Emergency Financial Aid Grants to Students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act Reporting
January 20, 2021
FINAL REPORT FOR STUDENT PORTION
Toledo Academy of Beauty is a recipient of the Federal CARES Act: Higher Education Emergency Relief Fund, which provides grants to students and schools for expenses related to the disruption of campus operations due to coronavirus. Of this fund, a minimum of 50% is intended to be distributed amongst the Title IV eligible students, while the remaining is intended for use by the institution.
Student Allocation: $34,614.00
Amount distributed as of 1/20/2021: $34,614.00
Number of students eligible: 23
Number of students who received aid as of 6/21/2020: 23
Amount received by each student: $1504.96
The school has the IRIS report - generated by the students FAFSA - for each student enrolled in Title IV eligible programs. From the ISIR the school was able to determine if the student was eligible to receive HEERF funds. Once the number of students eligible was determined, the total student allocation was divided evenly to each student. Each eligible student received the same amount of funds.
The school informed each eligible student of who the funds were from, why they are receiving them, and what they are to be used for. The checks can not be given back to the school to pay for tuition or fees, the checks are to be cashed by the student.