Disclosure concerning Student Emergency Relief Funding under the CARES Act.
Higher Education Emergency Financial Aid Grants to Students
- PC AGE Career Institute (PC AGE) acknowledges that on May 1, 2020, the institution received funding through the Higher Education Emergency Relief Fund (“Relief Fund”) authorized by the Coronavirus Aid Relief and Economic Security (CARES) Act. PC AGE signed and returned to the U.S. Department of Education the Certification and Agreement and the assurance that the institution intends to use 50 percent of the funds received under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants to eligible students who have incurred qualifying expenses related to the coronavirus outbreak.
- PC AGE has received a total amount of $782,768.00 to fund these emergency grants.
- 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 submission (6/23/2020) is $391,384.00. This constitutes 50% of the total fund amount from 2. above.
- 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 = 182 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 = 182 students.
- The method(s) 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: Eligible students were those who qualified for Title IV funds (in our case, all of our currently enrolled students) under Title IV, Section 484 of the Higher Education Act of 1965. We equally divided students’ portion of the funds ($391,384.00) among 182 students giving $2150.46/student.
- Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants: Students were informed via email (see below).
PC AGE is required to spend its share of the CARES Act funds within one calendar year.
First update: June 23, 2020 Second update: July 15, 2020
CARES Act Funding Guidelines for students
The recently enacted federal CARES Act provided money to colleges, universities and educational institutions for emergency student grants. The purpose of the money is to award emergency financial aid grants to students for specific expenses that are a direct result of the disruption of campus operations due to the coronavirus. PC AGE will receive funds under the Federal CARES Act to distribute emergency financial grants to all its currently enrolled students ensuring the funds are distributed as widely as possible.
The following eligibility requirements have been established by the U.S. Department of Education.
- You must be a current student in good standing at PC AGE as of May 14, 2020 (date of disbursement).
- You must not have been enrolled exclusively in online courses prior to March 13, 2020.
- You must be eligible for federal financial aid.
- All students affected by the change from ground-based to online education due to COVID-19 are eligible.
The following is a list of expenses that can be considered for CARES Act Emergency grant assistance if they were incurred in “direct relation to the disruption of campus operations due to the coronavirus.”
- Course materials
- Health care
- Technology-related expenses (such as having to buy a computer for online classes)
The CARES Act stipulates that the emergency funds cannot be used to replace a loss of income or to pay for student expenses that are not directly related to the disruption of campus operations due to the coronavirus pandemic.
PC AGE QUARTERLY HEERF REPORTS
1st quarterly report ending Sept 2020, click here.
2nd quarterly report ending Dec 31, 2020, click here.
3rd quarterly report, ending March 31, 2021, click here.
4th quarterly report, ending June 30, 2021, click here.
For any questions, please contact Accounting Department, Mary Ann Naval at firstname.lastname@example.org.
HEERF II and HEERF III-ARP Grant Awards
PC AGE Career Institute (PC AGE) acknowledges that the institution received additional funding through the Higher Education Emergency Relief Fund as follows:
1) HEERF II – The Coronavirus Response and Relief Supplemental Appropriations Act (CRRSA Act) – received on 03/31/2021 for $307,671.00; AND
2) HEERF III – The American Rescue Plan (ARP) – received on 06/28/2021 for $182,673.00.
A total amount of $490,344.00 was received.