The CARES Act Higher Education Emergency Relief Fund (HEERF) provides funding to institutions for emergency financial aid grants to students whose lives have been disrupted by the coronavirus pandemic. Below is Institute of Beauty Career’s fifth report 45-Days after.
With regard to the CARES Act Section 18004(a) (1), Institute of Beauty Careers acknowledges and assures that:
- A signed Certification and Agreement was returned to the Department of Education on April 13, 2020 with the intention of using 50% of the funds received to provide Emergency Financial Aid Grants to students.
- The total amount of funds that Institute of Beauty Careers received for the benefit of students is $791.719.
- The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the Cares Act as the date of submission of November 11, 2020 is $467,625.00
- The estimated number of students 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 under Section 18004(a)(1) of the CARES Act is 337.
- As of November 305 students have received funding.
- The Institute of Beauty Careers determined that all eligible students who fill out application and acceptance forms according to Emergency Grants for expenses related to the disruption of campus operations due to coronavirus (including eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, health care, and child care) will receive an equal amount of Emergency Financial Aid Grants under Section 18004(a)(1) of the Cares Act into two installments and taking in consideration the requirements for eligibility.
- The students were notified through their teachers with instructions of who will be eligible for emergency aid and the requirements. Also, to the date that the distribution of the checks.
The next update to the report will be posted here on or before December 26, 2020.