Higher Education Emergency Relief Fund Acknowledgement and Reporting- Emergency Financial Aid Grants to Students.
University of Spa & Cosmetology Arts (USCA) acknowledges that the institution signed and returned to the Department the Certification and Agreement, and assures that the institution 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.
USCA received $140,882.00 in total funds from the Department pursuant to the Institution’s Certification and Agreement for Emergency Financial Aid to Students. These funds distributed by the Department represent the 50 percent minimum of USCA’s HEERF funds under Section 18004(a)(1) of the CARES Act for these emergency financial aid grants to students.
The total amount of Emergency Financial Aid Grants distributed to students under Section 18004(a)(1) of the CARES Act as of the end of September 2020 is $140,882.00. Grant funds have been fully expended.
USCA awarded 116 students an Emergency Financial Aid Grand under Section 18004(a)(1) of the CARES Act.
The following formula was used by USCA to determine the amount of grant funds each student would receive. The total grant available was $140,882.00, and the school had 116 students enrolled in the school on the day the grant awards were made. The school made the determination that all students attending had equal need because all students were impacted by the Illinois mandate that closed schools in mid-March 2020. Based on that determination, each of the 116 students received a grant award of $1214.50 on 5/7/2020.
As the accrediting agency for USCA, NACCAS has the authority to review the school's annual audit and issue an opinion on the financial responsibility requirements for accreditation and eligibility for Federal Title I aid. For the year 2021, NACCAS advised the school that it was on monitoring and was required to submit a corrective action plan. The school has submitted that plan for 2021 in a timely manner.