2020 CARES Act Reporting Requirements
The 2020 CARES Act Section 18004(a)(1) requires that institutions who have accepted Emergency Financial Aid Grants to report on its distribution and usage. The following statements are to let the public know how the Academy for Careers and Technology generally used and distributed the Emergency Finabcial Aid Grants:
1. The Academy for Careers and Technology signed and returned the certification and assurance agreements to accept the Emergency Financial Aid Grants under the 2020 CARES Act on 06/15/2020 and 06/30/2020.
2. The total amount of funds recieved from the 2020 CARES Act by the Academy for Careers and Technology is $64,795.00.
3. The total amount of Emergency Financial Aid Grants distributed to students is $35,800.00.
4. The total number of students who are eligible to participate in and receive an Emergency Financial Aid Grant is 43.
5. The total number of students who have recieved an Emergency Financial Aid Grant is 43 as of 08/21/2020.
6. The Acadeny for Careers and Technology used the following crtiteria to determine which students were to recieve an Emergency Financial Aid Grant:
a. Students who have completed their FAFSA for the 2019-2020 school year.
b. Students who completed the needs assessment form provided by the institution.
c. The amount awarded to each student was based on the findings of an Emergency Financial Aid Grant committee composed of the school director, school financial officer, and program coordinator.
d. The committee determined there were 3 levels of student need based on the information submitted by the students on the needs assessment form. All 43 students were found to be in need and will be awarded an Emergency Financial Aid Grant.
7. Students were provided information about what the 2020 CARES Act entails and why they were to recieve an Emergency Financial Aid Grant.