students receive Emergency Financial Aid Grants and how much each student has received under Section 18004(a)(1) of the CARES Act.
PROVIDE DESCRIPTION: All the students had a different level of funds that were needed so we split $155,437.00 by all 107 eligible students. All students received $1452.68. The students filled out the funds request form before the check was distributed.
The follow instructions/directions/guidance was provided by our institution to students concerning the Emergency Financial Aid Grants.
PROVIDE DESCRIPTION: Once the funds were relinquished to the bank account, we emailed all eligible students details on how to retrieve the funds. They were instructed to fill out the form, sign electronically and provided mailing address if they wanted it mailed. Those who decided to pick up their check, signed the form that was emailed back to us or signed the form during picking up their check.
Larry’s Barber College determined the students who would receive Emergency Financial Aid Grants awards by using the students’ FAFSAs and valid ISIRs on file as an indicator of Title IV eligibility and grant eligibility. 80% of the funds allocated were equally awarded as initial grants to students who had established grant eligibility on or before March 27, 2020. The remaining 20% of the funding was reserved for secondary grants to students who had not been identified but who establish(ed) grant eligibility prior to the end the one year anniversary of receipt of grant approval. An application to determine eligibility was required for the remaining amount of the grants.
An initial letter was emailed to all students on April 29, 2020. An additional communication was sent via email confirming award information by campus to each student who received an award.