cares act Reporting-Students
The information presented below details Shear Finesse Beauty Academy’s funding allocation received under 18004(a)(1) of the CARES Act. Shear Finesse Beauty Academy was originally required to make available to the public in a location and format easy to access and understand within 30 days after the date when the institution first received its allocation (8/3/2020) under 18004(a)(1) and then update it every 45 days thereafter. Shear Finesse Beauty Academy next report is due on 9/17/2020. There have been no changes necessary since that date. Effective Aug. 28, 2020, Shear Finesse Beauty Academy will be required to update the below information within 10 days after the end of each calendar quarter (Sept. 30, Dec. 31, March 31, June 30) if there are any changes. No further updates are required. All funds have been distributed as of 11/30/2020.
1. An acknowledgement that the institution signed and returned to the Department the Certification and Agreement and the assurance that 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.
Shear Finesse Beauty Academy has signed and returned the Recipient’s Funding Certification and Agreement regarding emergency financial aid grants to students under the Coronavirus Aid, Relief, and Economic Security (CARES) Act to the U.S. Department of Education. Further, the institution has assured the Department of Education that 50 percent of the funds are being or will be provided to students as Emergency Financial Aid Grants.
2.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.
Shear Finesse Beauty Academy has received $75,116 under section 18004(a)(1) of the Cares Act. The total required to be provided to students in the form of emergency financial aid grants is $37,558.00.
3. 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 submission (i.e., as of the initial report and every calendar quarter thereafter).
As of 10/05/2020, Shear Finesse Beauty Academy has distributed $25500.00.
As of 11/30/2020, the total and final amount distributed is $37,800.00.
4. 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 to students under Section 18004(a)(1) of the CARES Act.
The number of students eligible to apply equals 16 students.
5. The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.
As of 11/30/2020, Shear Finesse Beauty Academy has processed grants for 12 students.
6. The method(s) 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.
Student enrolled March 13, 2020 through June 1, 2020, and meets the eligibility requirements set may apply for an Emergency Financial Aid Grant. Shear Finesse Beauty Academy asked students to submit an application indicating the dollar amount they were requesting in assistance. Students may also provide additional documentation to demonstrate their need. Eligible students will receive a minimum of $500.00 up to the maximum eligibility amount of $3500.00 based on their level of need
7. Any instructions, directions, or guidance provided by the institution to students concerning the Emergency Financial Aid Grants.
Students received initial written guidance from Shear Finesse Beauty Academy about the CARES Act funds. The document describes the Cares Act and the purposes of the funds. Additional information was later placed on the school's website. Students can retrieve the application for the CARES Act funds from the school's financial aid office or download a copy from the website. The Students who are eligible for CARES Act funds will receive written communication via email within 1 to 2 business after they have been approved.