CARES Act

ABCOTT INSTITUTE

CARES ACT REPORTING ON EMERGENCY FINANCIAL AID GRANTS TO STUDENTS

On March 27, 2020, the Federal government enacted the Coronavirus Aid, Relief and Economic Security Act (CARES Act), Pub L. No. 116-136, providing funds to institutions from the Higher Education Emergency Relief Fund (HEERF) to make Emergency Financial Aid Grants to Students for expenses related to the disruption of campus operations due to coronavirus, including eligible expenses under student’s cost of attendance, such as food, course materials, technology, health care, and child care. The law requires institutions to report certain information related to the use of these funds. The following information is reported for the period, May 20, 2020 to June 19, 2020.

This statement shall serve to acknowledge that our institution signed and returned to the US Department of Education the Certification and Agreement - Emergency Financial Aid Grants to Students. We further attest that our institution has used, and/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 has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Student is $84,827.
The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of June 19, is $0.00. A total of $26,400 will be distributed on June 26, 2020.
The estimated total number of students at our 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 is 102.
The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act to date is 0. Thirty-three students will receive disbursements on June 26, 2020.
The following is the method used by our institution to determine which students receive Emergency Financial Aid Grants and how much each student will receive under Section 18004(a)(1) of the CARES Act. All students in a school status of Active and Leave of Absence as of May 1, 2020, (as well as students that had been expected to start classes in May but were postponed due to campus closure), that have been determined eligible for Title IV have been sent an email requesting a response from the student as to how the Covid-19 Pandemic has affected. Students were asked to indicate areas in which they need financial support for expenses related to the disruption of campus operations due to the Coronavirus (including education expenses, course materials, technology, food, housing, healthcare and childcare). Once a response is received, students are awarded a total of $800 and a check will be mailed to their home address. Only students who are actively enrolled at the time disbursements are made are eligible for these funds.
The following instructions/directions/guidance will be provided by our institution to students concerning the Emergency Financial Aid Grants.
Students that have not responded in a timely manner will be sent an additional email encouraging them to apply for relief assistance. Individual inquires from students will be addressed on an individual basis and Abcott will assist and guide students through the request process.

As of August 31, 2020 $50,400.00 has been disbursed to 63 students.
As of September 30, 2020 $64,000.00 has been disbursed to 80 students.
As of December 31, 2020 $66,400.00 has been disbursed to 83 students.

ABCOTT INSTITUTE

HEERF Reporting