CARES ACT DISBURSEMENT POLICY
Alamo City Barber College (ACBC) has signed and returned the Certification and Agreement to the Department of Education. We have assured that we will 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 students.
The total amount of Emergency Financial Aid funding received to aid students: $177,032 (students) and $177,031 (Institutional).
The total number of students eligible to receive aid as of 8/10/2020 is 91.
The total number of students who have received aid as of 8/11/2020 is 9.
The total amount of funds distributed to students as of 8/10/2020 is $6,500.00.
The method used to disburse funding to students is as follows:
- Each student is counseled on the requirements to receive these funds during the enrollment process (enrollment agreement) and during student orientation (orientation disclosure form).
- Only students who receive Title IV (Pell Grant and DL Loans) are eligible to receive the CARES Act Financial Aid Grant
- Funding will be distributed to students based on Satisfactory Attendance Progress (SAP). All students will be awarded emergency financial aid grants based on their attendance percentage upon the completion of 1000 clock hours.
- Funding will be awarded to each student that meets the criteria stated above until all allotted grant money issued to ACBC has been exhausted.
Students attendance will be assessed upon graduation and will be awarded based on the ranges shown below:
| Attendance Percentage | Award Amount |
|---|---|
| 90 - 100% | $1000.00 |
| 70 - 89% | $500.00 |
| 69 - Lower | $250.00 |
