Posted: May 28, 2020
Updates: May 29, 2020, June 5, 2020, June 19, 2020
Final Update: June 26, 2020
Platt College (OPE ID: 03014900) 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 Michael Vigil, Financial Aid Director, at firstname.lastname@example.org.
- 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 $206,076.00
- 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 $1,000 per student for a total to date of $185,000.00 based on the current number of students who have completed the eligibility paperwork to date. Based on an eligibility population of 220 students, each student is set to receive $936.70. Platt College gave an additional $63.30 to equal $1,000.00 per student.
- 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 220 students.
- 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 220, out of a total 220 eligible students. Platt College has completed the process and all eligible students have been funded.
- 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.
Attachment A: Methods Used
Platt College determined the CARES Grant eligibility pool by:
- Matching Spring 2020 student listings, verifying students who were active and attending the Spring 2020 quarter with FAFSA reporting data to verify those Spring 2020, active and attending students who have completed a 2019-2020 or a 2020-2021 FAFSA through May 7, 2020.
- The data pool consisted of 220 students who were eligible to receive the CARES Grant. Platt College chose to use a portion of the Institutional CARES funding that was requested on 4/27/2020 to increase the funding pool from $206076 to $220000 and allow for each of the 220 eligible students to receive $1000 in CARES Grant funds.
- Students were required to complete and submit The CARES Act Acknowledgment Form (Attachment B) acknowledging a hardship prior to the school releasing the funds.
Attachment B: Guidance Provided by Platt College to Students Concerning the Emergency Financial Aid Grants
On May 14 and again on May 20, two notifications were sent in the form of a memorandum to the Platt College student body from the College President. The following points were outlined for students.
- The CARES Act Emergency Relief Grant Fund provides emergency financial aid assistance to students for expenses related to the disruption of campus operations due to coronavirus as stipulated by the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act was signed into law March 27, 2020. Awards are distributed to eligible Platt College students who completed a 2019-20 or 2020-2021 FAFSA and who had taken at least one on ground course during the March to June quarter 2020.
- Eligible expenses are defined by the Department of Education as those related directly to the disruption of campus operations. Those expenses are:
- Housing (rent, utilities)
- Food (groceries, other meal expenses)
- Technology (computer, phone, internet access, other remote access needs)
- Healthcare (medical, counseling, other healthcare related expenses)
- Childcare (babysitting, daycare, other dependent care costs)
- Course material (books, access codes, supplies, lab equipment)
- Other expenses (tutoring, unexpected living/academic situations or expenses)
The Department of Education has clearly stated that all CARES Act grants must be delivered directly to students. The College is unable to apply any of these funds toward a student’s outstanding balance.
Steps were outlined and sent to students on May 14 and May 21, 2020 to instruct students how to receive their money. All eligible students have been funded.