CARES Act Fund
Sage School of Massage & Esthetics signed a Certification and Agreement for the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which included the Higher Education Emergency Relief Fund (HEERF). The school was obligated funds on May 21, 2020. 50% of the funds received under Section 18004 (a) of the CARES Act were distributed as Emergency Financial Aid Grants to students whose education was disrupted by COVID 19. The school received the funds on June 3rd and began disbursing funds to individual students on June 4th.
Sage was awarded $39, 512.00 with a minimum of 50% of the funds distributed to 21 students out of our total student enrollment of 22 students. The method for allocating the funds to students was based on student need. Students were emailed individually about whether they were in financially need due to the disruption of their education by COVID 19. 21 students out of 22 students who were Title IV eligible, expressed need.
Funds were prorated according to the individual student’s program hours and all student in that program received equal disbursements as follows: 3 Students in the 900 Hour Program Received $1020; 10 Students in the 750 Hour Program Received $950; 8 Students in the 740 = $900. All funds were used for the intended purposes stated on the Certification and Agreement.
Students were given the following instruction and guidance. Each student read the directions and signed a form: “I understand that the only statutory requirement in receiving the grant funds is that the funds must be used to cover expenses related to the disruption of campus operations due to the coronavirus (including eligible expenses under a student’s cost of attendance such as food, housing, course materials, technology, healthcare, and childcare.”
The remaining amount of funds is available for additional student aid or to support school operations impacted by the Coronavirus. Website updated October 10, 2020. As of this date, the institutional portion of the CARES ACT has not been received.
January, 2021: Quarterly Budget and Expenditure Reporting under CARES Act Sections 18004 (2)(1) Institutional Portion