Update Report 2 – as of 08/28/2020
1.Certification and Agreement Acknowledgement
Atlantis University (AU) acknowledges signing and returning to the U.S. Department of Education (DOE) the Certification and Agreement for Emergency Financial Aid Grants to Students in order to access funds under the Higher Education Emergency Relief Fund on April 22, 2020. 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. Total AMOUNT of Funds RECEIVED
Pursuant to the Certification and Agreement, the University has received an award notification that totals $40,442.00 from the Department in Emergency Financial Aid Grants to Students.
3. Total AMOUNT of Funds DISTRIBUTED TO DATE
The total amount of Emergency Financial Aid Grants funds distributed to students under Section 18004(a)(1) of the CARES Act as of August 28th, 2020 is $19,209.95
The University has awarded $38,419.90 to 19 students as of August 28th, 2020, but has distributed $19,209.95 The University will distribute the remaining 19, 209.95 to these students by check between early and mid-September 2020, which is within the 60-day window when the first 18 students received their first installment.
4. ESTIMATED NUMBER OF ELIGIBLE STUDENTS
The estimated total number of AU students 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 is 20
5. Total Number of Students Who Received an Emergency Financial Aid Grant
The total number of students who have received an emergency financial aid grant under Section 18004(a)(1) of the CARES Act as of 08/28/2020 is: 19. These students submitted an application between 07/01/2020 and 08/21/2020 that was reviewed by AU staff.
6. METHOD OF DETERMINING WHICH STUDENTS WOULD RECEIVE AN Emergency Financial Aid Grant
The University has decided to prioritize students with the greatest need. The individual award amount will vary depending on the actual number of applications received and the funds requested by students based on their needs.
Following is a summary of Atlantis University’s procedure to determine how the grant funds are distributed:
7. Instructions, Directions, or Guidance Provided to Students
All guidance to students will be placed on a CARES Act website.