Coronavirus Aid, Relief and Economic Security (CARES)
Academy College received $42,783 from the federal 2020 Coronavirus Aid, Relief and Economic Security (CARES) Act to be used to assist students experiencing hardships caused by the COVID-19 pandemic (including eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, health care and childcare). Academy College signed and returned the Certification Agreement to the U.S. Department of Education on May 4, 2020.
The U.S. Department of Education clarified the following eligibility requirements for students:
- Students enrolled exclusively in an online course on March 13, 2020 are not eligible for emergency financial aid grants.
- Students must be eligible to participate in Title IV federal financial aid programs.
Academy College decided to disperse the funds equally between all students who meet the above criteria. Funds are being distributed directly to qualifying students. Around 50 Academy College students are eligible to receive these funds.
An email was sent to all students from the Director of Education regarding our receipt of grant money as well as how the funds were to be distributed. Any student who wished to discuss this topic further was available to do so via email or phone.
As of June 25, 2020, the $42,783 received was disbursed to 47 Academy College students.
This is our final report that covers all HEERF fund expenditures for Section 18004(a)(1) Student Portion Funds.
Academy College’s Quarterly Budget and Expenditure Reporting for Institutional Funds Awarded