CARES Act Funding for Students

The Art Academy of Cincinnati recognizes the COVID-19 pandemic created some very challenging circumstances for our students. We also understand that the transition to remote instruction along with the Governor’s Shelter-in-Place order have led to additional, unexpected financial challenges.

The Coronavirus Assistance, Relief and Economic Security (CARES) Act passed by Congress provided the AAC $123,961 through the U.S. Department of Education to be made available as direct assistance to students.

The AAC has sought to help as many students as possible address the unexpected expenses arising from the COVID-19 pandemic and has distributed first round funding (June 2020) to students and will continue to distribute funding to returning and new students until all funds have been disbursed.

Spring 2020

$250, $500, $750 awards based on calculations including:

AUGUST 2020 (2nd week August)

$250, $500, $750 awards based on calculations including:

SEPTEMBER 2020 (2nd week September)

$250, $500, $750 awards based on calculations including:

Title IV (federal aid) eligibility was a requirement established by the U.S. Department of Education. The Art Academy of Cincinnati meets this requirement and identified the expected family contribution (EFC) through a completed Free Application for Federal Student Aid (FAFSA).

Who was eligible to receive CARES Funding?

More than 200 students will receive funding as long as they were Title IV-eligible, in a non-distance learning program, and enrolled at least full-time. Awards were $250,  $500 or $750 depending on a number of calculations including estimated family contribution (EFC).

Receiving additional aid can sometimes affect eligibility for other aid sources. Why is that not the case with CARES Act funding?

Based on the action taken by Congress when creating this funding, the CARES Act funds, while awarded by the AAC, are not considered financial aid and were specifically designated not to affect Title IV (federal aid) eligibility. Only Congress can bypass the rules of Title IV eligibility as they also wrote the laws that created the federal aid programs.

The above information is provided to comply with the U.S. Department of Education's CARES Act reporting requirements.

CARES Act Reporting

9-30-2021 Quarterly HEERF Reporting.pdf

6-31-2021 Quarterly HEERF Reporting.pdf

3-31-2021 Quarterly HEERF Reporting.pdf

12-31-2020 Quarterly HEERF Reporting.pdf

9-30-2020 Quarterly HEERF Reporting.pdf