September 30, 2020 CARES Act Quarterly Report

To the Standard College Community:

1. Standard Healthcare Services College of Nursing 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 Sept. 30, 2020 is $258,172.72.
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 as of July 31, 2020 is 370 eligible students.
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 as of August 4, 2020 is 369.
6. The method Standard College used to determine which students would receive Emergency Financial Aid Grants and how much they would receive under Section 18004(a)(1) of the CARES Act is based on the following:
   • Standard College determined which currently enrolled, Title IV eligible student in the Practical Nursing or LPN to RN Transition had been eligible for the CARES ACT Funds in the first and second reporting periods, but had not accepted the Funds.
   • Standard College contacted the students to provide them with a second opportunity to receive the CARE Act funds. The student was a currently enrolled, Title IV eligible student, for whom the school had an ISIR on file, but had not signed the CARES ACT Funds Award Agreement.
   • The email notification provided the student with a deadline in which to timely completed the CARES ACT Fund acceptance process. The student needed to agree to comply with the terms of the CARES ACT Fund. Accepting the CARES ACT Fund required the student to fill out and submit a form that contained the student’s first and last name, electronic signature, and the current date.
   • Standard College determined whether the student was eligible to receive a PELL grant or a financial aid loan. The school would distribute $767.52 to each PELL Grant recipient and $560.56 to each eligible loan recipient.
   • Standard College had a total balance of $542.34 Student portion CARES ACT Funds available as of July 28, 2020. The school would transfer funds from the institutional portion to allow an eligible student to receive either $767.52 or $560.56, depending on whether the student received a Pell grant or a federal loan.
7. Instructions provided by the institution to students concerning the Emergency Financial Aid Grants:

• • An email notification was sent to currently enrolled, Title IV eligible students, who had been enrolled at Standard College prior to May 14, 2020 and returned to the Practical Nursing or LPN to RN Transition program by July 21, 2020, but had not received the CARES ACT Funds. The email provided the students with a second opportunity in which to accept the funds. The email contained a link to an online CARES ACT Funds Award Agreement. The student needed to agree to comply with the terms of the CARES ACT Fund. The student was instructed to sign and complete the Agreement by a stated date in order to obtain the CARES ACT Funds. Accepting the CARES ACT Fund required the student to fill out and submit a form that contained the student’s first and last name, electronic signature, and the current date.
  • The email notification contained comprehensive information on the CARES ACT Fund. The email indicated the amount of CARES 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 email informed the student on the process: the student would need to sign the online CARES ACT Funds Award Agreement, agree to comply with the terms of the CARES ACT Fund, and timely submit the Agreement to the school. The email stated that upon receiving the student’s signed Agreement, the school will provide the student with the CARES ACT funds within 14 days in the designated amount.

After the Sept. 30, 2020 quarterly report, Standard College has a balance of $0.00 Student portion CARES ACT Funds available.

Here is the email the Title IV, eligible student received about the CARES ACT Fund.

Dear Student,

You are qualified to receive the CARE ACT Funds in the amount of $560.56.

To obtain the FUNDS, click on the link below to complete the online CARE ACT Funds Award Agreement.

https://forms.gle/d4KQ8wW4SrCGGscF8

There is a Thursday, Sept. 17, 2020 deadline to complete this process.

The CARE ACT Funds will be provided to you within 14 days after the school receives the signed Award Agreement. You will receive the FUNDS through a Bill.com account, if you set one up, or a check will be mailed to you.

Importantly, by accepting the CARE ACT Funds, you are agreeing to use the funds in one or more of the designated categories: food, housing, course materials, technology, health care, and childcare.

Here is more detailed information about the CARE ACT Funds:

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 had previously distributed funds to Title IV eligible, enrolled students, who were actively taking courses in the Practical Nursing Program or the LPN to RN Transition Program as of May 14, 2020. 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 Title IV eligible, currently enrolled students, actively taking courses in one of Standard College’s nursing programs as of May 14, 2020, or to a student who had been enrolled prior to May 14, 2020 and returned to the nursing program by July 21, 2020. As a student who had been previously enrolled at Standard College prior to May 14, 2020 and who returned to Standard College by July 21, 2020, you are eligible to receive the funds.

Title IV eligibility is a threshold requirement of the CARES ACT. This threshold requirement made was made by the federal government. 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 Friday, July 24, 2020. Students 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?

On July 29, 2020, eligible students received an email from the school. The email contains a letter signed by the school, identifying the amount of funds you have been determined 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 by the deadline. Upon receiving your signed letter, the school will provide you with funds from the CARES ACT Fund in the appropriate amount. You will receive the FUNDS through the Bill.com account, if you had previously set one up, or a check will be mailed to you.

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

* The school previously distributed 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 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. As a student who was previously enrolled at Standard College and returned to the nursing program by July 21, 2020, you fall into the category of students who are receiving part of the reserves. You will receive the same amount of CARE ACT Funds now, as you would have received, had you been enrolled in the program on May 14, 2020.

* The remaining 75% of CARES ACT funds had been divided equally among all students currently enrolled on May 14, 2020 who established Title IV eligibility (PELL and Loan recipients). For instance, the school received $258,154.00 CARES ACT Funds. 5% was set aside as the reserve in the amount of $12,907.72. The amount of $49,049.35 was divided equally among the total number of Standard College currently enrolled Title IV eligible PELL Grant recipients. This left the school with a balance of $196,197.42. The balance of $196,197.42 was 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.