Higher Education Emergency Relief Fund Report – Emergency Financial Aid Grants to Students
June 5, 2020
Stautzenber College and Rockford Career College (OPE ID: 00486600) received education stabilization funds under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), Public Law No: 116-136. This Fund Report applies to the student portion received under the Higher Education Emergency Relief Fund that is designated exclusively for emergency financial aid grants to students.
The institution appreciates that Congress and the President have made these critical funds available for eligible students who have expenses related to the disruption of campus operations due to the coronavirus pandemic. We take receipt of these federal funds seriously and are distributing them in accordance with the CARES Act and implementing guidance.
The institution is making the below information available for transparency purposes and in compliance with the U.S. Department of Education’s (“Department”) Electronic Announcement of May 6, 2020. For questions or concerns regarding this Fund Report, please contact your Campus President, at email@example.com
The institution signed and returned to the Department the Certification and Agreement [for] Emergency Financial Aid Grants to Students. 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.
The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is $933,296.
The total amount of emergency financial aid grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report is $685,372
The estimated total number of students at the 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 under Section 18004(a)(1) of the CARES Act, as of the date of this Fund Report is 1,039
The total number of students who have received an emergency financial aid grant under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report is 763.
The methods 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 are provided at Attachment A.
Any instructions, directions, or guidance provided by the institution to students concerning the emergency financial aid grants are provided at Attachment B.
The Institution followed the direction of the CARES Act. The CARES Act Emergency Funds Eligibility includes students who are enrolled in an on-ground program and are eligible for Title IV funding. Students enrolled in 100% distance education programs, international students or undocumented students are not eligible to receive the Emergency Funds according to the CARES Act Sections 18004(a)(1) and 18004(c).
Of the eligible pool of students, the Institution followed the guidance by the Department to spread the funds across as many students as possible. Therefore, the Institution determined the best method would be to evenly distribute the funds to all eligible students. Eligible students will receive $898.26.
The Institution directed each eligible student to complete the Request for Emergency Funds electronically and send it to the Campus President for processing. A physical check is mailed to the student’s home address on record.