CARES Act - Higher Education Emergency Relief Fund - Institutional Portion
CARES Act - Higher Education Emergency Relief Fund - Student Portion
“The CARES Act Higher Education Emergency Relief Fund-IHE/Student Aid provides funding to institutions to provide emergency financial aid grants to students whose lives have been disrupted, many of whom are facing financial challenges and struggling to make ends meet. Students cannot apply for assistance directly from the U.S. Department of Education but should contact their institutions for further information and guidance. Institutions have the responsibility of determining how grants will be distributed to students, how the amount of each student grant is calculated, and the development of any instructions or directions that are provided to students about the grant.”
1. Morgantown Beauty College signed and returned to the Department the Certification and Agreement and the assurance that the institution has used, 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.
2. Morgantown Beauty College Inc received $89,887 from the Department of Education pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students.
3. Total $89,887 of Emergency Financial Aid Grants have been distributed to students under Section 18004(a)(1) of the CARES Act as of 05/07/2020.
4. 34 is the total number of students at Morgantown Beauty College 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.
5. 30 is the total number of students who received an Emergency Financial Aid Grant under Section 18004(a)(1) of the CARES Act.
6. The method(s) used by the institution to determine which students receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act is as following:
a) Eligible students were informed about emergency financial aid grant and provided with application form.
b) Students submitted application form, requested amount, bank account information for electronic transfer and supporting documents.
c) Morgantown Beauty College reviewed applications and documents.
d) Morgantown Beauty College sent grants to students via electronic transfer: $600 to students who requested grant for food only, $4,230.70/$4,730.72 for students with children (based on the number of children and custody agreements) and $3,230.71 for everyone else. 4 eligible students declined financial aid grant.
7) Morgantown Beauty College advised students the grants are to be used for food, housing, utilities, and childcare for the months of March, April, and May as requested. Guidance sent in writing via email.
For more information: https://www2.ed.gov/about/offices/list/ope/caresact.html