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CARES Act

Cares Act
May 12th, 2020

Boise Barber College a d.MARTiN Academy (OPE ID: 04203200) 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 Electronic Announcement. For questions or concerns regarding this Fund Report, please contact Sandra Ammann, CFO, at sandra@boisebarbercollege.com.

1. The institution signed and returned to the Department the Certification and Agreement [or Emergency Financial Aid Grants to Students on April 13th, 2020. 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.
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 is $124,720.00, with the portion of Emergency Financial Aid Grants available to Students being $62,360.00.
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 this Fund Report is $0
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 under Section 18004(a)(1) of the CARES Act, as of the date of this Fund Report is 43
5. 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 0
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.
   1. Policies on Determining Eligibility:
      1. Eligibility for Title IV aid in accordance with Section 484 of the Higher Education Act (HEA) including but not limited to having a valid Federal Application for Student Aid (FAFSA) on file, the student being an eligible citizen or eligible non-citizen, having a valid social security number, federal aid history in good standing, valid proof of high school completion, satisfactory academic progress requirements are met in accordance with continuing eligibility for Title IV aid
      2. Students who were currently enrolled as of March 16th, 2020, when the school was closed due to COVID-19.
      3. 43 Grants will be available in the amount of $1450.24. These will be awarded in 2 equal payments to those who qualify.

Policies on Determining Distribution:

1. Only one grant (paid out in 2 disbursements) awarded per student.
   Any student awarded a grant will sign indicating award amount and advisement that funds are to be used for eligible expenses related to cost of attendance and the disruption of campus operations

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