30-Day CARES Act Funds Disclosure
Date of Submission: June 12, 2020
To the Standard College Community:
Standard Healthcare Services College of Nursing has signed and returned to the Department the Certification and Agreement and the assurance that 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.
The total amount of funds that the institution has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is
The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of June 12, 2020 is $245,246.77.
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 to students under Section 18004(a)(1) of the CARES Act is 375.
The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act is 350.
The method 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 was based on the following:
- CARES ACT funds were distributed to Title IV currently enrolled students, actively taking courses in Standard College’s Practical Nursing Program or LPN to RN Transition Program as of May 14, 2020. The school determined a student’s Title IV eligibility based upon a U.S. Department of Education decision deeming that student eligible for Title IV financial aid as a result of the student submitting a FAFSA application. “Currently enrolled students” was defined as a student who was actively taking classes at Standard College on May 14, 2020, the date the notice of the CARES Act was distributed to the student
- The school set aside 5% of the funds as reserves for students who had (1) taken a Leave of Absence or withdrew from the program prior to May 14, 2020 and (2) will return to the program, enrolled as an active student, by July 17,
- The school determined the total number of currently enrolled Title IV eligible students based upon the date the notice of the CARES Act Funds was distributed to the student community.
- The school determined the number of currently enrolled students receiving a Pell Grant based upon the date the notice of the CARES Act was distributed to the student community.
- The school distributed 20% of the remaining funds to PELL Grant recipients. The school did not make a distinction on the amount of Pell grant the student received. Each PELL grant recipient received a CARES Act grant in an equal
- The remaining 75% of CARES ACT funds was divided equally among all currently enrolled Standard College Title IV eligible students (PELL and Loan recipients).
- The school distributed $767.52 to each PELL Grant recipient and $560.56 to each eligible Loan
- Definition of Currently Enrolled. The student must have been currently enrolled, actively taking classes in the Practical Nursing Program or the LPN to RN Transition Program as of the date the school sent notice to students about the Care Act funds. A student on a leave of absence or withdrawn from the program on the date the notice was sent was not eligible to be considered for the
- Reserve Funds Information. The 5% reserve was set aside and reserved for students who had (1) taken a Leave of Absence or withdrew from the program prior to May 14, 2020 and (2) will return to the program, as an active, enrolled student, by July 17, 2020. Pell Grant recipient students in this group will receive up to $767.52. Loan recipient students in this group will receive up to $560.56.
After the distribution of the grants described above, Standard College will assess the amount of remaining CARES Act funding and develop further plans for grant awards in a manner consistent with federal regulations and guidance. Information will be posted on the school website on how the remaining reserves were disbursed.
Instructions provided by Standard College to students concerning the Emergency Financial Aid Grants.
Process for Fund Distribution
The Title IV eligible student, currently enrolled in the Practical Nursing Program or The LPN to RN Transition Program as of May 14, 2020, received a written statement from the school with information on the CARES ACT Fund. The statement indicated the amount of CARE Act funds the student would be receiving. The student was informed that the funds must be used for one of the designated eligible expenses: food, housing, course materials, technology, health care, and child care. The student signed the statement, agreeing
to comply with the terms of the CARES ACT Fund, and submitted it to the school. Upon receiving the student’s signed statement, the school provided the student with the CARES ACT funds within 14 days in the designated amount.