CARES Act Funds Disclosure

Date of Submission: June 12, 2020

To the Standard College Community:

1. 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.
2. The total amount of funds the institution received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is $258,155.00.
3. 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 $245,247.25.
4. 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 350.
5. 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.
6. 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 the number of eligible students based on the number of students for whom the school had received an Institutional Student Information Record (ISIR).
   • “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 21, 2020.
   • The school determined the total number of currently enrolled Title IV eligible students on May 14, 2020, 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 on May 14, 2020.
   • 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 amount.
   • 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 May 14, 2020, 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 funds.

Reserve Funds Information. A 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 21, 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.

7. Instructions provided by Standard College to students concerning the Emergency Financial Aid Grants.

The Title IV eligible student, currently enrolled in the Practical Nursing Program and 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.

After the First CARES ACT distribution, Standard College had a remaining balance of $12,907.75 CARES ACT Funds available.

Here is the first email notification students received concerning the Emergency Financial Aid Grants. The email was sent on May 14, 2020.

Dear Student,

To ensure learning continues when unexpected circumstances arise, the CARES Act Higher Education Emergency Relief Fund-IHE/Student Aid is providing funds to institutions so that they may distribute emergency financial aid grants to eligible students. The CARES Act provides institutions with significant discretion on how to award this emergency assistance to students. Standard College will be receiving CARES Act funds soon. The school will be distributing the funds to Title IV eligible, currently enrolled students, who are actively taking courses in the Practical Nursing Program or the LPN to RN Transition Program. This email will provide you with information on who is eligible to receive the funds and the process the school will use to administer the funds.

Who is eligible?

The funds will be distributed to all Title IV eligible, currently enrolled students, actively taking courses in one of Standard College’s nursing programs. Title IV eligibility is a threshold requirement of the CARES ACT; it is not a decision made by Standard College. The school will determine a student’s Title IV eligibility based upon whether (1) the student is currently receiving financial aid or (2) the student applied for and was determined eligible to receive financial aid, but opted not to use it. Please note that financial aid consists of grants or loans provided as a result of completing the FAFSA application. “Currently enrolled students” is defined as a student who is actively taking classes at Standard College as of the date of this email.

How can I gain eligibility?

If you did not receive financial aid for the 2019-2020 award year and wish to be considered for CARES ACT Funds, you must submit the 2019-2020 or the 2020-2021 FAFSA by 5:00 pm on May 17, 2020. You can submit the FAFSA online at https://studentaid.gov/h/apply-for-aid/fafsa. The school code is 042210.

What do I need to do if I am eligible?

By May 22, 2020, eligible students will be receiving an email from the school. The email will contain a letter signed by the school, identifying the amount of funds you have been determined to be eligible to receive. The letter will identify the designated expenses in which the funds are to be used. Designated expenses consist of food, housing, course materials, technology, health care, and childcare. If you wish to receive the funds, you must sign the letter electronically and agree to comply with the terms of the CARES ACT Funds, i.e., to use the funds in one or more of the designated categories. You will return the signed letter by email to the school. Upon receiving your signed letter, the school will provide you with funds from the CARES ACT Fund in the appropriate amount. The quickest method to receive the refunds will be through your Bills.com account. If you do not have a Bills.com account, a check will be mailed to you. You may still create a Bills.com account, if you have not already done so.

How is the school determining the amount of funds I will receive?

* The school will distribute 20% of the funds to PELL Grant recipients. The Pell grant is awarded to eligible students who display an “exceptional financial need,” as determined by the U.S. Department of Education. The Department has encouraged institutions to prioritize distribution of the CARES Act Funds to students with the greatest need. For this reason, the school is providing Pell Grant recipients with additional funds as a result of their demonstration of significant need.

* The school will set aside 5% of the funds as reserves for students who do not initially qualify for the funds, but can demonstrate that they are in fact Title IV eligible.

* The remaining 75% of CARES ACT funds will be divided equally among all currently enrolled Standard College Title IV eligible students (PELL and Loan recipients).  For instance, if the school receives $250,000 CARES ACT Funds, 5% will be set aside as the reserve in the amount of $12,500.00. Hypothetically, there may be $50,000 provided to PELL Grant recipients. This will leave the school with a balance of $187,500. The balance of $187,500 will be equally divided by the total number of Standard College currently enrolled Title IV eligible students (PELL and Loan Recipients).

We hope these funds help you and your family during these unprecedented and challenging times.

We wish you the best in the program, and to continue to stay safe.

Here is the second email notification regarding completing the CARES Act fund award agreement. The email was sent on May 22, 2020.

Dear Student,

You have qualified for the CARES Act Funds in the amount of $767.52.

Click on the link below to complete the online Award Agreement.

https://forms.gle/FMJ84QMewVbzbRfY8

To receive the CARE Act Funds, complete and submit the online Award Agreement by Tuesday, May 26, 2020. After the school receives the signed Agreement, the Funds will be provided to you within 14 days.