American Institute CARES Act Update (Higher Education Emergency Relief Fund Report)
American Institute has applied for and received funding through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), and intends to use at least 50 percent of those funds to provide emergency financial aid grants to students, as mandated by the Act. The School signed and submitted the Certification and Agreement to the U.S. Department of Education on April 11, 2020 and received the first portion of emergency grant funds on April 27, 2020. The minimum portion designated for student grants totals $1,556,954.
Notification to students of this funding was posted to our official COVID-19 page on this website on May 19, 2020, with text messages and email messages sent directly to eligible students as well on May 20, 2020. The notification is located at this link at the top of the page above all other updates for easy viewing: COVID-19 and Our Community. Students are encouraged to call their campus and speak with the Student Finance team to determine their grant status and to complete a grant request form (also available online here: https://tinyurl.com/y8upr5zf).
American Institute will begin distributing these funds May 25 – June 5, 2020 to students who are eligible. Funds will be distributed to as many as 1,121 eligible students were enrolled in classes when the school moved to online classes on March 23, 2020 and who had filed a Free Application for Federal Student Aid (FAFSA) for the 2019-2020 academic year. The FAFSA was used to determine an expected family contribution (EFC), which was used by the school to determine need-based grant levels. Students will receive grants of $2,400 or $1,200 based upon their own reported COVID-19 experience and their EFC. Checks will be mailed directly to students.
Potentially eligible students who had not yet filed a FAFSA were notified of the opportunity to complete the FAFSA or provide other documentation in order to verify eligibility for the CARES Act funds. There are 59 additional students with potential eligibility. American Institute will issue checks based upon their EFC as the eligibility verification steps are completed.
Remaining funds received by the institution are reserved for eligible students as described above, to provide for additional help during the summer of 2020. The form linked above is available to assist in making a request during June, July or August. Funds will be distributed by check upon approval by the School.