Quarterly Budget and Expenditure Reporting under CARES Act Sections 18004(a)(1) Institutional Portion, 18004(a)(2), and 18004(a)(3).
The Coronavirus Aid, Relief, and Economic Securities (CARES) Act (Pub. L. 116-136) authorized the U.S. Department of Education (“ED”) to allocate formula grant funds to postsecondary institutions for the purpose of addressing needs related to coronavirus. On July 13, 2020, Gwendolyn C. Middleton, President of Arkansas Beauty School-Little Rock (ABS-LR), signed and submitted to ED the Certification and Agreement for an Award under Section 18004(a)(2) of the Higher Education Emergency Relief Fund, Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Total CARES Act Funds Provided to Arkansas Beauty School-Little Rock for Student Emergency Financial Aid
Total funds allocated to ABS-LR for Student Emergency Financial Aid from the Department pursuant to the institution’s Certification and Agreement for Emergency Financial Aid Grants to Students was $125,247.00, which will be directly disbursed to students. The institution will 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.
Estimated Number of Students Eligible to Participate Under Section 4848 in Title IV of the Higher Education Act of 1965
A primary criterion for eligibility consideration is a student’s eligibility to apply for federal aid, regardless of whether an application was submitted. It has been determined that seventy-one (71) students were eligible to participate in the federal aid programs under Section 484 in Title IV of the Higher Education Act of 1965 during the 2019-20 academic year.
Methods Used by Arkansas Beauty School-Little Rock to Determine Students’ Eligibility and Amount of Emergency Financial Aid Grant Under Section 18004(a)(1) of the CARES Act
In efforts to ensure that eligible students will receive a share of the funding, ABS-LR has established a method of distribution based on Expected Family Contribution (EFC) as reported on the 2019-2020 Free Application For Federal Student Aid (FAFSA). Based on this methodology, students with an EFC that is $15000 or less were considered eligible to receive ABS-LR CARES Act Student Emergency Grant funds.
Additionally, the U.S. Department of Education set forth guidelines to which the College must abide to determine grant eligibility.
- Students must be eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965, as amended (HEA). For purposes of disbursal of these funds, the College will base determination of eligibility on the existence of the student’s 2019-2020 Free Application for Federal Student Aid (FAFSA).
- Students must be United States citizens (or eligible non-citizens).
- Students must use funds for eligible expenses related to the disruption of campus operations due to coronavirus to include food, housing, course materials, technology, health care and childcare (CARES Act Section 18004(c).
- Students must meet Satisfactory Academic Progress (SAP) requirements, as outlined by Financial Aid guidelines. Students identified by the Office of Financial Aid as initially eligible (based on the above guidelines) will receive notification via e-mail, KlassApp, and/or by phone. Students must follow the directions provided by the Financial Aid Department within the correspondence to certify that funds awarded will be used for allowable expenses. Funds will not be disbursed to students who have not submitted a certification form. Upon receipt of the certification form, funds will be disbursed via check to students.
- Eligible students must have been enrolled and attending classes as of March 20, 2020 (the day the school closed face-to-face operations due to the 2020 COVID-19 Pandemic).
The Financial Aid Department of ABS-LR has determined that 53 of the 71 students identified as eligible to participate under Section 4848 in Title IV of the Higher Education Act of 1965 will receive the Emergency Financial Aid Grant Under Section 18004(a)(1) of the CARES Act. The estimated award for students has been calculated at $2,363.15.
Total Number of Students Who Have Received Emergency Financial Aid Grant Under Section 18004(a)(1) of the CARES Act
Number of Students Who Have Claimed Disbursement: 51
Amount of Claimed Disbursements: $125,250.70
As of This Date: December 16, 2020
Students who feel they meet the eligibility guidelines but were not issued funds should contact the Office of Financial Aid at 501.503.5040 or email firstname.lastname@example.org