Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt
Standard College Response to the Coronavirus

Click Here for more information 

CARES Act Emergency Aid Disclosures

45-Day CARES Act Funds Disclosure

Date of Submission: August 10, 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 the institution has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is

$258,154.50.

First CARES ACT Application period:     May 13, 2020 -June 12, 2020

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 was $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 as of June 12, 2020 was 375 eligible students.

The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act as of June 12, 2020 was 350.

Second CARES ACT Application period: July 22, 2020 –July 31, 2020

Standard College opened a 2nd CARES Act emergency grant application cycle July 22, 2020. The application closed on July 31, 2020.

The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of August 4, 2020 was $257,613.41.

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 as of July 31, 2020 was 375 eligible students.

The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act as of August 4, 2020 was 367.

In the First CARES ACT Application period, 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:

  1. CARES ACT funds were initially 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
  2. 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, 2020.
  3. 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.
  4. 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.
  5. 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
  6. The remaining 75% of CARES ACT funds was divided equally among all currently enrolled Standard College Title IV eligible students (PELL and Loan recipients).
  7. The school distributed $767.52 to each PELL Grant recipient and $560.56 to each eligible Loan.
  8. 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 CARES ACT Funds.
  9. 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.

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.

In the Second CARES ACT Application, Standard College determined which students would receive the Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act based upon the following:

  1. Students who had been enrolled at Standard College prior to May 14, 2020 and returned to the Practical Nursing or LPN to RN Transition program as a currently enrolled student by July 21, 2020 were informed either that they (1) were eligible to receive the CARE ACT Funds or (2) how they could establish eligibility to receive the Funds.
  2. Students were informed that eligibility was established 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 2019-2020 or 2020-2021 FAFSA application.
  3. Students were given a deadline to submit the 2019-2020 or 2020-2021 FAFSA application for the purpose of establishing eligibility to receive the Funds.
  4. The Title IV eligible currently enrolled student needed to timely completed the CARES ACT Fund acceptance process by July 31, 2020.
  5. The Reserve Funds set aside from the first CARES ACT distribution were used to distribute to Title IV eligible, currently enrolled students in the second CARES ACT distribution period.
  6. The school determined whether the student in the second CARES ACT distribution period was eligible to receive a PELL grant or a financial aid loan.
  7. The school distributed $767.52 to each PELL Grant recipient and $560.56 to each eligible Loan recipient in the second CARES ACT distribution period.

Process for Fund Distribution

In the second CARES ACT application period, an email notification was sent July 22, 2020 to students who had not yet established Title IV eligibility. The school did not have on file a Title IV financial aid record for the students. The email informed the students how to establish eligibility to receive the Funds. The email indicated a deadline in which to complete the process to establish Title IV eligibility.

Another email notification was sent June 29, 2020 to all eligible students in the second CARES ACT application period informing them of the CARES ACT Fund acceptance process. These students had established eligibility to receive the CARE ACT Funds. The notification included a link by which to apply for the Funds. The notification indicated a deadline in which to complete the acceptance process.

The email notification contained comprehensive 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 email informed the student on the process: the student would need to timely sign the statement, agreeing to comply with the terms of the CARES ACT Fund, and submit it to the school. The email stated that upon receiving the student’s signed statement, the school will provide the student with the CARES ACT funds within 14 days in the designated amount.

After the Second CARES ACT distribution, Standard College has a remaining balance of $560.56 CARES ACT Funds available.

————————————————-

CARES ACT Updates

CARES Act 30-Day Report (June 12, 2020)