Higher Education Emergency Relief Fund Report – Emergency Financial Aid Grants to Students
The Modern College of Design (OPE ID: 025530) received education stabilization funds under Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), Public Law No: 116-136. This Fund Report applies to the student portion received under the Higher Education Emergency Relief Fund that is designated exclusively for emergency financial aid grants to students.
The institution appreciates that Congress and the President have made these critical funds available for eligible students who have expenses related to the disruption of campus operations due to the coronavirus pandemic. We take receipt of these federal funds seriously and are distributing them in accordance with the CARES Act and implementing guidance.
The institution is making the below information available for transparency purposes and in compliance with the U.S. Department of Education’s (“Department”) Electronic Announcement of May 6, 2020. For questions or concerns regarding this Fund Report, please contact Veronica Davidson, Director of Financial Aid, at email@example.com.
The institution signed and returned to the Department the Certification and Agreement [for] Emergency Financial Aid Grants to Students. The institution has used, or intends to 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 will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students is $137,281.
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 this Fund Report is $137,281.
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 under Section 18004(a)(1) of the CARES Act, as of the date of this Fund Report is 246.
The total number of students who have received an emergency financial aid grant under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report is 132.
The methods 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 are provided at Attachment A.
Any instructions, directions, or guidance provided by the institution to students concerning the emergency financial aid grants are provided at Attachment B.
Of the total amount to be awarded to students we will award 70% to the current student body as of 3/1/2020, 20% will be retained for needs of Summer/Fall new students, and 10% will be retained for Professional Judgement (PJ) cases. To determine the amount of each student’s individual award we have created a chart based on EFC and dependency status (see below). Independent students would be awarded $200 more than dependent students. Awards would begin at $1150 for independent and $950 for dependent and decrease by $25 per 1000 increase in EFC for both. The maximum amount of an award to a student will not exceed $6195 including additional funds from PJ requests. As of 5/21/2020, if a student does not have a FAFSA on file, and therefore TIV eligibility cannot be determined as well as the student would have no EFC, but has need for these emergency funds, the student can be awarded the minimum amount of $50.
Students must complete a CARES Act Emergency Relief Grant Application (Appendix A). The institution will review the application to determine if students are encountering expenses related to the disruption of campus operations due to coronavirus in one or more of the following areas: food, housing, course materials, technology, health care, and child-care expenses. Students will self-certify on the application to their need for funding.
Application Review Guidelines:
The Director of Financial Aid will review applications to verify that students were in attendance at the institution for the timeframe that they are being awarded. Awards will be determined based on several factors including:
Federal student aid eligibility
Once application has been reviewed, a determination will be made as to whether the student can be awarded. An email notification will be sent to the student of their determination. If the request is approved, the student must complete the CARES Act Emergency Relief Grant Student Disclosure (Appendix B) before the aid will be disbursed. Disbursements will be made to students by paper check sent to the address on file with the institution.
If the CARES Act Emergency Relief Grant Application is approved, students will be emailed a CARES Act Emergency Relief Grant Student Disclosure. The student will need to certify that they will use the funds awarded to them for the specific costs that they incurred for expenses related to the disruption of campus operations due to coronavirus in one or more of the following areas: food, housing, course materials, technology, health care, and child-care expenses. They must sign the disclosure and return it to the Director of Financial Aid so that funds can be disbursed to the student. Awards will be issued, and disbursements made to students after receiving a signed disclosure.