Update Report 1 – as of 07/13/2020
US Department of Education – Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"), Higher Education Emergency Relief Fund ("HEERF")
Federal CARES Act Reporting/Financial Aid Grants to Students
The following information is provided by Atlantis University (AU) as required by the Department of Education (“ED”) in order to comply with the reporting requirements under the CARES Act.
This is the University’s first 45-day progress report and presents information as of 07/13/2020. Additional reports will be provided every 45 days.
Atlantis University’s Use of Funds Distributed from HEERF-Student Funds is as Follows:
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 July 9th, 2020 is $10,110.50.
The University has awarded $20,221.00 to 10 students as of July 9th, 2020, but has distributed $10,110.50. The University will distribute the remaining 10,1150.50 to these students by check within 60 days.
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 10
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 07/09/2020 is: 10. These students submitted an application between 07/01/2020 and 07/06/2020 that was reviewed by AU staff.
Between 07/07/2020 through 07/12/2020, the University received seven applications from seven of the 10 remaining students that are eligible for the Emergency Financial Aid Grant. These applications are pending review.
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:
- Eligible Students apply for a HEERF Emergency Student Grant by completing an application describing the expenses incurred as a result of the disruption of campus operations.
- AU will validate each students’ eligibility and will review supporting documentation.
- Priority will be given to student requests that directly relate to their academic success with particular emphasis placed on technological needs for online course completion and basic daily necessities such as food and medical needs.
- Applications will be ranked ordered, based on the amount requested, as well as ranking the applications based on lowest to highest EFC until the cumulative grants total AU awarded amount to disburse.
- The University will track each award until the University’s award amount has been attained.
- The University will disburse the HEERF Emergency Student Grants to students via check. Students will receive an e-mail notification once any disbursement is made.
- The payments will be split over two equal payments. The second payment will be provided to the students within 60 days of the initial payments.
7. Instructions, Directions, or Guidance Provided to Students
All guidance to students will be placed on a CARES Act website.
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