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Cares Act Section 18004 (a) (1)

 

45 Day Report on ED-GRANTS-041020-003 as of 11-06-2020  Student Portion

 

  1.  SABER College acknowledges that it sent the Certification and Agreement on 4-13-2020. SABER College intends to use no less than 50% of the funds received under Section 18004(a) (1) of the CARES Act to provide Emergency Financial Aid Grants to our students.
  2.  Funds were received by the School for the Student Portion of the Grant was $191,384.00 on April 29, 2020.
  3. Total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1)as of 5/13/2020 is $42,500.00
  4. Number of 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 to students under Section 18004(a)(1) of the CARES Act is 38.
  5. Number of students who have received an Emergency Financial Aid Grant under Emergency Financial Aid Grant to students under Section 18004(a)(1) is 38.
  6. The school identified 21 students eligible to receive the grant as of 3-12-2020.  Students submitted Letters explaining how they had been affected by COVID-19 and requested from the school that they be considered for the Grant. SABER College created a Policy as to how the grants were to be given to the eligible students. Eligible students that were attending school on March 12, 2020 received a total of $2,500 for the fourth semester. The fifth semester they were evaluated again since still eligible, receive an additional $3,700.
  7. The new cohort has received $1,000 for the second semester, and are scheduled to receive if still determined to be eligible $1,000 a semester for the third, fourth and fifth semester.
  8. Total disbursements to students to date $126,400.
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